We didn’t wait to make changes in the business. We didn’t wait to make a strategic pivot. We didn’t wait for all the facts . . . we know that day will never come.

Here’s the Top 5 Things we did to deliver our most profitable month . . .

1.    Impact Assessment. Is it a ‘short’ or ‘long’ term impact? You may not have all the facts but you know more than you think. Take your sector analysis (+) economic outlook (+) your business acumen and make your best call. In the case of one of our strategic investments, it’s a long term impact and, in fact, the travel and entertainment sector will be forever changed . . . at least, in my opinion. So, strategically, we are pivoting the business to align with what we believe is a ‘new normal.’

2.    Get lean. Cut the excess. We immediately cut all non-core expenses. This may seem obvious but many folks avoid and put off tough decisions they need to make today.

3.    Look in the mirror. I needed to step up and do better. I had a ‘one-on-one’ with myself and identified all the things I need to do better . . . this included changes I should have already made in the business (pre-Covid) . . . but that’s water under the bridge . . . bottom line, I called myself out and I am holding myself accountable.

4.    Exit ok, Only Focus on Great. Further narrow your go-to-market. Focus on what you do ‘best’ . . . what you are ‘exceptional’ at . . . not what you are ‘ok’ or ‘fairly good’ at. Hyper focus on the former (that’s your core) and stop the latter (non-core) . . . by way of example, this was part of the strategic re-alignment of Airbnb . . . Yes, this may have immediate and short term revenue impact but focus on the big picture. For me, I terminated customer relationships in the non-core sector areas (took the revenue loss) and double downed with investment only in the core sectors.

5.    End each Day on a Positive Note. This is an emotional roller coaster . . . I grieve every day and I am sure many of you do the same . . . but, I end each day accepting this is a new world and I allocate time to think about how to take advantage of the opportunities that will come out of this crisis . . . we know this to be true . . . coming behind every crisis in history is opportunity.