So as an industry, let us face an uncomfortable truth together: The world has changed. From here, the corporate winners will be those with the cojones to accept the new normal. Adaptation is the only business plan in 2020; maintaining the status quo and waiting for everything to return to as it was is the path to extinction.
Let us start by disposing of the alphabet soup of forecasting – all that V, U and L curve claptrap. Burn anything from anyone pretending to know the shape of the recovery. That stuff is a comfort blanket from a bygone age that will lead a C-suite to oblivion. You could have forecast any outcome you liked while parading around the decks of Titanic – the winning strategy was to run to the lifeboats.
Before recovery, first we must find the bottom. You’ll know the bottom because that’s the point at which things stop getting worse.