Leading people through an economic downturn requires a balance between addressing immediate challenges and maintaining a long-term perspective. Prioritizing employee well-being, adaptability, strategic decision-making, and relationship building are crucial aspects of effective leadership in such circumstances, along with making clear-headed tough choices quickly.
In an economic downturn, you may need to adapt your leadership style to address the unique challenges. This might involve being more hands-on (without instilling fear), fostering open communication, and actively soliciting ideas and feedback from your team. Empowering your employees to contribute to problem-solving and decision-making can be crucial, as their insights can be invaluable during difficult times.
Leading a business during an economic downturn requires making tough decisions to navigate through the challenges. You may need to reevaluate business strategies, streamline operations, and identify areas for cost savings. We will address how to transparently communicate the rationale behind these decisions to your employees, keeping them informed about the company’s direction and the steps being taken to ensure its survival.
Things we cover in this webinar:
- How external economic circumstances can reveal (or mask) leadership capability (or lack thereof)
- Best practices for managing your own mental, emotional and physical health during tough economic times.
- How to create a Growth Hacking Flywheel” that leverages your current customers to drive additional growth.
- How to “lead up” and positively influence leaders above you in the organization.