Leadership Check-In
Remember how lame February was?
Looking back to February, I was in la-la land. The first check-in article in February seems so 8 weeks ago. The game is remarkably different, and the rules are being rewritten, for sure. But in many ways, I am seeing cool heads prevail. Yes, way too many businesses are in a state of closure, with few options on the table. And some are assuming the worst and waiting to see what happens.
These days are defined by their complete lack of terra firma. The days all feel the same, but they present different scenarios daily. It doesn’t make a lot of sense, and I’ve gotten OK with it. Here’s how I currently try to stay focused and present across the aspects of our company.
Self
Get yourself into a calming routine if you haven’t already. Routines and rituals are essential to starting and ending the craziness with some perspective. Cut yourself some slack, too, especially if you were on a quest for the “perfect” company or team. That’s way more out of your control than it may seem, so own your moments and be good with the results. If you don’t like it, it’ll be different tomorrow anyway.
Your Craft
Lean into trusted peer connections. Now is the time to seek external points of view, formulate your own takes and validate them with a small circle of trusted advisors. I’m in regular contact with my business coach, my personal/leadership coach, my brand consultant and my financial advisors. There’s an agency-owners group we belong to as well, which is a seasoned sounding board. I know them, and, most importantly, they know me. If you do not have a trusted circle, now is the time to make one.
Team
Let your team know that just because you can’t see them, you see them. Never has your team been more of “a group of individuals” than right now. Each day, you’re seeing your culture play out, good and bad. At the same time, it’s important to know that people’s lives are upside down right now, in many cases. Find out who’s in what situation and do what you can to meet them there.
Cut yourself some slack, too, especially if you were on a quest for the “perfect” company or team.
Leadership
Keep ’em close, stay open with them and let them help find answers to these most unique issues. Our leadership team meets weekly to update one another, then we meet weekly with the entire company. It’s a “What’s on your mind?” meeting every Friday morning. I usually update the team with the week’s points of progress and setbacks. Then it’s open mic.
Operations
Now is not the time for guesswork and assumptions. You need to always know your cash runway. Cash is king right now, and the companies that emerge best will be the ones that have a strong balance sheet to weather the storm. If you’re a team or company that has a significant war chest, then you can ignore this: You should be fighting to build your balance sheet and allocate funds for new endeavors.
Business Planning
Use this period of “post-stabilization” to imagine the next version of your company. The “new normal” will be fueled by setting new needs. How is this crisis pointing to new opportunities? Will you go even deeper into your speciality, or will you double down on diversifying your offerings to meet new needs? The answers will come to you, and, when they do, be prepared to allocate real money and resources to them — Make them real, not some new PowerPoint slide.
Marketers
Think about the pain points that have been exacerbated or created by this crisis. How do you fix those? Look at your shortcomings and find an advantage in them. Can you open new ways of serving your customers? Better ways of finding and hiring talent, no matter where they live now? Even making the process of engaging your company easier and making your work more agile are business builders, and now is the perfect time to do it. The smart companies are doing it now.
How is this crisis pointing to new opportunities?
Local Businesses
These kinda feel like the new not-for-profits. Your local baker, pasta bistro and pharmacy all need you now more than ever. Don’t tell the IRS this, but pay in cash if you can and tip as though you enjoyed it in their company. A little goes a long way, and it may be the difference between reopening and closing shop.
There’s no formula here, no right or wrong. The first 30 days were about leading with intuition and empathy. I feel these next days should be more of the same, but with a finer point on them as you determine your next version of you and your company. Keep going.
