There is an epidemic sweeping the global business world and it’s called Currentitis. 
Currentitis is an affliction that usually starts at the head of the business organization and slowly and painfully makes its way down through the entire body of the company including leaders of businesses, leaders of leaders, leaders of people, and individual contributors.
The symptoms typically start out as relatively minor nuisances, but then over time if they go untreated present themselves as:
- Poor and haphazard short-term decision making
- Choking and reductions of long term investments in Marketing, Sales, R&D, and Manufacturing capacity
- Changing raw material vendors and other suppliers to lower quality, cheaper alternatives
- Emitting unnecessary dividends instead of reinvesting in the business
- Listening to MBA analysts who’ve never worked a day in their lives instead of listening to experienced internal leaders and external advisors
- Reducing headcount and forcing managers to “do more with less”
- Putting random freezes on travel just to make quarterly profit numbers
While some of these things may sound funny, Currentitis is a real thing that if left untreated can kill companies.
In a recent conversation with a CEO of a Fortune 500 company who I consider a friend and good lightening rod of all things current and corporate, he shared that he now spends about 50% of his time dealing with the analysts and making decisions that will impact the latest quarterly results instead of focusing on the business strategy and long-term issues of the business. He shared that when he first became an executive leader bout 20 years ago, that it was almost unheard of to spend more than a few hours a year with the analysts outside of investor presentations that were meant to raise capital.
Is there a Cure for Currentitis?
If left untreated, Currentitis will have negative and potentially devastating effects. In our Advanced Business Acumen learning journeys, I share strategic frameworks and tools of financial management that help leaders see the big picture better and feel more comfortable focusing on their core value proposition that if executed well will result I better long term outcomes than focusing in the short-term decisions that drive he perception of the latest quarter.
Here are 5 things that can help cure Currentitis:
Run your business from a strategic plan, not a spreadsheet
No effective business leader should run their business from a spreadsheet. A spreadsheet is a tool that tracks and measures performance, not drives it. A strategic plan is the roadmap of the business; in includes your value proposition to your customers and how you are going to execute that value proposition to deliver the right value to the right customers. Then, and only then, should you use a spreadsheet to measure success and adjust your plan.
Develop a strong strategic plan that focuses on three-year increments
Gone are the days of the 25-year strategic plan, the 10-year strategic plan, and the 5-year strategic plan. The best that most leaders are going to get is a 3-year plan and it’s up to all leaders to make the best of it and optimize every resource to flawlessly execute the plan.
Think big and teach your organization to think big
Currentitis forces leaders to think small. You can break the illness by thinking big…really big! When conducting long-term business planning, it’s critical to think through all options including the big ones such as merging with your biggest competitor and then spinning off valuable business units that can thrive by themselves and create even more value.
Have the courage to communicate your belief in the long game and not the short game
Every business leader must know that everyone is watching. Being bullied into making poor long-term business decisions by analysts looking for a quick buck demonstrates poor optics to your own company and to competitors. Show the right courage and explain the long -term decisions and why they will create even more long-term value.
Implement reward systems and performance systems that encourage long-term thinking
One of the easiest ways to show courage, get organizational buy-in, and execute for the long term is to incentive and train people for the long-term.
In summary, Currentitis doesn’t have to be life-threatening. It’s a bad disease, but some strong doses of long term planning, courage, and evolved incentives can get the patient healthy very quickly.
