The actions you take (or don’t take) to help you survive the crisis can easily destroy your business in the recovery that follows.
Ask me how I know!
I’ve led business through a number of recessions. The one that hurt most was the first dot com crash.
We made it through the recession. With a LOT of pain. For the business, the team, the owners. All of us.
We took the time to make a number of decisions to change how we went to market. And they worked really well. Once we were out of the crisis, our pipeline rapidly headed north.
Unfortunately, though, once the recovery started, many of our team started to look for alternatives. For understandable, but very avoidable reasons.
They didn’t feel valued. Put differently, our values weren’t being demonstrated when it came to them.
It turned into a 40% employee churn. During the recovery. Enough to make a business insolvent.
We made it through in the end, but with more blood, sweat and tears than we really ever needed to shed IF we’d done things differently during (and to be fair, before) the crisis.
It’s essential to survive. No denying that. But that’s really not enough. We need to survive with our values intact, communicated, and lived.
To talk to Iyas about how to protect your business through the crisis and build a stronger and more purposeful one coming out of it, just book a time to chat.