Tags: 10 tips | business | leaders | survive | coronavirus | crisis

10 Tips for Business Leaders to Survive Coronavirus Crisis

10 Tips for Business Leaders to Survive Coronavirus Crisis
(Dreamstime.com)
 

By    |   Friday, 27 March 2020 11:09 AM EDT

This is a trying time. The rapid spread of coronavirus is a truly unprecedented event for each of us, and as business leaders we face an immense amount of pressure and responsibility in navigating uncharted waters.

In the past month, teams around the world have had to manage huge economic and supply chain disruptions, quickly shift to a virtual format, and in some cases completely halt operations. Working through these obstacles is not easy, but with the right tactics it is manageable.

Here are 10 actionable steps to make a smooth transition, maintain productive operations, and navigate a health crisis such as the novel coronavirus (COVID-19).

  • 1. Anticipate and Act: The key to a smooth transition during a crisis is to be prepared and take action before it's deemed a reaction. Identify triggers and what staff should do in a given event, so that every link on your team is confident, motivated, and prepared. Not only will this preemptive work help everyone mentally prepare for what's to come, but it will create a smoother path forward overall.
  • 2. Communicate Clearly: Communication has never been more key, both internally to employees and externally to partners and clients. It is your role as a leader to step up, and again, allow all those around you to understand what they can expect of your business in this time of uncertainty. If anything changes, address it immediately with all those impacted.
  • 3. Prioritize Health and Safety: A crisis like this is so much bigger than your company. Focus on the health and safety of your employees and their families first. Make sure they're supported and understand what their working environment might be like at home. Ensure people are emotionally supported and feel they can bring their personal challenges to the table.
  • 4. Virtual Face-to-Face: Set standards and expectations for communications that promote human connection. All meetings should default to video conferencing. If miscommunication or frustrations occurs in written form, immediately pick-up the phone to discuss. Emotions left to be interpreted over text can be massively disruptive.
  • 5. Do Frequent and Shorter Check-ins: Made famous by the tech industry, daily huddles or "scrums" to connect people, remove blockers, and track progress are essential for a multitude of reasons. As a leader, it allows you to keep a pulse on morale and productivity, and empowers you to swiftly change direction if necessary.
  • 6. Assess Every Role: To maintain morale and productivity, as a leader, you must evaluate every role and ensure people feel utilized and secure. If you've done the work to anticipate shifts in business operations due to the crisis, you can ensure that your teammates are just as busy and effective in a remote environment.
  • 7. Build Future Value: If sales or production come to a halt, and you are fortunate enough to have some cash reserves to weather the storm, use the down time to fix anything that has been paining your business, push new product development, or create new materials to help your sales team. Staff time may also be better used in creating more sales later on rather than panicking and trying to make sales now.
  • 8. Empathize with Your Customers: Understand their needs and concerns. How can you help them in this new environment? How can you continue to build relationships and plan for the future together? How has their day-to-day changed and how do you become relevant to them?
  • 9. Don't be Opportunistic: Just don't. It will ruin your reputation in an instant. Since this crisis began, many of us have witnessed unacceptable behavior - remember that attempting to profit off of peoples’ fears in a crisis will not make you friends. This is a time to work together and look out for one another.
  • 10. Be Positive, but don't Postpone Bad News: Be a source of inspiration in what can be a very worrisome time for your team. Celebrate wins, no matter how small. Express gratitude, even if it's just for showing up. You never know what someone is going through personally in events like this. If you're successful, work can be the one normalcy and source of positivity for your team. This all said, there will likely be hard decisions and bad news. Strike a balance of positivity and realism, and allow your team members to either be a part of the solution, or at least anticipate changes to come. Be human, but don't wait too long to deliver bad news.

It is times like these where business leaders are truly tested. You're asked to be steadfast and decisive, but empathetic and human. You often carry the weight of your team, your company, and your own family on your shoulders. It's not an enviable position, but it's also where true leaders prove themselves. Successfully emerging from an event such as this, when many others may not, could provide the opportunity for long lasting success.

Remember, in the words of James Lane Allen: Adversity does not build character, it reveals it.

Ben Larson, CEO of Vertosa: Calling upon his experience as a serial entrepreneur, investor, and startup adviser, Ben and the Vertosa team enable mainstream businesses to enter the growing cannabis industry by providing water soluble active ingredients to infuse beverages and other products. 

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StreetTalk
It is times like these where business leaders are truly tested. You're asked to be steadfast and decisive, but empathetic and human. You often carry the weight of your team, your company, and your own family on your shoulders.
10 tips, business, leaders, survive, coronavirus, crisis
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2020-09-27
Friday, 27 March 2020 11:09 AM
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