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Michael Saltzstein Shares 4 Crisis Leadership Tactics Every Manager You Should Know

 Michael Saltzstein observes that the recent pandemic emphasized the importance of business continuity strategies. One hundred thousand brick-and-mortar businesses shut down in 2020. However, startups in relevant sectors like MaaS, food delivery, medicine, and eCommerce made billions in revenue in the past years. Adapting to a crisis could spell the difference between bankruptcy and prosperity.

 

Despite the importance of business continuity, entrepreneurs rarely focus on it. They would rather allocate their resources to money-making projects like business expansion and mass production. Also, planning for failure can come off as eerie.

 

Does your company also have trouble planning for crises? To help you with your business continuity plan, Michael Saltzstein shares some crucial, straightforward crisis leadership tactics.

Communicate with the Team

Keep your team in the loop. Be transparent with the company’s current situation and update them beforehand if you plan on implementing any major changes.

Prioritize Your Employees

We understand that you want to minimize your company’s losses, but please don’t ever throw your team under the bus for money. Your employees are the heart and soul of your company.

Create Multiple Exit Strategies

You might notice that it’s virtually impossible to address all the points in your risk register. Fortunately, you don’t have to commit yourself to just one approach. Instead, create multiple exit strategies so that your executives and managers can vote on the most effective way to cut losses.

Study Your Tactics

You can only lead your team confidently during turbulent times if you have full faith in your approach. Leaders don’t have the luxury of hesitating during crises. Otherwise, who will your employees turn to for reassurance and certainty?

Managing Business Continuity Strategies

It’s important to develop a feasible, data-driven business continuity strategy right from the get-go. However, don’t blindly commit to it. The risks that threaten your company will change over time, and you’ll only overcome them if you adapt.

 

Revisit your strategies now and then. Michael Saltzstein advises business leaders to discuss their crisis management tactics at least two to four times per year. Ensure that no crisis will catch you and your team by surprise.

 
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