The recent coronavirus outbreak has caused rapid and extraordinary changes, particularly in the lives of business leaders across the world. More importantly, their status of businesses are connected to the health of its employees, the health of the communities, and the health of the entire planet. Since the past two months or so, surprising transformations in our everyday lives are convincing businesses to get accustomed quickly and find various ways to survive and thrive.
Worldwide unrest has been making it tougher for leaders to find their balance – and those who want to work from a place of transparency are rather shaken from this global health storm. So the question that most of these leaders are confronted with is this: What can we do to move past such distinctly uncertain times?
Efficient and positive business leadership will help manage the crisis, regain strong communities, and be more prepared for moments of confusion and chaos. However, with so many unsure encounters emerging all at once, a lot of leaders might struggle to pave a clear path forward.
To gain a better position to respond efficiently, leaders must work on three essentials – identifying a clear purpose, providing support for investors and clients, and strengthening your managerial and emotional spirit.
What is your purpose?
The first step to take is to reassess the purpose of your business. The enticement for opening businesses in these COVID times is frequently to go small, to stoop down, and focus on essentials and values. Right now, rather than tapering down their focus, business leaders in crisis must think about holding back and remembering their basic principles. Highlighting their company goals and purposes will also show your intentions to the world, and this imparts confidence and generosity among investors and clients who share these principles. In these COVID times when change is on a large scale, workers, shareholders, and employees alike will be more inclined towards companies where their purposes mirror their personal beliefs and morals.
What actions can you take?
This is the second of the three most important steps – to be aware of what actions need to be done to convey support to those who are relying on your business or organization, especially those who have more critical needs. This entails reevaluating who your shareholders are – from your clients and investors to workers, and the whole community as well. You should determine their needs and acknowledge that their needs may be different from each other. Finally, this involves identifying ways by which you can best serve them, which includes moving forward with operations with social distancing and health and safety measures in mind. Your shareholders are key people who push and gauge your success, especially during a time when success feels hard to attain.
How do you strengthen your emotional and managerial spirit?
This third step encompasses your need to find a resolution to weather the storm that is COVID-19. You can only do this if you are emotionally strong with tough managerial skills and spirit. To make this adjustment possible, identify the behaviors that make you a more compassionate, resilient, and competent leader. This may involve starting a new physical activity to energize you, regaining the focus that you need to become better, or simply making sure that you get adequate sleep—in a nutshell, finding equilibrium.
Similarly, it is also vital that you inspire your teams. When confronted with a tremendous number of serious decisions, business leaders – or any leader for that matter – will possibly feel tempted to tighten the grasp of their position. Still, a resilient leader relies more on shareholders and collective insights, structured throughout a network of people with clear directives. Encouraging leaders with the right attitude and personality – those who are constantly driven and versatile and are willing to make tough but brave calls – is crucial for sound and quick decision making.
The ability to be aware of our obligations and opportunities and to understand who we truly and what we value the most are skills that will strengthen us during and after the pandemic. As we traverse a vague and narrow path today, how we deal with today will determine where we are going tomorrow.