Over a month ago, we completed a big restructuring @FOCUSBRANDS to adjust for scale and prep for next growth phases. My 2nd big reorg in 10 years there, and I'm so proud of it! Will share more soon, but here's a thread on making changes before you are forced to + tough calls.

I am so grateful for leadership changes we made over the last 2 years - wish I would have made some even earlier. I can't imagine going through a large reorg (+2020) w/o the new presidents and leaders we promoted, invested in and hired, which also meant parting ways with some.
Making changes when you "don't have to" is a bit of a paradox. You DO have to. It's just that you aren't forced to (yet). I've learned to redefine crisis & know that a time will come that pressure-tests my team. I know that I "must" do it before I "have" to do it.
I use that knowledge to initiate changes in human, caring, and direct ways. An example of one of those convos (major paraphrasing): "you were a fit for some time, but no longer, we're not parting ways today, but we need to unwind by "X", let's build a plan to do that together"
There is much left out of that little clip of a sentence: development attempts, collaboration, etc. etc., but when you know, you know, and often (always in my experience) they do, too. At that stage, their optimal growth will be somewhere else - I want to get them there.
The reality is, I am failing the company, the team, and that individual if I DON'T make changes. After many experiences with this, including having not done it and dealing w/the damage, I have learned to confidently and lovingly approach even the most sensitive changes.
These decisions, the related conversations and managing all the cultural implications are not easy, but you can build a muscle for it. And if you pay attention and listen to your teams, you'll get better over time. If you are in hyper growth mode, you are likely doing this often.
A reminder: In the absence of alternative information, people come to their own conclusions. Communication (while respecting all HR/legal guardrails) of what is going on (when and why) is key to protecting culture + helping people normalize & organize change in their minds.
If you are the CEO, founder, or team leader, this is your responsibility. If not you, who? If not now when? Remember also to not go it alone: fellow leaders (+HR) should co-architect big changes in the org and then own it as a result.
Having the right team makes all changes, challenges, etc. far more smooth & impactful. Grateful for mine, and I hope you are feeling great about yours. If not, make the changes now, for the good of them, the team, and your company. You never know what is coming around the corner.

More from Economy

The International Monetary Fund (IMF) is analyzing damage due to COVID and projecting further severe consequences if current policies persist. They state “despite involving short term economic costs, lockdowns may lead to faster economic recovery by containing the virus”

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Note: This report doesn’t do a dynamic analysis that makes things much clearer, but it does a thoughtful statistical analysis based upon increasingly available data.

https://t.co/5Xmt8y7lCL

A few more quotes:

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“The analysis also finds that lockdowns are powerful instruments to reduce infections, especially when they are introduced early in a country’s epidemic and when they are sufficiently stringent.”

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“lockdowns become progressively more effective in reducing COVID-19 cases when they become sufficiently stringent. Mild lockdowns appear instead ineffective at curbing infections.”

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“The results suggest that to achieve a given reduction in infections, policymakers may want to opt for stringent lockdowns over a shorter period rather than prolonged mild lockdowns...

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On Jan 6, 2021, the always stellar Mr @deepakshenoy tweeted, this:

https://t.co/fa3GX9VnW0

Innocuous 1 sentence, but its a full economic theory at play.
Let me break it down for you. (1/n)


On September 30, 2020, I wrote an article for @CFASocietyIndia where I explained that RBI is all set to lose its ability to set interest rates if it continues to fiddle with the exchange rate (2/n)

What do I mean, "fiddle with the exchange rate"?

In essence, if RBI opts and continues to manage exchange rate, then that is "fiddling with the exchange rate"

RBI has done that in the past and has restarted it in 2020 - very explicitly. (3/n)

First in March 2020, it opened a Dollar/INR swap of $2B with far leg to be unwound in September 2020.

Implying INR will be bought from the open markets in order to prevent INR from falling vis a vis USD (4/n)

The Second aspect is now, that dollar inflow is happening, and the forex reserves swelled -> implying the rupee is appreciating, RBI again intervened from September, by selling INR in spot markets. (5/n)
https://t.co/9kpWP7ovyM

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