Unknowns and uncertainty can have a direct negative impact on culture. Emotions stir internally, therefore a store manager has to reset the thermostat to a “we will thrive” setting. How you react matters when coming out of a pandemic, crisis, or any other situation in which your employees may be confused and concerned. Clear communication, being flexible, and taking a realistic look at your operations are all key considerations for how you can retain or increase your sales (not to mention your people, too).
Another key element to coming out of the crisis is looking inward at what you have learned as an owner or leader. A great example coming out of COVID-19 is the rapid demand and growth for delivery service and with it identifying opportunities for your business to innovate to accommodate the customer. Finding ways to better accommodate the customer builds stronger brand loyalty, and might even save you operational costs down the road. Listen in for more ways to retain or increase your sales.
Thank you to Jae Pi a Director with Citrin Cooperman, Michael Einbinder, a Partner with Einbinder & Dunn, and our very own succession planner, Jean Venant, for sharing your expert insight.
As you listen to this episode, you will walk away with key takeaways and will realize you will want more. Click to visit the “Burning Question” topic page to easily access the additional episodes in the series.
Do you have a burning question you want to discuss with an expert? Submit your question via the Ask An Expert form!
Tune into more burning questions by subscribing to our blog on the right side of the page. You will receive updates when new episodes are live that will address:
- Adjusting to the new normal for industries that rely on customer interactions
- Messaging for business owners/leaders to share with their people in times of crisis
- Navigating the path when some family want to work in the business & others pursue other careers
- Addressing uncomfortable subjects that are more difficult during the crisis as opposed to normal times
- Strategies for helping a son and daughter to learn how to work together
- Navigating business transitions when the next-gen is not interested in the family business
- Proactive strategies to position the business for the “unknown”
- Communication tactics ease employee’s anxiety and worry
- Managing emotions of others and self in times of stress
- Strategies to increase sales to cover costs and create more points of revenue
Business Performance
Business Performance
Business value is tied to performance. Top talent, strategic vendors, and creditors will be influenced by the organization’s competitive advantage in the marketplace. Traditionally, transitions generally bring with it a drop in profits. It is crucial that your business is operating at peak performance in order to fulfill cash flow needs and expectations during times of transition.
Click the following links for more drill-down resources on Business Performance.
Sign up for our monthly e-newsletter to stay informed on how to overcome related succession planning issues.
We can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.
