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Strategy Survival lessons of the pandemic for business owners

As Australia slowly emerges from the grip of COVID-19, SUE BARRETT reflects on the unavoidable and unexpected challenges of this year – and what business owners can learn about resilience, leadership, and change.

Four months into the COVID-19 pandemic, I wrote down the lessons that I was learning about myself as a leader, and my business. At the time, I described the crisis as a test of character for me and other people.

It had put everything I cared for, valued, and taken for granted on notice.

Not that I wasn’t aware of or didn’t pay attention to these things before – I am a very attentive and purposeful person – however, the pandemic put everything on the table for a thorough examination.

As the COVID-19 shutdown hit, the very first thing I did was gather my team together and I said: “Our number one goal is to stay together and stay in business. We’ve worked too hard to let all of our good work go to waste.

“We will manage our costs and reduce where we can and then we will prepare for the future.”

Then, I addressed the reality of the economic situation for our clients.

“While everyone is going to need some time to get their heads around what is happening to their businesses, their customers and supply chains, we are going to get ready a range of sales resources and support for them so they can get selling again and can keep their businesses going and people in jobs,” I said.

“This is what we are great at and this is what we are going to help them address, when they are ready.”

“We are going to keep selling, marketing and engaging with our clients and others to help them navigate their way through this storm. By having their backs, we will have our own.”

The interesting thing is that the things I spoke about had been the focus of the business all along.

Knowing our purpose made it easier to channel our efforts towards what was important. It also united us on our journey through 2020’s many challenges.

And as it was for so many people, lessons kept revealing themselves to me.

The second part of the year presented more and different obstacles, like the second, stricter lockdown in Melbourne – where our business is based – some governments around the world seemingly ignoring the virus, elections that kept the world on tenterhooks, and at a personal level, deciding to leave our physical office of 22 years to start anew.

There is nothing like a major crisis to get us to rethink what is essential, what is desirable, what is just nice to have, and what is past its use-by date.

Reflecting on the first wave

As the saying goes, we are all in the same storm, but we are not all in the same boat.

What that means is if we pay attention, we can learn a lot by listening to each other: our clients, our families, and others with whom we engage.

From doing so, it’s clear that some – personally and professionally – have sailed through this year virtually unscathed while others are struggling to make ends meet and stay in business.

It has been interesting to see those who carry themselves with dignity and grace even during the toughest situations, and those who do not. Which brings me to a quote that caught my attention during the early stages of the COVID-19 crisis: “A crisis does not develop character, it reveals character.”

The pandemic is affecting people, businesses, communities and governments in a myriad of ways, but it’s also revealing characters.

So, what is character? It is the aggregate of features and traits that form the individual nature of a person or thing. It includes our moral or ethical qualities as individuals, teams, businesses and societies.

Some people are magnificent at leading the way with clarity and purpose, while others are out of control and create mayhem and panic. And others still are somewhere in between.

I know you are already seeing certain people flash before your eyes as you read this!

Our character – expressed through behaviour and actions – does impact others for better or for worse, especially in times like this.

As a business owner and manager, ask yourself these four questions:

  • How do I handle myself under pressure?
  • How do I want to handle myself under pressure?
  • How do I want to present myself and lead in a crisis and beyond?
  • How do I want to be perceived and remembered by others?

As Maya Angelou once said: “People will forget what you said, people will forget what you did, but people will never forget how you made them feel.”

Through the second wave – and beyond

While the first few months of the pandemic were a lesson in character and preparedness, the next months crystallised further insights.

First was that relocating can be liberating, both physically and emotionally.

I am a creature of habit when it comes to work routines and had run my business from a commercial office space for more than two decades.

I thought working from home would leave me feeling sad or mournful – however, the exact opposite occurred.

Instead, I felt free. I also got the chance to update my workspace and habits which improved my – and my team’s – productivity.

They say if you want to change old habits, the best time to do it is when you are changing your physical location, such as moving to a new house or business premises.

This year has been an opportunity to change for the better, and to seek out new ways of working that make sense for the future of my business.

The next lesson was about the importance of staying the course; relationships, commitment, and teamwork can save the day – or the year!

My team is very strong and committed, with a clear focus and purpose that allow us to navigate every situation with a sense of control.

There is nothing like a major crisis to get us to rethink what is essential, what is desirable, what is just nice to have, and what is past its use- by date.

I promised my team at the beginning of the pandemic that our number-one job was to stay together and stay in business, and we did just that.

Simply put, we did exactly what we advised other businesses to do throughout COVID-19 – keep communication channels open, develop new relationships and nurture existing ones, adapt and develop new offers, and identify new market segments to ensure that you have a full pipeline of opportunity.

Knowing how to strategise and sell are vital business and life skills we can all benefit from, now and in the long term.

Finally, I learnt that mental health is vital to our overall well-being. Taking time to check in with employees, customers and suppliers does matter.

Sometimes, the best thing we can do is listen and respect another person’s feelings – even if they are all over the place and somewhat negative.

However, we can do this in such a way that we do not get swept up in their emotions. Instead, as leaders, we can be a neutral sounding board of calm and reason, with a ‘Can do-What if’ approach that provides hope and purposeful optimism.

Equally, it is important for business leaders and owners make time and space to unload feelings and emotions in a healthy way, so that they do not disrupt their employees, customers, business partners and family.

The end of an era

I am a 2020 Year 12 parent. Like many other parents, we have had our fair share of extra challenges and work this year participating in the schooling of our children.

This year also signifies the end of the schooling years as parents for my husband and I – 19 years of drop- offs and pick-ups, parent-teacher interviews, and so on.

As my son graduated, I found myself reflecting on these 19 years as part of the school community; all the relationships, projects, and community activities we participated in to help it flourish.

For many people, 2020 represents the end of an era for their business – whether it be relocating a store, shifting to e-commerce, or retiring and handing on to a new generation.

But if this year has taught us anything, it is that this process of change is as wonderful as it is sad; after all, the end of one era is just the beginning of the next one.

 

 

 

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ABOUT THE AUTHOR
Peter Bakker
Bakker Diamonds
World Shiner
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