Deciding between keep or cut.
This month we review recent news about mobility related ventures that got impacted by the pandemic. While there are quite some bad news, it should also not go unnoticed that there’s good news as well. Seemingly, it is not about “all or nothing” but about “the right” thing.
The question becomes how to decide what tasks, projects, investments etc. to keep and what to let go.
The key to success is to prioritize the portfolio from the top using a metric that is unique to one organization and also to let gut feeling play a role to make sure the result is the right thing. Communication matters a lot in this as the team needs to be coached in a potentially different situation, and therefore it is important to motivate.
While we do know how long past downturns lasted, no one can tell how long this one will take. Competitors also don’t know and are probably asking the same question. However, one thing is for sure, that a crisis will be over at some point and it is important to get through a challenging situation with a streamlined portfolio and a motivated team.