Listen, by now you’ve seen that there are a number of pitfalls with managing a business during a time of crisis. If you’re a truly committed, 10X business owner, you also understand that there are areas of opportunity within those pitfalls–areas of opportunity you should embrace for future success.
Navigating these opportunity areas takes wisdom and intentionality. Transforming these opportunities into future success is all about spending time with the right people, in the right cadence, and in order. Here’s how I do it, and here’s how I recommend you do it, too.
Stay visible during a time of business crisis
As the business owner, you have the most to lose if the wheels fall off at the end of the day. Your work never stops: evenings, weekends, holidays, family vacations. Your loved ones know how much you give to the business, but your team likely doesn’t see all the blood, sweat, and tears you’re giving the business in the “off” hours.
The point is, your team needs to feel the same level of commitment from you that you’re asking of them. One way you can do this is by increasing your visibility. This is not the time to go inward, disappear into your inner circle, and isolate from the team. The team needs your energy, your presence, your leadership to help bridge the gap you’re currently facing.
This is where seemingly great leaders fall down. They don’t know how to model leadership in a time of crisis when they are under the highest level of scrutiny. Trust me, your team is looking deeply at you, analyzing your words and actions, and observing if your commitment is less than 150%. Show up the earliest, stay the latest, and contribute at the highest level, like you did when you first started the business. Your team will notice and will be inspired to do the same.
Your number one obsession? Your customers!
Okay, now you’ve made sure to prove to your team that you’re all-in, it’s time to focus on the top priority: fulfilling the needs of your customers. You and the entire team must be obsessed with making your customers feel valued, fulfilled, and delighted by your services. Reach out to every customer for personal touchpoints, ask for feedback and improvement opportunities, ensure the highest level of customer satisfaction.
Of course, you should have been focused on this before your business was hit with an emergency, but now that you are in the midst of one, meeting and exceeding your customer’s expectations in every single interaction should lie at the heart of your business’s mentality. Never lose sight of this and you’ll position yourself for survival and success.
Schedule daily 1-on-1 meetings with direct reports
Connecting with your direct reports is another crucial way to stay aware of customer needs and the mindsets of those who are serving them. Exponential growth or crisis can sometimes make the owner out of touch with what’s really happening in the business, internally and externally. Show your managers that you care, better understand the pulse of the business, and reduce the opportunity for surprises. Scheduling thirty minutes with each of your direct reports is a sure-fire way to direct the business’s trajectory during a crisis, get a feel for your management’s state of mind, and keep your customer’s needs (and how you’re meeting them) close.
Schedule daily team meetings
People move businesses forward but teams can lead them to continuous victory. Fifteen minute, daily team meetings are opportunities to recognize wins, set clear daily priorities, and align all departments with mission, vision, and core values.
It’s also an opportunity to share key performance indicators with full transparency. For example, your finance team should be discussing your cash status on a daily basis. What did you bring in yesterday? What do you need to bring in today? What are your cross-selling opportunities? How can you make sure everyone has total clarity and will spend their day operating at maximum capacity?
Use your fifteen minutes wisely by establishing a process and specific format for moving through each department. You’ll show your team how focused you are on winning and they’ll follow your example.
Schedule recurring all-team meetings
Recurring all-team meetings are your opportunity to lift up the collective organization through your visibility, candor, and leadership.
Depending on the size of your organization, these meetings should 60-90 minutes each quarter. Focus the time on providing operational and financial data, regardless of how good or bad the trends are you’re presenting. Transparency is key. If things aren’t going the direction you need them too, use this setting to clearly communicate what needs to happen from each department –and from you as the leader–to get back on track for success.
Create clear, time-based action items. Emphasize accountability, including your own. Provide updates at the next meeting. Follow this advice and you will reset your business for success.
Are you the best, most committed leader you can be, in good times and in bad? Are you a 10X business owner who needs help making tough decisions?
Contact Cardone Ventures TODAY to learn how Brandon Dawson and the team can help you scale and grow your business!