In a recent podcast, technology pioneer Michael Dell outlined the basic strategy for handling a crisis.
When you’re in a crisis, you’ve really got to do three things:
1. Make your team feel safe and protected, and ensure they have the resources to be productive.
2. Over-communicate with customers by frequently reaching out to them (they’ll remember how you treated them during the crisis).
3. Make sure your business stays financially strong so you’re able to navigate what’s ahead—this allows you to stay focused on the future.
As I’ve spoken to leaders over the last two months, many of you were intuitively following Dell’s advice and you’re much stronger than your competitors at this point in the process.
But don’t stop now. According to Michael Dell, there is one more step you need to take.
If you look back at previous crises, it’s always a time of incredible innovation.
What companies might have done in two or three years, they’re now doing in two or three months.
The focus of the world has moved to–how do we recover?
If you were leading through the crisis, you earned the right to participate in the recovery.
If you lead and innovate through the recovery, you’ll earn the right to dominate the future.