A crisis in the world of business is not inevitable but if one occurs, it is certainly not catastrophic – provided there is a competent leader who responds to such a setback with a forward-thinking attitude. Some circumstances are unfortunately be beyond one’s control, however it is often the leader’s response to such a crisis which causes an issue to escalate in the first place. The following steps can help businesses navigate through a crisis successfully and over to the other side.
Step 1: Be honest with yourself.
It is crucial that a good leader is honest and admits when fault may be pointing in their own direction, such as poor company structure. To counteract this, a leader should analyse the flaw and understand how this may have contributed to the extent of the crisis. Owning up and addressing the issue head on allows leaders to tackle the root of the problem, find a solution and take action.
Step 2: Act carefully but quickly.
Teamwork is necessary in order to diagnose the issue, no matter how strong the leader may be. Even in worst case scenarios, a strong leader may have to bite the bullet in order to overcome a crisis. Once a plan of action has been decided, a strong leader should act quickly – time is, as always, of important value. No business wants to be perceived as incompetent or uncaring simply because leaders are taking too long to initiate action.
Step 3: Stay focused.
Despite taking the necessary steps required to overcome such a crisis, further issues can still arise. Doubt is not unreasonable to possess and it can easily be dealt with efficiently. Step back and reassess the situation from another viewpoint and most importantly, stay calm. Intention and motivation are key – if these are at the forefront of your recovery, there is no reason why the business should not succeed and get back on track. “Failure today could be success tomorrow”.
How do you deal with a crisis?
Further Reading:
K. Mariama-Arthur (2017). ‘3 Steps Effective Leaders Take When Dealing With Crisis’: https://www.entrepreneur.com/article/289633
