When business time are tough, we could easily go downhill with the business unless our strength pulls through. Business leaders in a thriving organisation are looked up to and even idolised, but when things go sour they need to maintain their reputation and leadership to avoid bringing down the team as well. A negative environment does not normally lead to a positive outcome.
While it is easier said than done, keeping calm and maintaining leadership during a tough time is actually tackling the issue in a productive way. Here are some ways to build your leadership when business is struggling…
- Act fast. When the shift begins, communicate the situation immediately to your team with your strategic solution. Instead of evoking feelings of anxiety and stress, show them calmness and positivity – be their role model.
- Seek outside advice. Most people in your organisation will just tell you what you want to hear. Go to networking events or speak to external entrepreneurial peers – seek advice from those who know what you are going through. Chances are they have already been there themselves.
- Listen to feedback from your team. Put your ego aside because the voices of your team matter and they need to know and feel that. They are in the business day in and out so while you are stressing ‘undercover’ they may see solutions that you do not.
- Make contact with everyone in your organisation. Direct contact with your employees will help generate trust, which you will need more than ever. Their trust will lead to belief – belief that your organisation can make it through & succeed. Try not to lurk behind the scenes and expect messages to get passed down…not at a time like this.
- Take action. Encourage quick decision making from your high level team and help boost their confidence. Confidence is one of the main keys to success.
- Negotiate with external investors. Be open to bringing an investor on board – they can be the solution to not only bring your business back on its feet, but to also take it to great heights you’ve never reached before.
If you are already in a rough patch, the above may seem extremely difficult – know that your ego, pride, and emotions must be put aside. You got a business (and team) to take care of!