Dear Aunty B,
Usually by this time of the year the board has signed off on strategy and I am propping up a bar in Asia enjoying happy hour (or hours). But the board and I do not see eye to eye on the strategy for next year and I am still here, propping up nothing more than my chin. Not even the board is in agreement with each other on the major projects we should do.
Part of the problem is the macro-economic conditions. Things are so uncertain and we play in the financial industry space, which is about as well behaved as a footballer after the grand final. Who do you barrack for by the way? I have you picked as a bulldogs supporter.
So Aunty what do I do? I don’t want to lock into any long-term strategy with the degree of volatility hanging around. But I need to get my board across the line to answer the call of my vacant banana lounge!
Desperately yours,
A Cats supporter
Dear Desperately mine,
No wonder you are struggling with your strategy. A Cats supporter! And how insulting! I am not a Bulldog. I am a Saint of course – and we thrashed you on Friday.
It is the end of the financial year and I can tell you are losing all powers of concentration so I’ll make this quick. Be very strict with your board. Tell them that it would be wrong for you to present them with some great strategy and expect that the market will fall in place behind it.
Remind them of your core proposal and demonstrate to them that you have the mindset, the resources and the agility to adapt to the opportunities that are going to come your way this year. Talk to them about the type of opportunities that might arise through the year. If it makes them happy tell them you will present them with another strategy update in six months. Work hard at communicating with them in the meantime. Make sure you are not using the volatile situation as an excuse for lack of strategy. And that you are really listening to what the board wants.
What you want at this point is a solution, so go and get one!
Good luck,
Your Aunty B
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