One of the most difficult aspects of leadership in times of uncertainty is to not only adjust to new realities yourself, but to get your entire organization to as well.
Uncertainty comes about because of change. And the world is going through tremendous change right now. What happens next is anyone’s guess, but it is widely accepted that we will not be going back to business as we knew it. Capital markets are clamping shut. Regulations on industries and companies are becoming stricter. And companies that don’t adjust, won’t survive. That’s reality.
But it is also an opportunity. Companies and their CEOs need to be realistic about the changes they need to make today to play in the business world of tomorrow. No matter how hard you wish for things to fall into place, that wish will not come true. The only possibility for success is for you to take control of all that you can control. If access to capital was part of your short-term strategy, what changes can you make to be less dependent on external funding? What product changes will you need to make to adhere to future, stricter environmental regulations?
Being realistic now will allow you to be proactive, which in turn will make it that much easier to emerge stronger from the current turbulence and ready to face the future…successfully.