When the team makes the most of a bad situation, it should be considered a real success.
Likewise, when a team doesn’t make the best of a good situation, it should be considered a failure.
The pandemic was a windfall for many companies. But for some, the ability to build on the good times has been elusive.
Carvana’s stock is down 95% since its pandemic high.
Peloton has lost hundreds of millions of dollars.
Netflix has lost millions of subscribers.
Good times do not last forever. Opportunities are ephemeral. Leaders need to make sure their teams are focused on taking effective action no matter how good or bad the circumstances are.
It is easy to confuse good strategy with being in the right place at the right time. Lots of leaders can look good in the energy business when oil is at $100 a barrel and gasoline is five dollars a gallon.
If there is some truth to the saying that youth is wasted on the young, then I think we can also say that opportunity is wasted on the unprepared.
Be grateful for whatever windfalls have come your way. But also take action to ensure that the team is using its time to capitalize on the opportunity. Utilized effectively, the opportunity should take you and your team to another level, and not just look like good times gone bad when conditions change again.