Let’s face it, no business person was ready for the havoc caused by the pandemic in 2020. Certainly not the airline industry that needed a 30-40 billion dollar bail out. And not local restaurants that had to close doors for months before being allowed to open with limited guest numbers months later. And any business that didn’t have a year’s worth of rent in the bank was screwed. Leveraged businesses with big equipment loans better have had serious cash on hand. The words “cash is king” never rang truer.
The pandemic changed everything for everybody. Especially business.
At What’s The Idea? brand strategy follows a key Patti Smith principle: “I don’t fuck much with the past but I fuck plenty with the future.” Brand strategy must be malleable and forward-looking enough to weather not only market discontinuities but acts of God. The “one claim, three proof planks,” framework was developed so it offers some guidance for operation during a disaster. When revenue is gutted, business must change…but the brand’s sole will not. One of the proof planks, if not more, will still apply and assist in decision making. Across all aspects of the business.
Everyone has s strategy until they get punched in the face, Mike Tyson said. But when dazed and confused, it’s better to have a plan.