If you are a CEO, the time to lead is now!
It is a fact of life that the only constant in the world is change. You cannot resist the future you must only embrace it. In addition, as we’ve seen lately, the present can change course quickly. This is why adaptability is such an important leadership trait. I have no idea how long it’s going to take us to dig out of the economic challenges related to the Coronavirus/COVID-19 situation. Anyone who speaks with certainty about when this will end is misleading themselves and others. Until we have a cure, all bets are off.
Sometimes all we can do is ensure a strong foundation and prepare for what comes next. Of course, we must navigate the status quo and ensure that our organization stays afloat. All of this will inevitably involve some tough but necessary choices. You may have to dig down deep within yourself to find what’s needed. Planning for uncertainty is much different than dealing with market stability. It requires more thoughtful decisions and smarter actions. Passivity is dangerous. The right intentions will be critical to your success. I recommend a CEO take the following eleven actions to ensure the long-term sustainability of their organizations:
In my experience, a good CEO will always rise to the occasion. If it were easy, anyone could do it. Leaders don’t have the luxury of wallowing in the difficulty of their challenges. It comes with the position. Even mediocre leaders can achieve decent results in a bull market. When everyone else wants to retreat, you need to step up and press forward. The good news is that once we get through the worst of this, your organization will be even stronger than before all this started. As is always the case, the job of the CEO is to minimize the downside and maximize the upside when it comes.
Are you ready?