By Crystal Faulkner
Our world is at war with an invisible enemy that has brought the world economy to its knees and has left people fearful and angry at the impact it has had on our society. As a Professional EOS Implementer and CPA, I see first-hand how business leaders are reacting and responding to this situation.
We must face reality and understand that we are dealing with a crisis that is disrupting our lives, shaking the confidence of families, employees and communities, and will imperil many of our businesses. It is this moment in time that will define the future of your company. My message to my EOS clients and all business leaders is you must redirect your fearful energy to proactive and positive energy. If you are a business owner or member of a company’s leadership team, it is your responsibility to take charge of the situation in your company and move it forward even in times of crisis.
Most organizations don’t know how to prepare for an economic downturn and therefore become paralyzed. In the last recession, businesses that met their demise were often the ones who delayed critical actions. They did not assess the situation, develop a strategy or focus on the most important survival priorities. In short, denial is not an option.
Below is a prescription for surviving the coronavirus recession. Business leaders can use this process to lead their organizations in survival mode and then thrive after we win the war against the coronavirus.