Category: Entrepreneurship

In the world of professional coaching, you can find a coach who has decades of experience but is “only” an assistant coach instead of a head coach. Meanwhile, you can find a young coach with only a few years of experience but is a head coach.

I want to be clear that there’s nothing inherently wrong with either of these scenarios. Not everyone wants to be the top dog in an organization. In fact, some people just enjoy doing the job instead of dealing with all the responsibilities of being the leader. 

Where a lot of organizations fail is when they promote or appoint people into leadership roles when that person a) doesn’t want it and/or b) is not qualified for it. These situations can occur when people are promoted primarily based on years of experience or seniority or based on status (e.g. award winner, donor, family member, etc.).

In a high school science class, I remember learning that energy is never created or destroyed. Instead, it changes from one form to another–this is the First Law of Thermodynamics.

In some respects, the same law can be applied to our economy. While many individuals and businesses are suffering financially, many individuals and businesses also are flourishing financially. It’s not like money disappeared; rather, it moved from one segment to another.

Here are some examples of the transference of money during the COVID-19 Pandemic. If your business has been negatively affected by the pandemic, is it possible to pivot, diversify or shift directions?