Originally, my post today was going to dive into some of the doom and gloom posts making the rounds about how bad things are. My day got away from me, so we’ll aim for that post happening tomorrow.
What I will say now is even though organizations are decidedly in crisis mode, this isn’t the first time we’ve faced what seems like an existential threat.
And just like every other crisis the field has faced, it is separating organizations into two primary buckets:
- Those who prepared by building endowments, creating emergency operating reserves, diversifying revenue streams, and becoming relevant to their audience.
- Those who didn’t.
I recall the housing bubble downturn ripping off the veneer of stability for some groups to expose dysfunctional governance and overdependence on a handful of revenue streams.
Perhaps unsurprisingly, worst case scenarios saw those orchestras liquidate; but others survived and some thrived.
Undoubtedly, the coronavirus crisis will be one of the largest challenges the field has faced to date. While we navigate these waters, be leery of voices that promise salvation by way of empty sound bites.
More on this tomorrow but in the meantime, don’t let the prophets of doom and gloom cloud your thinking. And if you haven’t taken a moment to register your employment status for this week’s poll, please take a moment now to submit something:
This Survey has expired. You can view the results at the State Of Employment Series Archive: https://adaptistration.com/series/covid-19-state-of-employment-poll/