Karl Alomar on Leading Through Change
Get advice on creating and communicating a strategic plan in times of crisis.
Last Updated: October 7, 2020
Published: August 13, 2020
M13 Managing Partner Karl Alomar joined Bunch Co-founder and CEO Darja Gutnick for some “real talk” on Instagram Live. They talked about Karl’s entrepreneurial journey, changes and pivots, and navigating a new work environment in the wake of COVID-19. In this insightful conversation, Karl points out ways that founders can be looking toward the future with their businesses regardless of roadblocks.
Considerations during the COVID-19 pandemic
Consumer behavior is moving in a certain trajectory regardless of COVID-19. Lean into changes in the consumer landscape: crises often accelerate changes in consumer behaviors that are already underway.
There is always a pathway to healthy growth if your priority is to look toward the future. Times of constraint force you to find unique opportunities and narrow your focus on them.
Before any crisis, consider those who are around you. Surround yourself with people who are clear and calm and whose foresight you admire and really trust: they should give you the right guidance as others might panic.
There is always a pathway back to healthy growth and healthy evolution within the market as a whole. Nothing has ever ended the world. Nothing has ever changed the world to such a degree that it's unrecognizable.
Having a plan in place is key
Having leadership that exudes confidence and communicates the plan is critical. It's imperative in times of crisis to inspire and drive belief in your team, without your team you have nothing.
Whatever change you need to make needs to be made with quick, sweeping action. Execute on that decision and then make sure everybody else feels absolutely secure, that they have a future, that they know they're a part of the future of the organization.
Accepting the reality of a negative situation can help to build toward an optimistic future.
You’ve always got to figure out, 'What is the silver lining?' Even if my business is decimated, can I focus on some other aspect of what we’re doing to keep the momentum of what I’m building?
Getting strategic about your plan
Think about the balance between offense and defense; you can’t just go into hibernation as it’s the equivalent of shutting down and relaunching. Also think about how to reallocate resources to build value through the crisis and maintain some momentum.
Fiscal responsibility is absolutely key. While focusing your resources on how you might maintain some momentum through the crisis, you should build a fiscally conservative plan to secure sufficient potential runway post crisis to allow for you to recapture growth.
You're a founder because you're creative, you're smart, you're able to strategize and figure out ways to get things done that other people haven't thought about. Use those skills to navigate what the world looks like for you.
Some key takeaways of this conversation are to focus on creating a communicable plan, and shape your steps forward with an optimistic perspective. For more expert insights, sign up for M13’s newsletter.