An Entrepreneur’s Guide to Leading a Company Through Coronavirus Chaos

The coronavirus pandemic has impacted the world in numerous ways. Aside from being a massive health threat, the fast spread and lethality of the virus have also proven to be damaging to many businesses. While not everyone will survive the crisis unscathed, business owners could still observe certain measures to ensure the survival of the business they’ve worked so hard to build.

Crisis Management

A good crisis management plan can help a business emerge stronger after the dust has settled

The first step is to face the chaos with a well-thought-out crisis management approach and immediately put it into action. This means focusing on a few top priorities and how to regain some sense of balance amidst the anxiety and demotivation that comes with the coronavirus pandemic. Try reconfiguring operating rules and set smaller goals employees can better feel that something is getting accomplished despite the times.

The Stockdale Paradox

Entrepreneurs are also advised to adopt the concept of the Stockdale Paradox. The framework entails people to face brutal facts while still remaining positive that they would eventually overcome them. This could also translate to a business owner communicating bad news to their workers as they show confidence that they could work through things together. Once the staff knows their boss has their backs, they would be more cooperative in finding solutions.

Continue Team-Building Efforts

You can continue to foster teamwork by regularly holding video conferences with staff that work remotely

Although a lot of the workforce is stuck working remotely from their own homes, business owners can still continue their team-building efforts virtually. They should make a habit of regularly checking in on their staff finding out their current stressors and motivators in their new work setup. This would help business owners help their workers to stay productive and reign them in despite the physical distance.

Stay in Touch with Employees

Aside from checking in on workers as a group, it’s also important that a company leader does a one-on-one check-up of their staff. Working from home can lead people to lose visibility and miss information they usually get from others. It would also help if a boss can tune in to their team member’s personal fears and concerns amidst the chaos brought by the coronavirus pandemic.

Look for the Positive

Remember that the future still holds good things despite the current times

Most importantly, business owners and leaders should use these uncertain times as a learning opportunity. Like with other unexpected events like economic downturns, times like these can generate positive change and some creativity. Be aware of the new things one can use or implement once the crisis has passed.