April 24th, 2020
INTRODUCTION: As you know, the US is implementing a three-phased approach to reopen the economy after stay-at-home orders are lifted. Just as the US is saying it’s time to open our economy, it’s time for us to open up family conversation again. In Phase 2 conversations, we grapple together with honesty about our response to this current reality, which will keep us agile, responsive, and connected in these unprecedented times.
ACTIVITY: As a result of COVID-19 and the subsequent economic impact, many people are feeling the need to make a pivot – to make a substantial change in strategy given a changing reality. To make these pivots effectively, they’re seeking ways to open conversation with family members about how they can adapt together in this unique and unprecedented time. To this end, we are outlining an approach to have a Pivot Pow-Wow with your family members. A Pivot Pow-Wow is a conversation that invites and inspires collaboration from your family members in order to make a successful pivot.
Some common sample topics that would work well for a Pivot Pow-Wow include:
- Adjusting your philanthropic approach to respond to COVID-19 and the resulting economic impact
- Finding non-financial ways to make an impact in your local community
- Deciding whether to have young adults return to university or defer or transfer to a local or more cost-effective school
- Adapting investment policies in light of the current economic climate
- Adapting family business practices in light of the current economic climate
- Determining ways to stay connected and have fun this summer when your annual summer family reunion or vacation was cancelled
- Developing an approach to in-home care so an older loved one can be removed from isolation in an eldercare facility
When it’s time for your Pivot Pow-Wow, (which may be via video or in-person), follow the guide below:
- Begin your meeting by showing this video, featuring Eric Ries, author of The Lean Startup to offer inspiration and focus.
- After the video, use the following talking points and questions to guide your discussion. (PROCESS TIP: Leaders speak last! Allowing others to share their thoughts before sharing yours will generate the most effective discussion.)
- Eric Ries defines a pivot as “a change in strategy without a change in vision.”
- What is our vision for what we are hoping to accomplish?
- What strategy is no longer working for us in light of COVID and the resulting economic impact?
- Eric Ries also said in the video that “Pivoting is redeeming the failure because we learned so much about what’s possible.”
- What have we learned from the roadblocks we have faced?
- What experiments (small changes) could we implement that would help us learn more about what pivots might work well for us?
- What pivots would alter our course, but still retain our vision for what we’re hoping to accomplish? (PROCESS TIP: Encourage brainstorming – don’t analyze the viability of any ideas shared at this stage.)
- Once you have walked through the talking points, narrow your focus, and record any Action Steps that you’ve identified to maintain momentum on the best ideas you’ve generated.
- Ask: Of all that we shared, what one or two things can we do to make an effective pivot?
There you have it! Here’s hoping you generate some innovative ideas and enjoy a meaningful conversation together. As always, if you’d prefer to have a facilitator walk you through your Pivot Pow-Wow, we would love to assist! Contact us here.
FOR THOSE WHO JUST NEED TO PROVIDE AN UPDATE TO FAMILY MEMBERS…Stay tuned! The next blog in this series offers a guide for Update Conversations.
LOOKING AHEAD:Wondering what a Phase 3 approach to your family communication and decision-making looks like? Just like our country’s Phase 3 gets our economy back in action, in this phase your family puts the wisdom and learning from your Phase 2 conversations into action, implementing innovation and pivots that are aligned with your values and goals. Easy, right? Well, we know it’s not always simple to apply these ideas with your own family. So please reach out – we’d love to hear how your family is facing this time together – contact us to schedule a confidential, complimentary consultation with a member of our team.
LOOKING BACK: Check out a previous post from our this series, Share and Tag Activity, for more easy ways to prompt Phase 2 conversation with your family members.
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