Important Tips to Consider for Entrepreneurs in Crisis

A strong management team is needed, especially in turbulent times. Managers who know how to navigate the storm with confidence while making calm and clear decisions.

I have been through some pretty big storms in my own life (insolvency of a family business with over 1,000 employees and personal liabilities in the millions).

The following advice has helped me a lot and I am constantly trying to adhere to these standards.

Aligned with the mantra "If you're in a hurry, go slowly" (Lothar M. Seiwert), it's crucial to maintain composure and focus during crisis situations.

Watch this video to discover the 3 things you should never compromise in times of crisis.

The video to the blog:

Reduce distractions

First of all, it's important what you don't do and what you don't feed your brain with. This creates a lot of space!

Even in normal times, the laundry can offer an incredible number of distractions and you are also overwhelmed from outside.

Therefore:

While some aspects may seem exaggerated, the situation and associated responsibilities are far from ordinary.

You might even offend your friends if you only read the WhatsApp message on your cell phone four days later. But you can't please everyone. In our case, my wife and my assistant have taken it upon themselves to make sure that nothing gets out of hand in the family or in the company.

Take care of yourself!

With every entrepreneur crisis, my sister always reminds me that the things most important during such a time is health, the relationships that I have built and having no legal or criminal problems to deal with.

With this perspective in mind:

It would be best to discuss these measures with your partner and/or assistant and then act on them. The boss’ health is of the utmost importance for everyone involved.

Clear Priorities That Should Be Written Down and Enforced

Max. 7 tasks, better 3-5 on which you can really concentrate and also complete in the short term.

... and then demand the same from employees.

These are trivial things, but they are essential for a high level of effectiveness! Written form and good communication with the team are particularly important here. For example, a daily ten-minute meeting pointing out issues and how to eradicate and/or improve them.

MUCH SUCCESS!