You may recognize the reference to the recent movie. It is a great movie, even if you’re not a car buff and it lends itself to a great example for the current unprecedented situation that we in business find ourselves in.

The basis of the movie focuses on your average man’s car, the Ford, whose owner Henry Ford II decides he wants to take on the iconic sports car, the Ferrari who has won the world famous Lemans 24 hour race in France for many years in a row. Henry Ford tries to buy the bankrupt Ferrari, so that he can take over the company, control the business and Ferrari’s decision making in the Lemans race. The run at buying Ferrari falls through and then Ford decides it will do whatever it takes to build a sports car to beat Ferrari and win the world famous race.

What business lesson does a great car movie have to offer? Ford’s obsession to beat Ferrari finally did pay off; although, the road to get there was very challenging. During these times of crisis and uncertainty many businesses are thriving while others are at best on life support. Some businesses are barely surviving due to reasons beyond their control or possibly due to the industry they are in. Yet others may be just surviving simply because they have become complacent, like Ferrari did.

The business environment has been amazingly great for most companies for a number of years now. When times are good, it’s all about execution, delivery, and customer service. Strategy and transformation may be interesting concepts, but why do anything differently when times are good, right? Actually, it is when times are good that the best companies in the world make changes to stave off complacency.

Although, times may be considered tough right now – it might be a great time to think more strategically or even about transforming your business. Are there things within your business you need to change? If you’re honest with yourself the answer should be a resounding yes! Now is the time to rethink your business model from top to bottom. Bring together your leadership team, outside advisors, possibly even suppliers and other partners you work closely with and ask the question – what changes need to be made for our business to thrive this decade?

Keep an open mind when you listen to the responses. In other words – don’t get defensive! Resist the temptation to shoot down ideas as soon as you hear them! Listen to the responses openly and honestly, and take the feedback to heart. Even if you don’t transform your business drastically, there will be at the very least several golden nuggets of advice that are shared in the spirit of wanting you to succeed as a business owner or leader. You have everything to gain and nothing to lose by having several strategic planning brainstorming sessions. Get the ideas flowing with the “two heads are better than one” philosophy and see what great changes lie ahead as your business moves into the post-pandemic time. We are all looking forward to that!