Over the last week, we have seen the effects of the COVID-19 pandemic on the market, businesses, and communities. During these unpredictable times, one thing is certain; we cannot control these events, but we can control how we react.
In today’s interview, we are joined by Josh Horstmann, Senior Partner at SBI, to discuss how to adapt to the new normal. Josh shares a 7-step action plan and timeline to help executive teams mitigate business impact during the crisis.
Click here for the podcast version of this interview.
Phase 1: Adjusting to a COVID-19 World
Step 1: Communicating your new normal. minute 4:21
Step 3: Selling through social distancing. minute 7:22
Phase 2: Mitigating Revenue Impact
Step 4: Managing deal triage to keep the lights on. minute 8:55
Step 5: Revising your GTM strategy given what you’ve learned. minute 10:03
Step 6: Reevaluating channel mix and coverage for your sales reps. minute 11:39
Step 7: Aligning metrics and incentives to the new GTM plan. minute 13:03
Skip to minute 14:13 to hear Josh’s advice on how to best overcome a global crisis:
“When you panic, you make bad decisions… pull together the leadership team, over-communicate to your sales teams. Make sure that they’re having the right tools in place, and then as you think about go-forward strategy, it’s all around having a plan… and then more importantly, adapt as you think about the buyers and how they’re changing their behaviors. Everyone can get through this. It’s just a matter of how fast you get through it. And on the other side, I think there’s going to be great rewards for those folks who followed it.”