Option Solving Blog

Based upon the previous option solving exercise, company leader and his team almost unanimously agreed to pursue Option E: Pursue SBA loans to finance salaries and benefits until we can reopen.  This would allow his firm to hold everyone together, pursue in-advance initiatives, and prepare for re-launching their business. It would also help sustain morale and cement team spirit. There would seem to be a number of options, although the challenge would be to figure out their best approach, get everyone on the same page, and then execute in an optimal way.

The team was encouraged to pursue an option solving exercise to consider its alternatives now that funding would be available. It therefore posed the following question to clarify its optimum next step, such as: “What is our best option for holding my organization and people together during COVID-19 pandemic- Peel the Onion –Option E: SBA loans to finance salaries and benefits until we can reopen; considering 1) there’s minimal flow of business, 2) staff are required to stay at home, 3) financial resources are acutely short, and 4) uncertainty about when things will re-open again?” They again stuck with four key considerations to challenge everyone’s thinking about this issue, although amended #1. By keeping it to four, it will reduce the complexity of decision-making when the moment arrives: despite there being others.

They were then advised to create two yin and yang “bookends,” as these will help their intuitive minds to remain focused. Bookends such as these are vital for preventing their fertile intuitive minds from wandering and losing concentration. We are mostly unaware of how powerfully valuable but foot-loose our intuition can be unless we can properly keep it focused.   

Their bookends turned out to be: “Take each day as it comes until loan secured” – minimal team focus or leadership, and “Prepare to sell the business,” difficulty in finding a buyer. We italicized detractors associated with these least likely options. Even so, they will nudge the team’s intuitive thinking into high gear – see our Latest Worked Example.

This challenged the team to produce at least five realistic options, although you will see they proposed six – prior to any emotional distancing, which is a form of objective thinking, before making their choice …perhaps after 2 hours, later in the day, or first thing tomorrow morning. You can replace their proposed options with any of your own. You can see one of their options as: Option FF – Primarily focus on marketing, customer relations and revamp products/services.

They may decide to give themselves overnight to sleep on it. The other and even better option is to step away from this pictograph, as indicated above, and then make a collective decision based upon anonymous votes. From there the team can put an action initiative together, while things are still fresh in their minds, to implement their decision.

If you have an example of your own, please share it with this blogger, through the COMMENTS area or contact him at peter@ileadershipsolutions.com – COVID-19.  Thanks Option Solving. (NOTE: Our next posting will be in two week’s time: “What is the optimum approach-timing for the US President to reopen the US economy?” Let’s have your COMMENTS or go to peter@ileadershipsolutions.com to connect with the blogger. Also consider buying the book: “Smart Decisions: Goodbye Problems, Hello Options” through amazon.com)

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