There is a saying, “When the going gets tough, the tough get going!”
While I don’t necessarily believe this completely, it does help you think about your attitude during any type of difficulty you are facing.
This includes tough economic times for the business itself, challenging situations for you professionally, and even what is going on in your life personally that impacts you and how you show up at work.
Understanding what leadership competencies are needed to ensure you stay ahead and buoyant is the first step.
When you are faced with tough times you can’t simply hunker down and hope it gets better. You also can’t let your emotions get in the way of making good decisions. Others are looking to you for their survival, growth, and direction so you have to demonstrate that you are in control of yourself, even if you feel out of control with the situation.
What are the leadership competencies needed?
#1: Manage your emotions
I already mentioned this and it’s an important point to focus on.
If you are angry, frustrated, feeling lost, or in a place of resignation it comes across to others no matter how hard you try and hide it or pretend. Additionally, the actions we take through negative emotions are different than the actions we take through positive emotions (excitement, possibility), and, thus, the outcomes will be different.
#2: Be authentic and communicative
When there are challenges financially and it’s obvious, don’t try and hide it; share what’s going on. You don’t have to give every detail, but pretending doesn’t make it better.
Letting others know your plans, what’s happened and why (if appropriate), and what they can expect keeps them connected and reduces anxiety.
#3: Create a plan of action
It’s important to create a plan of action not just so you can share it with others where appropriate, but the act of planning and seeing options, and making choices have a calming effect on most of us.
The plan can change as you see progress or determine that there are circumstances that require it to change, but creating a plan of action is a leadership competency to develop.
#4: Remember it’s not a sprint
Whatever the situation you are facing likely didn’t happen suddenly, it was a series of little things you overlooked or ignored completely or compounded to create the current difficulty.
Turning it around won’t happen overnight either.
Besides the competencies listed above, what else can you do to manage the difficulty?
Be a pathbreaker.
Following the crowd will not help you at this time. Many business leaders panic and go into hibernation mode. You should focus on innovation and taking calculated risks.
Innovative thinking does not mean spending more, but spending wisely.
Retain and tempt the best brains/hands in the industry.
Recessions may be terrible for most; but not for you. Challenging times do not mean you have to do it alone. Great leaders see opportunity in every difficulty. Here, you can seize the opportunity to retain the best talent and draw others into your company. And, ask your team and people in the industry for help and guidance.
Two heads are better than one and others often see things you can’t.
Connect with and reassure your customers.
Your customers might be confused and worried if they get wind of the difficulty. Let them know that you are as strong as ever and that you are counting on them as they count on you. Do not stop communicating with your customer through any and all possible means you have.
Strong leaders know their priorities — and connection with your customers should be at the top of your priority list.
Develop a unique approach.
This may not be the right time for launching new products or services, but this is the best time for developing unique and innovative approaches in the delivery and promotion of your products/services.
One leadership competency is a high and innate ability to adapt.
Just like evolution helps the survival of life forms, adaptation helps businesses survive and even grow in touch with economic conditions.
Make coalitions / build strategic partnerships.
It is true that there is strength in numbers. Know when to build your strength with new partnerships or coalitions. Seek out businesses that complement yours and work out arrangements that will ensure growth for both of you.
Being a great leader is never easy.
Being a great leader in difficult and challenging times requires leadership competencies you might not have or aren’t using often. Focus on today and tomorrow instead of yesterday and the past; you can’t change it, so take whatever lessons are available to you and apply them to your next steps and actions.
You can pretty much count on problems, issues, and adverse situations arising at some time or another… Your response to difficult situations will separate you from others and has a significant bearing on the future.
Are You the Leader
You Want to Be?
Are you the style of leader you think you are? Take the leadership quiz and find out your leadership style.
You’ll learn what impact your particular style has on performance, productivity and satisfaction of the team.
