By Dr John Nyamunda , Tagny SA
Big Picture
Crises are the heavy storms which threaten our existence, but can be our only viable catalysts to transcend your limitations. Many businesses are going through crises right now , with daily power cuts, disrupted supply chains, rising cost of doing business, policies and regulations that threaten the very existence of companies, disruptive innovations and foreign competitors with bottomless pockets that threaten to undercut your prices.
Yet, it’s in these moments that greatness is forged.
Why should you care?
We often dread business or personal crises, but they can be your only hope to break routine and face difficult things to reach your potential. Routine is a comfortable jail, especially if it leads to good outcomes. A jail which will make us tell sad stories about all those “lucky people” less talented, but are doing better than you. Justification after justification!
To be truly great, that is, to reach your potential, you need a stretch. Usually a stretch comes in form of a crisis that wipes away options and forces you to try things were never tried before and think of things you never thought of before. As Roy Bennett (in his book The Light in the Heart) puts it, “Challenge and adversity are meant to help you know who you are. Storms hit your weakness, but unlock your true strength.”
Lesson
We are often prisoners of successful routines. When we meet a small crisis or opportunity, the tendency is to postpone taking action. You hear some grumblings; a new competitor is coming or new regulations are coming. “Let’s wait and see,” you say. Why wait? Don’t fall into the procrastination trap!
When you realize you need to take action, immediately create an action plan. Not an elaborate 10 step plan, just decide when and where you will start. If you are into MS Outlook or Google calendars, book a meeting on that day. Increase leverage on yourself by selecting a day and time you know you have a gap and are usually motivated and deal with the issue at hand.
Resistance is normal, just like writer Joan Didion says, “I do not at any time know what I am going to write. I am surprised at what comes out.” Simply acknowledge the resistance and give it its proper name, “fear of failure” and get started. When you get started, even with the easy tasks on your plan, the mental block subsides and often you will have ideas you never had before.
Bottom line
Your ultimate success in life is often a story of overcoming crises and exploiting transformative experiences. What’s your story? Have you faced a personal or business crisis that you’ve conquered or are currently battling?
Here are some anecdote for you to deal with crises while learning from some of the world’s leading CEOs about how they navigated through crises.
Clear Communication is Key
Successful crisis managers understand the importance of clear, transparent communication. During a crisis, uncertainty can breed fear and panic. Leaders who provide timely and honest information can help alleviate anxiety and build trust. Take the example of Jacinda Ardern, ex-Prime Minister of New Zealand, during the Christchurch mosque shootings in 2019. Her empathetic and clear communication reassured the nation and the world.
Decisiveness in the Face of Uncertainty
Crises often unfold rapidly, leaving little time for extensive analysis. Leaders like Elon Musk have shown the value of making decisive decisions, even when the path forward is uncertain. Musk’s quick response to manufacturing challenges at X, formally Twitter, Tesla and SpaceX demonstrates how a leader’s ability to make tough choices can save a company from disaster.
Empathy and Compassion
Effective crisis managers recognize the human element in every crisis. They demonstrate empathy and compassion toward those affected by the situation. Angela Merkel’s leadership during the European financial crisis emphasized the importance of working together and understanding the hardships faced by individuals and communities.
Adaptability and Innovation
Crisis managers must be adaptable and open to innovation. Jeff Bezos, during the early years of Amazon, faced numerous crises. His willingness to pivot the company’s strategy and embrace new opportunities is a testament to the value of adaptability. Today, Amazon is a global behemoth because of its ability to innovate during adversity.
Building a Strong Team
No leader can handle a crisis alone. Successful crisis managers build strong teams that can support them in making crucial decisions. During the 2008 financial crisis, Warren Buffett relied on his team of trusted advisors to navigate the complex world of finance, and his Berkshire Hathaway conglomerate emerged relatively unscathed.
Maintaining a Long-Term Perspective
Crisis managers often face immense pressure to deliver immediate results. However, it’s essential to balance short-term actions with long-term goals. Indra Nooyi’s leadership at PepsiCo during the 2008 recession focused on long-term sustainability, leading to the company’s continued growth and resilience.
Accountability and Transparency
Taking responsibility for mistakes and being transparent about them is crucial in crisis management. James Burke’s handling of the Tylenol poisoning crisis in 1982 is a textbook example of accountability and transparency. Johnson & Johnson, under his leadership, took swift action, recalled products, and revamped safety measures, setting a precedent for corporate responsibility.
Resilience and Perseverance
Crises are often protracted battles. Leaders like Nelson Mandela, who endured 27 years in prison and emerged as South Africa’s president, exemplify the power of resilience and perseverance in the face of adversity. His unwavering commitment to reconciliation and justice brought about a peaceful transition from apartheid.
Learning from Mistakes
Every crisis provides an opportunity for learning and growth. Successful crisis managers like Steve Jobs, who faced numerous setbacks at Apple, demonstrated the ability to learn from mistakes and come back stronger. Apple’s resurgence in the late 1990s and early 2000s is a testament to Jobs’ commitment to continuous improvement.
Maintaining Hope and Inspiring Others
Finally, crisis managers must be beacons of hope and inspiration. As Franklin D. Roosevelt said .”The only thing we have to fear is fear itself.” This remains a powerful reminder of the role leaders play in shaping perceptions during crises.