Feb 07, 2020
Some of the most successful and established businesses know that, in the face of failure, the most important thing is to get ahead. Furthermore, they are aware that it is their mistakes, not successes, that leave the most important lessons. Of course, in theory, everything is easier said than done and taking charge of their failures; be it a disastrous year in sales, an unsuccessful launch of a new product, or a financial crisis can be a very bitter experience.
Certainly, if there is something that identifies a true leader, it is their ability to fail "well," and accept their failures for better and more positive results in the future. As the saying goes, you have to fall and get up fast. And above all, you have to learn and take advantage of the lessons to detect new areas of opportunity for business growth.
If, as a fully established company, you are on the brink of a disaster, it is important to consider how your company is going to handle that situation and how you are going to accompany your employees in this process. And these are some of the best tips to achieve it.
1. Face the situation, don't hide it
Being a leader implies carrying responsibility for the company's results and also with the weight of taking the signature where it was wanted and along the path that had been planned. Therefore, perhaps many experts believe that courage is an intrinsic characteristic that every business leader must have and cannot be learned in a business school. Only then will you be able to face all the difficulties and pressures that will undoubtedly generate positive results.
Additionally, being courageous also means honest communication. Keeping all the vital details concerning the company's progress, sales, and overall affairs away from your team is a bad start. This is probably the worst mistake you can make. That will only generate fear and uncertainty. No matter how serious the case is, it is always better to communicate and be realistic, but also to be confident in finding solutions.
2. Be responsible, not guilty
One of the main skills of a good leader is not to lose his or her temper in the face of a crisis and to have the strength to contain the staff. Avoid being distressed, impatient, or falling into unpleasant situations like yelling at your closest collaborators in front of other people.
Even though as a leader, you assume responsibility for a mistake in your company, it is important to understand what happened and who was involved. Otherwise, the problem will reappear and cause damage, since it is impossible for you to participate in each of the daily processes of the business operation.
3. Prove that failure is an opportunity
It is not enough to simply say it in a staff meeting or repeat it every week at the board meeting that the company is facing problems. Rather, it's best to quickly address any bad news by creating a special committee that will analyze what happened and what are the possible solutions.
As expected, an effective leader must have perfect knowledge of the economic environment in which he or she moves. And it is that only knowing more than anyone can you convey the confidence that every team should have with its manager. If necessary, you can seek the help of a mentor or external specialist, or talk to the press or a specialist to see how they can assist - if the situation warrants such a move.
4. Establish the steps to follow and communicate clearly
It is an irrefutable reality that you hire staff to actively collaborate with your company, they must be motivated beyond what the monthly payroll provides. To achieve this, there must be constant communication by all possible methods, such as emails, messages, telephone, in person, etc ...
What is even more important is that your team is up to date at all times of what actually happens in the company and of the decisions it will make in the future. Only then will the worker feel valued and loved and, therefore, part of the company.
Furthermore, do not leave anything to chance. Send an e-mail to all staff with any new instructions, modify the operation manuals and do everything necessary to prevent errors from becoming a daily practice. If you do not, you will be allowing the culture of "nothing happens", comfort, and failure to be installed in the company.
5. Leave no room for doubt
Doubting and hesitating when the time comes to make an important decision is contrary to the concept of a good leader. In order to be able to decide quickly and correctly, it is important that prior work is undertaken in which the different possibilities are analyzed and then the best for the future of the company is decided. The planning, therefore, is also a feature that a good leader must have to be able to get out of difficult situations that may arise.
Once the problem is solved, the areas of opportunity detected and the new processes defined, focus on what comes next. Being doubtful, anxious, or simply talking about the issues the company is facing for months on end or about what went wrong is not only counterproductive, it installs in your staff the idea that any error that was made is condemned, and that it is better not to get into trouble doing something different. If this happens, you can forget about creativity, innovation and the promotion of the best talent.
6. Be a good example
Good image is vital as a leader. Characteristics such as professionalism, ethics, the enthusiasm that is transmitted when talking and making decisions are key to good leadership. But if the façade that is offered on the outside is not positive, then your team members will simply avoid you. In that case, no matter the number of wise words that are transmitted to motivate the team, if the collaborators do not see you in a positive light, your credibility goes down the drain and so will your business objectives.
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