This post is a personal view on companies portfolios, how they could potentially address risk of going when shit hits the fan (a.k.a epidemic, etc.)
Recently, a lot of business have been affected by an epidemic. A lot of business are in trouble. One of the most affected areas are probably companies focused on events, meetings, meet ups etc. User groups and other non-commercial organizations can easily transform into online using various tools like Zoom, Microsoft’s Teams etc. Commercial organizations, that need money to ensure business continuity (read: not firing people) might be not in the best shape to just go online. What are the angles one can take to look at this situation?
Hedgehog concept, a.k.a. being the best at one thing
The hedgehog concept idea comes from Good to Great, a really interesting book showing why some of the good companies transform to great ones. The hedgehog concept is simply focusing on one thing, being the best at one thing. You may think about it keeping things in your portfolio that you’re familiar with, that you know.
If I tried to map it to the event space, I could try to say that being an event company in this times is really bad. Basically, you can’t do what you’re the best at (or trying to be). Could this be somewhat reframed? Maybe being an event company actually sucks, and other framing could be better?
People first and/or mission first
Does this proverbial company think about events or its attendees? What about focusing on people (this narrative/motto needs to be true and to be embedded in the company) and addressing their needs? Maybe it could be
We make X better
We develop X in Y
You see where I’m going. Framing things like this might seem to be broader, more vague. At the same time, it differentiates a strategic thing (mission, values) from the way it is realized.
Mapping on Dotnetos
You might now try to map it on Dotnetos Async Expert online course I’m a part of. Even if this fits in this case, the whole thing was being worked on for a few months now, so its premiere is correlated but not caused by the epidemic. Still, if the company was only about events and on-site meetings, it might look terrible. Fortunately, it’s about teaching people and sharing knowledge. And this can be done in soooo many ways. Still, it’s the one thing, that we’re striving to be good at.