When Speed Matters, Do This

We need an emergency response discipline for business leaders.

When a fire ignites, we’ve been taught how to react: Rescue, Alert, Confine, Extinguish. It’s been ingrained for years that we have 90 seconds to race into action.

Today’s business environment presents alarm-worthy incidents ranging from a black swan banking crisis to public safety alerts to high stakes customer concerns that demand instant attention. We don’t have the luxury of time. Unfortunately, most of us haven’t learned how to be great leaders when we’re in red alert mode.

How do we rally our business teams to pounce when emergency strikes?

What are the must-do’s to address the impact of a big, unforeseen event?

Post this on your door: Alert. Assess. Align. Accelerate.

Here’s how to do speed well.

     1. Alert. No solo heroics will do.

• • • Notify your core team right away—your Circle of Trust. Assign people to gather facts, sketch initial risks, write up one-page scenarios, monitor fast-breaking news. Put everyone on notice that you’re shifting into Speed Matters mode.
    • Avoid the echo chamber. Great leaders always have a group of people whose job it is to poke at assumptions, uncover blindspots, and bring forward a different perspective. I call them the Circle of Challenge.

      2. Assess. Deploy a process for rapid evaluation.

      The best emergency sessions bring a discipline that prevents knee-jerk reactions.

• • • Book of Facts: everyone in the Circle of Trust and the Circle of Challenge presents a crisp situation analysis. Make sure there’s clarity and check to see if everyone is on the same page.
    • Burning Questions: collect concerns, unknowns and topics worthy of deeper consideration.
    • List the risks and assign people to track them and report important shifts quickly.

       3. Align. Don’t leave the room without clarity on who’s doing what by when.

       Build check-ins into the reporting.

• • • Hold a session to get everyone onto the same page.
    • Review facts and risks.
    • Target leaders for the top priorities. Empower people to do the right thing.

      4. Accelerate. Shift into sprint mode.

      Shorten approval cycles. Huddle twice a day.

• • • Set up monitors to track news on the aspects of the emergency that matter most.
    • Create alarm mechanisms.
    • Centralize communications.

Knee-jerk responses are irresponsible. But when a crisis hits, over-thinking can be fatal. We’ve witnessed how the banking crisis exposed response weaknesses and leadership blindspots (Silicon Valley Bank, Credit Suisse). Preparation for speed drills is crucial.

Emergency Response is the Secret Superpower for Business Leaders.

I’m inspired by leaders who keep a Circle of Trust and a Circle of Challenge nearby to rally into action fast when speed is the only option. Who’s in your circles?