Our firm is taking many calls from our owners and senior executives to consult with them regarding their response to the current business environment. Each business has a different set of circumstances.
However, your leadership has never been more important than right now! Now is one of those moments that define us as leaders. Will we use our time getting ‘down’ or getting better?
We must focus on what we control and not get caught up worrying about what is not in our control. Sandler Rule “Worry is interest paid in advance on borrowed trouble” - Focus on what is ‘real’ in the present and not our, or someone else’s conjecture of what is going to happen next week, next month, etc.
Many of you were leaders during the 2008/2009 economic meltdown. What you may recall is that a tremendous number of small/medium size businesses actually grew market share dramatically during those years and came out the other side much stronger than they were going into those years.
Why did that happen? So many of the large corporations went into ‘hunker down mode’ and froze. They went into defensive mode. Cut all expenses. Don’t invest in any initiative no matter the merit. Let’s sit on our hoard of cash...make it last as long as we can until things get better. There is no business out there to get anyway.
Conversely, what did smaller businesses do? They didn’t have hoards of cash to ‘wait out the downturn”. Out of necessity, the successful ones went on the offensive to generate the business they needed to survive. How? They became even more helpful to their customers, more kind, and focused even more on others' needs.
They EXPECTED to find people/businesses that needed their products and services and therefore they did...lots of big corporations did not expect to find business and therefore they did not in any substantial way. Once again validating the theory of confirmation bias.
This did not happen just because those entrepreneurs, small and medium business owners expected it to. They had to MAKE IT HAPPEN. They had to confront the REAL situation and ask themselves some questions:
* How can we most effectively manage our business operationally in this environment?
* What opportunities lie in this environment?
* Tactically what do we need to do differently to seize those opportunities?
* How do I communicate better with my customers?
* How do I communicate better with my people?
* What behaviors/actions do I want my people doing and how am I ensuring that is happening?
Fill your mind with the possibilities and opportunities that exist in this environment. How am I going to seize the day and grow our people and our organization while others ‘hunker down’ and worry about things they don’t control?
Slow down (your mind) to speed up. Stop wasting time and mindshare worrying about what you don’t control. How you respond in the next few days/weeks will define you as a leader. Focus on being proactive. What strategy, and tactics are we employing to make the best of a temporary setback? How are we using this as an opportunity to strengthen our company to thrive not just survive?
Make a plan, have contingencies mapped out to enable your organization to quickly adapt, and confidently take action on your plan. Communicate constantly with your teams and your clients. Lead by example; take care of your health and the health of your company. Use this time to innovate, streamline, uncover better ways to operate, encourage others, stay positive, and think of who you can be a blessing to today and every day. Overcome and Grow by applying the correct Attitudes, Behaviors, and Techniques.
As always, reach out to your Sandler Coach, we are here for you! Our mission is your continued success.
Your partners in professional and personal growth,
Lisa & Dan Nausley, Reggie Piercy, Wade Rowan
Take the next step in your journey.
Questions about how we might be able to help your business?
Phone: 423-702-5579
E-mail: lisa.nausley@sandler.com
Or visit: www.nausley.sandler.com
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