Stronger than the Storm: Steps to Survive the Crisis
“Hope is a renewable option: if you run out of it at the end of the day, you get to start over in the morning.” – Barbara Kingsolver
These are unprecedented times. The impact on so many people, in all walks of life, across the world has perhaps only been matched by the speed with which it hit. While none of us can know where all this leads, we can take action on the things under our control. First and foremost, I hope that you and yours stay safe and healthy.
Through my career, I’ve served in a wide range of roles as an advisor, board member, consultant, chief financial officer, founder, marketing VP, sales manager, and chief strategy officer. I’ve worked with big brands like WD-40, developing companies, and startups. At the core, I help companies identify and navigate problems (or opportunities).
I believe we all have an obligation to help during this time. With that in mind, I want to offer my services – free of charge – to help any business get through the crisis. Please get in touch if you need help or share this email with anyone else who might be in need.
I want to offer my services – free of charge – to help any business get through the crisis.
In the meantime, I want to share tips to survive this crisis and to be ready when the world opens up again. No surprise, this is a time to have a plan and below are a few key steps. But first, I believe success rides on how we see this. Now more than ever, leaders who are positive, constructive, candid, collaborative, inclusive, and work toward mutual goals will have the biggest impact.
Here are the main steps in what should be a continuous loop…
Assess where you are in revenue, expenses, cash, customers, and employees.
Open up to your team. Help them understand the business situation and ask for their ideas on getting through this crisis.
Conserve cash. Prioritize creditors, landlords, vendors. Ask for help with temporarily delaying, reducing, or extending payments. Seek out government business assistance programs.
Continue to foster positive relationships: with customers, suppliers, partners, and employees. This situation is a time to show that we’re all in this together.
Look ahead. Assume it’s April 2021 and your company is doing well. Ask yourself, what happened? What went well? What can you do now that will help build toward that outcome?
Define your priorities and your plan. The plan should include scenarios as a framework to adapt as conditions change.
Communicate. Yes, this is covered in all the steps above but it’s so important.
We’re all in this together. Please contact me if I can be helpful to you or any other business in your network.
Mike Irwin is an advisor, blogger, mentor, operator, and strategist. Drawing from his past as a startup co-founder/President, executive officer of a $1+ billion market cap company (WD-40), public company CFO, VP Marketing, global chief strategy officer, head of sales, and board member, Mike helps companies grow sales, improve profitability, and scale up. He serves as an advisor, consultant, fractional or interim CEO/GM/MD, and on boards of directors. He currently serves on the boards of directors of Kitchens For Good and San Diego Sport Innovators. His past board involvement includes the Aztec Athletic Foundation, Aztec Shops, Canyon Crest Academy Foundation, Leukemia Society of San Diego, Voz Sports Inc., WD-40 BIKE, and WD-40 Company. Follow him at BottleRocketAdvisors.com, get in touch at mike@bottlerocketadvisors.com or connect on LinkedIn.