– Form the right ‘Squad’: The trusted and a combination of right skilled team members who you would need as your think tank and execution leaders. They need to have in all transparency, knowledge of the current situation, this is a team of committed individuals and flag bearers of your division/company.. this need not be hierarchy driven, but task-at-hand driven. This is the team that brainstorms plans, builds execution strategies, helps build scenario plans and executes them in their respective teams.
– Identify, Plan: Access the extent of realistic damage the situation can make: make worst, best case scenarios and everything in between (may be use mind mapping tools, jot them, prepare post-its, whatever works best for you and your Squad). The best thing about risk is much of it can be managed if one is prepared and plans well. Most of the time the worst nightmares and worst fears are not realised, but it helps to be prepared for any scenario, it gives a lot of confidence when facing any uncertain situation.
– Make Gorilla Fight plans: There is always opportunities hidden in any crisis. The way to find them is by being agile, be prepared and ready when they come.. try and fail fast, keep searching (and when you find one: Squeeze the most out of it).. like an agile and hustling start-up. There is always a segment of customer waiting for our service or product, you can always repurpose your solution to fit in some segment, find them, plan and go after them. This is the best strategy that works if resources are limited.. In a crisis.. time is the costliest resource.. we are perennially running out of it!