As part of the new format for this year’s MATTER, we’ve introduced LEARN: forty-minute talks from individuals within the PURE ecosystem, containing insights that look at the experiential industry from a different perspective. If you couldn’t make it to every talk you wanted, never fear: we asked a few of our speakers to tell us the top five insights they want people to take away from their talk.
First up: Tessum Weber, COO of Arctic Watch Wilderness Lodge & Arctic Haven Wilderness Lodge, summarising his talk COPING WITH CRISIS: FIVE STEPS TO REBUILDING.
- Cash is king. Your survival and ability to rebuild depends on it. Cash gives you the ability to rebuild and buys you time. Proper longterm planning should include “crisis” cash. Time and cash are partners – without one, the other ceases to exist.
- Spend: If you see a solution present, spend (meticulously) the money required to properly invest in rebuilding. Don’t cut corners, save cash, skimp. Rebuild properly. “Crisis” moments provide amazing opportunities, both internally and externally. Fire all cannons!
- Focus on your core competencies: Rebuilding means going lean. Focus on your minimum viable product; what you are good at. What your team is good at. If you are an operator, then operate. Look to someone else for the marketing. Get help. Storyteller and born marketer? Get out there and tell stories, inspire people. Focus your core competencies on the ultimate goal – rebuild stronger.
- Cut your costs: Trim as much operational risk as possible. Loyalty from your customers and employees should be so strong that they will be willing to take a significant pay cut and still remain in the business. They need to share the same passion and vision you started your business with. Trimming makes you lean and mean – ready to focus!
- Draw on your passion: If your work is simply work, you’ll drown. Passion will carry you forward; propel you through the tough times. Your passion will infect those around you. Keep you and your team on course!
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