Executives & Business Owners: How to Be an Effective Leader During Turbulent Times
Presented by James Zahansky, AWMA®
Principal/Managing Partner, Chief Goal Strategist
During unsettling times, people look to the leaders in their lives more than ever. As a business owner or leader, you are in a position to lead the people on your team in staying calm, moving forward and maintaining progress. Whether you're facing a national crisis (like the pandemic or the economic effects of world events) or challenging times within your own company, there are a few ways to ensure you can lead your team in a calm, effective manner.
Tip #1: Make decisions with speed over precision.
This may be a surprising one to hear, but at times when things are changing quickly or news is traveling fast, being a decisive, quick-to-act leader can go a long way.
The strongest leaders will:
- Quickly process the information they have been given.
- Determine what matters the most for not only the overall organization but the team.
- Make their decisions with conviction.
When the future is uncertain and you aren’t sure where your business is headed or what exactly is happening in the world, it can be easy to get stuck in the moment and overwhelmed by anxiety. But as a strong leader, you can keep your team focused and moving forward towards your long-term goals.
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Tip #2: Embrace bold changes.
Tip #3: Be reliable in your delivery.
Strong leaders take personal responsibility and ownership during turbulent times - even if many of the situations are out of their control. During times of uncertainty, you should strive to:
- Stay alert and aligned with your team’s objectives by checking in on daily priorities.
- Set Key Performance Indicators and determine the most effective way to measure these metrics. These should be monitored and reported back regularly.
- Keep your own mental health and stamina in check, ensuring you are alert, level-headed and ready to tackle the challenges ahead.
Tip #4: Engage with your team.
- Connect with each team member individually and make sure everything is okay with them.
- Ensure separate teams are engaging and communicating effectively.
- Ask for help when needed.
- Balance your focus between your clients or customers and your team, as both need extra communication and support during this difficult time.
Tip #5: Enlist the Expertise You Need to Maintain a Strong Business (and Personal) Financial Strategy
For more tips and resources on how to Plan Well, Invest Well, Live Well™,
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Presented by James Zahansky, AWMA®. Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. 697 Pomfret Street, Pomfret Center, CT 06259, 860.928.2341. http://www.whzwealth.com These materials are general in nature and do not address your specific situation. For your specific investment needs, please discuss your individual circumstances with your financial advisor. Weiss, Hale & Zahansky Strategic Wealth Advisors does not provide tax or legal advice, and nothing in the accompanying pages should be construed as specific tax or legal advice.