Running a business under ordinary circumstances is already a mentally taxing process. However, taking the helm during a time of crisis and uncertainty is on another level. The coronavirus pandemic caused usual playbook to be thrown away, with leaders around the globe having to think quickly on their feet. For business leaders to succeed whilst navigating these unchartered waters, it’s paramount to look at how past crises have shaped particular leadership strategies, and knowing how to utilize these tactics.
As a well-seasoned entrepreneur, Jay Bregman, CEO of insurtech startup Thimble, has had his fair share of managing a business during times of uncertainty - From navigating his first startup eCourier during the 2008 economic crisis to scaling Thimble during the current pandemic. I spoke with the entrepreneur to uncover his strategy for success when it comes to leading through a time of crisis.
His first lesson? Remain calm at all costs. Jay learnt this the hard way as a 28-year-old, working on scaling eCourier, a firm using handheld computers for courier companies to improve dispatch. "When the 2008 recession hit, the business essentially came to a standstill overnight. I remember feeling completely unprepared and shell-shocked."
"The ability to maintain a state of genuine relaxation in the face of danger allows you to see opportunities more clearly and develop solutions you may not have under a state of stress or anxiety." The entrepreneur says that the best way to become well-versed in keeping calm during stressful situations is to train for them. "In your future training, make sure to put examples of crisis in context to prepare for future obstacles."
Secondly, surround yourself with other supportive leaders. The Thimble CEO credits his teams "committed and dynamic mentality" as a key reason for successfully overcoming the challenges brought on by the pandemic. Choose colleagues who reflect the goals and values of your company, and who you can rely on in both the good and bad times. Jay prioritizes people who are "dynamic, multi-faceted, and most importantly are able to maintain steadfast focus during times of chaos and uncertainty".
Read More : pgslot