COVID-19 has impacted all of us without exception. The crisis has put enormous pressure on the economy. Yet at the same time, it has accelerated the digital evolution of the world-of-work. Looking for the silver lining, perhaps it provides us with the catalyst to explore those entrepreneurial ideas and exponential opportunities that have been bubbling in the back of our minds? We’ve had an amazing journey as a team growing Adept Advisory to where it is today. Our story started and remains rooted in trust and humility. I thought I would share some of the lessons we learned along the way which may spark inspiration.
1. Purpose and finding your why
A value system is relatively easy to define upfront. What is more difficult however is to inculcate those values into the ethos and culture of your organization. Over the years, when we have had to make tough decisions, our value system has been crucial. Finding a collective purpose is equally important. Exploring and aligning Founders’ purpose with Tribe purpose is a hugely fulfilling journey that galvanizes the team. Quoting Simon Sinek, people don’t buy what you do, they buy why you do it.
2. Community of trust
As co-founder of our business, nothing was more critical in our journey than a trusted relationship with my fellow co-founder, and as we expanded, our talented team. It runs so deep that it features in our purpose statement: “We create trust-based communities that unlock potential and inspire growth”. Extending this foundation of trust to your business partners, advisors and customer network creates an awesome work environment, an environment you want to wake up to rather than approach with a sense of dread!
3. Resilient financial plan
Balancing risk and reward is never going to be an exact science. Taking a degree of risk with the promise of reward is what drives entrepreneurs. A sound financial plan that is flexible enough to cater for high and low scenarios provides the best chance for long term success. For sure we’ve had highs and lows over the years. Having longer-term financial and non-financial goals helped us weather turbulence, turbulence that is going to be difficult to avoid in our current economy. As we’ve all seen, things can change quickly beyond our control. It’s critical to be able to rapidly pivot your strategy: not easy when you may be wedded to your original idea or business model. And of course, in these times, cash is king!
4. Focus on the question, not the answer
I love the story of Polaroid which started with a child’s question, “Why do I have to wait for the picture?” Asking beautiful questions is something we are focusing on at Adept, driven by the world of uncertainty we face. This quote from Tina Seelig, Stanford Professor, captures it for me: “Questions are the frames into which the answers fall.” To navigate this increasingly complex world our mindset of control and driving efficiency has to be replaced with a mindset of adaptability with continuous learning at its core.
Hopefully, some of those thoughts resonate with you. I’d be very happy to engage on these or other business growth topics. Go find that opportunity and be exponential!