Bill George, from his numerous years of experience as a CEO and confronting a crisis, has composed the manual for taking care of them. Moreover, after a pandemic, maybe we all need it.
Bill discovered that leaders can’t easily accept and often go into denial about the intensity of challenges that come up. It is important to acknowledge this, by yourself and for other in order to take the right action at the right time.
Start with yourself. Accept your mistakes. This will help create an ownership culture within the organisation. That way, your employees will also take ownership of their mistakes and try to do better the next time.
Get the world off your shoulders.
It’s true that the CEO has numerous responsibilities. Asking for help is a choice and it’ll be a good decision to try that choice. Get the weight of the world off your shoulders. Others can help you achieve the goals and mission of your organization. Just guide them towards the right track.
Dig deep for the root cause
Once you have the weight of the world off your shoulders, try finding out what exactly is the problem? What led to this moment? What is the root cause? Dig deep.
Make the final call about whether you have identified the root cause of you have further digging to do. Take advice from your employees about what the underlying issue is, and you are sure to reach the root cause.
Truth be told, the first time when you want to pronounce that your crisis is finished, it will most likely become worse from that point, and your sole worry now ought to be the will to survive. Make sure you have sufficient funds for such situations.
Don’t waste a good crisis
Don’t waste the good opportunities that come up with a crisis. Make sure you tap into each one of them after careful planning.
Follow True North
Always be transparent. Don’t hide your mistakes or the truth in a crisis, it is likely that it will be found out sooner than later. Moreover, keep the other people informed about what exactly is going on.
Focus on winning
The best way to go on the offence is to invest during downturns, provided you have sufficient emergency funds. This will give you the necessary time, space and resources to think about your strategy, strengths and weaknesses in order to come out as a winner.