SME Leadership Lessons from Lockdown (Part 1)
Further to my last update, more and more companies are using the framework that I described last week.
I continue to work with 20+ SME business owners so thought it would be worth sharing a few of the practical insights/tips coming from the cohorts that I’ve run this week. It's not rocket science but they may prove useful to other business owners.
- Some of your customers/suppliers that ‘closed the shutters’ are reopening after seeing that some demand is still there. So, don’t assume they are still closed.
- HUGE benefits can result from (over) communicating with customers. (Several cases where this has resulted in customers switching loyalties away from ‘silent’ competitors!)
- Be careful you don’t overstretch into new areas and make promises that you can’t keep. Work with your senior team to reflect on your core competence/DNA and go from there.
- Are you reliant on one person for a key process? If so, do some cross-training! Work on the assumption that they may be incapacitated at some critical point in the future. (This could be due to the virus but could simply be that their internet is down when you need them most.)
- Communicate regularly with your furloughed workers. They're still your employees and may become disenfranchised if they don’t feel they’re still a valued part of the team.
- Your old ways of working weren’t built for this situation. Introduce a new routine with your senior team, one that supports a balanced response and keeps everyone on the same page, so that you can respond quickly to changing circumstances.
If you want to download the framework then I've added it again. Just click on the image below and the PowerPoint will download immediately.