"Crisis Management - Stick to your Principles" Article by Steve Marsten

Many people at the helm of a business often face crises from time to time. The hard question is determining whether you’ve got a run-of-the-mill crisis or one that’s transformational for your company. This can often be made more difficult because every crisis is emotional.

Smart business owners know that to see your way through the fog you must work through a set of principles. These are usually those original principles you had when you first established your business.

It’s often like driving your car. You aim to go from point A to point B as quickly as you can. We need to focus on the road and not on the wall or the pot hole; on where you’re going rather than what you’re trying to avoid.

Every business will run into crisis from time to time. I find it useful to write the issues down as well as my thoughts – that way it helps sort through the facts from the emotions and using your key people to talk through an issue is often handy to clarify your own thinking. Often I will discuss issues with a colleague. We may not agree however it often fleshes out the real issues and assists in preparing an Action Plan to overcome the crisis at hand.

 

Often when talking to business owners and CEO’s, I ask them how they solved a particular problem. The Mediocre CEO’s tend to point to their brilliant strategic moves or the intuitive business sense or a variety of other self-congratulatory explanations. The great CEO’s tend to be remarkably consistent with their answers. They all say “I just didn’t give up!”

In business it’s natural that you will run into crises from time to time. The question is - in the way we react. Too quick to decide can often lead to a lack of consideration and a greater crisis to come. To slow and we risk damaging the business name and reputation.

Take time to assess the issues; determine the best strategy and implement it. The next step is to review and assess and tweak if necessary. Don’t give up until it’s sorted and you are driving smoothly again.

How have  you reacted when presented with a crisis in your business?

How do you solve the crisis?

Do you have strategies that you follow?

Are they effective?

At Sothertons we can assist you with crisis management strategies. Call us on (07) 49 721300.