The present moment is an exceedingly difficult time to be a leader. It’s easy to get overextended. It can feel like there’s too much to do but not enough time or other resources to do it. Besides the obvious things you have to think about in business, there is now the fear of the unknown:
- How long will this pandemic last?
- What will be the short- and long-term repercussions for the economy?
- How will the political environment affect my capacity to run a business?
- If my business continues to perform well, is it inevitable that it will change at some point as the COVID-19 shock works its way through the economy?
- How is the employer-employee dynamic changing, and is this the new normal?
- Are consumer buying habits changing permanently, and if so, how will I need to adjust my sales model?
- How can I enhance my financial liquidity, and what is the required amount of cash to withstand the economic challenges?
- Will my business model be forever changed?
These are all serious questions without easy answers. I am sure you can come up with many more. What’s strange is that only six months ago, none of the above was even a consideration. The economy seemed to be on autopilot. Most of my clients were doing well, and the few who weren’t could see a way out. Underlying everything was a positive, “can-do” energy. I guess that’s what it feels like when you have a prolonged bull market. We tend to forget that we need to be reminded of this dynamic. However, this economy fell apart very quickly, unlike the normal economic cycles, where some level of correction is always expected. Calling it “a shock to the system” doesn’t do the situation justice.
In the Coronavirus/COVID-19 environment, it’s critical to think before you act. It is crucial to avoid overcommitting and then underdelivering. It’s just a fact of life that successful, busy people often get asked to do more than they could possibly accomplish, especially in a crisis. Maybe it feeds one’s ego? I don’t know. Maybe it’s an ever-present sense of responsibility to do more? Perhaps it’s simply reconciling your ‘Type A’ energy with a ‘Type A’ environment. Whatever the case, it has the potential to dilute your leadership effectiveness and increase your stress levels through poorly managed hyperactivity. You need to stay hyper-focused on your commitments.
I highly encourage you to limit your scope and manage your energy, commitments, and actions. Do less, but do it well. When you take on a responsibility, make sure you can meet your end of the agreement. If others are relying on you, take that responsibility seriously. Forgetting to put something in your calendar is a bit ridiculous in this climate. Missing important deadlines is inexcusable. Accountability always breaks down first at the top of an organization. Bad habits appear gradually in a leader’s life and then trickle down slowly through their company, often going unnoticed or rationalized. Unfortunately, bull markets shroud their existence.
I am often amazed by how narrow the gap is between high- and low-performance behaviors. Consistently performing small daily tasks well demonstrates excellence. Of course, every rule has exceptions. However, my most successful clients act in the following manner:
- They are rarely late to meetings.
- They usually prepare for those meetings and know what they want to accomplish in them.
- They follow up decisions with timely and consistent execution.
- They minimize distractions.
- They enjoy learning but are diligent in applying lessons selectively.
- When they say they’re going to do something, they do it.
- They’ve learned how to say “no” or “not now” and not feel guilty about it.
- If, for some reason, they let someone else down, they take immediate ownership, apologize, and do their best to make it right.
- They rarely, if ever, repeat their mistakes and expect the same from others.
- When they’re part of a team, they take pride in being the strong link that holds others together.
- They model positive behavior and strive to make the most of their own contributions.
- They have high expectations, and it shows.
- They respect the time of all those around them.
- You can count on them and don’t have to fret over their professional commitment or personal discipline.
I have no idea what our future holds. The extent and complexity of our current challenges remain uncertain. However, I do know what good leadership looks like and what it takes to navigate adversity. The most effective leaders concentrate on what is significant and prioritize what is important. Their time management is exemplary. They are careful and thoughtful with their commitments, but when they commit, they do so fully. As is always the case, the answer isn’t to do too much or too little, but to step back, reflect, consider your options, hone your focus, make calculated decisions, and then implement them to the best of your ability.
Uncertain times call for stable, focused, determined leaders who fulfill their commitments.