You can talk a lot about the missions, visions and objectives that drive business,but there are moments when it comes down to a single objective: survival. If your business cannot survive then all the great purposes, the service to customers, the paybacks to stakeholders, the protection of the environment will all be lost in a messy insolvency.  But before that happens there are steps that you can take to give your business the best chance of survival.

Survival is our deepest human instinct, and it requires a single focus.  It means operating outside your comfort zone, often thinking and doing the unthinkable.

One of my regrets as a leader is letting companies go on when they should have been shut down.  Why do we do this?  The human race would not have survived without hope:

• “The market may change”
• “I remember x and y who didn’t give up, and in the end turned the corner”
• “We’ve got a great idea/product/team/position/” (delete as applicable)

It’s a very natural reaction, but in the end it causes more damage to everyone.

You know you are in survival mode IF:

• You cannot pay your bills with your current expenses and cash flow
• Lending has dried up
• Your creditors are hammering at the door
• Your customers are not paying 
• Staff are leaving faster than you can recruit them

Now is the moment for choices and for facing reality. This is the moment when leaders switch to the Survival Mindset. It’s different from the mindset you have had in the past. It is:

• Tactically adaptive,
• All about the present
• Make the big changes not the little tweaks
• Not about financial models, they can be a substitute for thinking
• Knee jerk cost cutting is not the answer (yet)
• This is the time for honesty – starting with yourself and everyone else

There is a plan for this moment – the Survival Plan.  Start by gathering whoever of the team is left and any other useful contributors.  Take two days (no, you can’t afford the time but the future of the business hangs on this)

• Start with a story about where you are going - create scenarios
• Work on what do you need to get there
• Brainstorm:
  • What are the big actions you can take?
  • What assets do you have?
  • How much time have you got?
  • Is anything sacred?
  • How do you manage your customers, investors and suppliers?
  • What skills will you need – this will tell you what people you need?
  • What infrastructure/ buildings /equipment?
  • What sacrifice? Start at the top
  • Who are your allies?
  • How do you communicate?

If there is a realistic path, then start to plan and execute – do not waste time on hope.

If there is no viable path forward, then accept that you have come to the end of the line.  Then your plan is different, end it fast, care for your people as much as you can and move on.