Ways To Stay Resilient As a Leader During Turbulent Times

I’m always on the lookout for articles about leadership. Here are a few snippets:

All the uncertainty takes its toll. Each new hire, layoff and expense gets analyzed to ensure whether it leads to growth and, in some cases, even company survival. One of the biggest mistakes during recessionary times is making decisions too late . New entrepreneurs navigating this climate for the first time face difficulty making strategic predictions and knowing who to trust, seek advice and confide in. Even seasoned entrepreneurs, who have been through previous recessions, have learned that going it alone is not a good strategy.

How do you make difficult decisions confidently? It's vital to surround yourself with other business owners, traveling down the same journey and learning from each other's experience, to have the confidence to make hard decisions.

Facing the upcoming economic turbulence, here is the 7-step process to make difficult decisions and guide your enterprise to smoother times.

1. Get clarity on the core issue.

The adage "it's lonely at the top" doesn't have to be the case. If you feel you cannot share your day-to-day struggles with anyone, take some time to create the space you need to get clear. What is the underlying issue? It may not be an underperforming staff member. Perhaps it is the company culture overall or an outdated offer. Get to the root cause issue underlying the situation. You are not alone, even if you feel lonely.

2. Air the issue with your peers.

Napoleon Hill's bestselling book "Think And Grow Rich" introduced the concept of an alliance of business leaders that convene around a given topic as a "mastermind." Create a group of support between five to 10 individuals; they can be in varying industries, ages or demographic — the more diverse, the better. Articulate your issue to the group for their assessment.

3. Seek first to understand.

Ask clarifying questions to understand in a round-table style session; at my company, our philosophy is "don't move the fence until you know why the fence was put there in the first place." Our members want to ensure they are helping each other solve root-cause issues rather than symptoms. Have everyone ask clarifying questions to understand in a round-table style session. When everything is understood, you are better able to receive valuable feedback.

4. Commit to action.

We intentionally use the word "commitment" in board meetings. Members commit to each other that they will take a specific action. Commitment implies not only action but that each person is committing to their peers that they'll take action. These commitments are a key part of moving key issues and opportunities forward.

Want to know more? Head on over to the full article here for more ideas and perspectives. Afterwards, why not drop me an email to share your thoughts at [email protected] ; or call me on 0467 749 378.

Thanks,

Robert