Key concepts leaders should keep in mind when business is struggling.

1. T H I E R R Y D E N T I C E . I N F O
H O W L E A D E R S S H O U L D
H A N D L E C O M P A N Y
D O W N T U R N
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2. Effectively dealing with challenges or struggles
when a business is undergoing a massive
economic or structural downturn is a incredibly
difficult task for leaders regardless of industry. To
create and maintain long-term success, be sure to
follow these steps to stabilize workflow internally,
while also producing an atmosphere that is
conducive to further business engagements.

4. Along with utilizing emotional intelligence
throughout these various processes, using a
concept titled “strategic empathy,” allows leaders
to project an interesting balance of both the
individual employee and the overarching
business goals. Emotional intelligence is also a
key component to remember as you maintain
business relationships with employees, upper
management officials and employees who report
directly to you.

5. Appreciate Honesty

6. Even if sometimes honesty in the workplace can be
frowned upon, as your company undergoes this
transition, be sure to value and highlight the importance
of truthful advice, thoughts, or ideas during meetings.
Although you must listen at every level, the best leaders
look carefully for that middle ground or middle
manager that deconstruct whatever is going on
internally is a great way to move forward and grow to
better times.

7. Anxiety

8. In addition to leaders being anxious about the
company’s future, keep in mind that employees of
all levels are aware of the business’ current state.
While there is a huge possibility you may be
experiencing a huge amount of anxiety, take a
deep breath and be the role model for your team.
This in turn will quell any nervousness, anxiety or
doubts your employees may be experiencing.

9. Fix Whatever is Broken

10. One mistake that many leaders fail to address
properly is fix or deal with the issue before it
spirals out of control. Utilizing decisiveness as a
salient tool is the best way to align your verbal
confirmations with intelligent, well-thought out
action.

11. Outside Perspectives

12. Receiving advice from other coworkers, employees or
leaders internally can be quite useful, but this
information can be somewhat partial. Keeping an eye
out for objective perspectives that can offer unbiased
insight in this business situation can create a level of
awareness to issues you may be overlooking. Peers,
friends from other companies who have undergone a
similar experience, and leaders in different industries
can offer sound insight that has the potential of guiding
your company through this difficult time.

13. Collective Effort

14. Another important step to take while your
business is struggling is to create at atmosphere
built around working towards a common goal.
Establishing a common, single-focused mindset
can not only appease everyone’s conscious a bit,
but also augment positivity across the board.
Challenges like these will test your strength,
perseverance and dedication as a leader in your
respective field.