Now that the world is upside down in the face of the social, economic, political and health situation that we are going through due to COVID-19, we are asking ourselves what can we, who lead a company, do? I dare say that nobody has an accurate formula. However, a simple answer like organizing ourselves can help us to cope with this great crisis.
From my very personal point of view I consider the following:
First of all, you have to stay calm. Our partners, employees, customers and suppliers are surely looking for someone who gives them confidence, who is objective in leading their team and handles, as best and efficiently as possible, the human and economic resources in the face of uncertainty.
Project Trust and Security. We must be able to propose that we will overcome this serious situation in the best way and without losses for the company and the shareholders, with the confidence that everything will fall on the leadership that we will manage in the coming months.
Teamwork. Of course, you won’t have all the answers. You need to rely on all possible resources and this includes the entire team and its capabilities. Ask for brainstorming, ground them in group work, and assign each person an activity that they can carry out widely and efficiently. This dynamic will provide confidence to collaborators.
Maintain a very close and clear communication to avoid rumors, including strategic communication. Decisions and priorities need to be communicated. It is essential to maintain a direct line with everyone involved in the company. Communicate. Communicate … Communicate …
Be human. Compassion, humility and humanity are extremely important at this time. The needs of the entire work team are different for each person. If they require working from home or being with family members, you should consider granting it. Humanity and compassion, without a doubt, are manifestations of leadership.
Financial resources. Some of the most important points in this contingency are financial stability and having a short, medium and long-term vision. For this, it is necessary to have excellent planning and projections that are as close to reality as possible, as well as avoiding unnecessary expenses and negotiating terms, discounts and financing with suppliers and customers. It is very important that your accounts receivable remain healthy and avoid the past due portfolio at all costs. This action will generate the necessary flow so that your expenses are covered in the best way.
Today we are exploring an unknown territory. Almost one hundred years after the last global financial crisis, which we have preceded, we are learning and reinventing ourselves again. The world has changed in many ways. This will undoubtedly happen and only those of us who are committed to change will succeed.
At Mijo! Brands, a creative digital marketing agency with headquarters in Mexico City, Guadalajara and Puerto Vallarta, we have a team of professionals in all disciplines that will help you find areas of opportunity in situations such as the one we’re living in today, to make sure your brand remains well positioned regardless of the circumstances.
Juan Manuel Saucedo is an administrator at Mijo! Brands and entrepreneur. Regiomontano of heart and Vallartense by choice.