I have recently been asked what are the qualities of resilient business leader?
It made me ponder which qualities empowered successful business owners or CEOs during this Covid-19 crisis, and how did they lead their teams to survive and thrive?
In doing my research I came across 5 specific qualities that a business leader needs in order to minimizes the impact of the pandemic. Which in turn enabled businesses to survive and emerge stronger on the other side.
One thing is for sure: a pandemic brings unusual challenges, uncertainty and risks. Business owners and leaders are right to be concerned.
There is still a high level of uncertainty as to how businesses will be affected over time and what teams need to do.
You may ask, what are the fundamental qualities of resilient leadership that distinguishes successful business owners and leaders from the rest. Whilst they guide their businesses through the current crisis?
I propose and want to highlight the following 5 leadership characteristics which I feel are important as your business coach.
These qualities or characteristics will ensure your business survives and grows:
A Business Leader needs Sincere Empathy
In times of crisis the forgetful thing would be to not take care of human needs.
A resilient business leader is genuinely sincere and empathetic. They picture themselves in the shoes of their employees, customers, and all stakeholders.
Simultaneously business owners have to take a firm position to protect the bleeding of the businesses cash flow.
Leading from both the heart and the head is a good start.
Keep Your Mission First and People Always
This is the conundrum.
There is a fine balance between the two: the people and the mission.
Resilient leaders are skilled at triage – they can assign various degrees of urgency to challenges and decide the order of focus.
A great business leader can stabilize their business to face the pandemic crises and identify opportunities amid all the constraints.
Act and Action
Resilient business owners are quick to act and take decisive action.
They have the courage to use imperfect information whilst knowing that expediency is crucial.
Great leaders have a high level of learning agility – they possess the ability to know what to do when you don’t know what to do.
Own the Narrative
The quality and effectiveness of communication across the business impacts the success of the business strategy directly.
Resilient leaders own the narrative at the outset. They are transparent about current realities—including what they don’t know.
Simultaneously, they create this compelling picture of the future that inspires the team to persevere.
A Business Leader should Embrace the Long View
Resilient leaders stay focused on the horizon, they anticipate which new business models are likely to emerge and that will define tomorrow success.
In Brian Tracey’s words “People who take a long view … always seem to make much better decisions about their time and activities than people who give very little thought to the future.”
There are typically 3 phases of response to any crisis:
- Survival: it’s about survival first. How do we deal with the situation at hand, now?
- Rebuild: this is the recovery phase. It’s about applied learning where the business emerges much stronger.
- Reignite: what the company prepares for to help shape the “new normal.”
As business leader you have the substantial and added responsibility to consider all three phases congruently and allocate limited company resources accordingly.
Within the framework of these broad life and death decisions, resilient business owners and leaders take the necessary tactical steps to elevate their leadership qualities for success.
With the right leadership approach, this crisis will become an opportunity to move forward and ensure positive outcomes.
I would love to hear your thoughts on your leadership within your business as well as its impact on you, your team, and your business.