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June 14, 2022

How Business Leaders Can Power Through Tough Times

In today’s difficult economic climate, many business leaders are finding it hard to keep their companies afloat – and, more immediately, keep themselves committed to weathering the storm in pursuit of long-term success.

To help these business leaders power through less-than-ideal circumstances and thrive in the long run, here’s a quick guide.

Stay Positive
When revenue is down, and bills are piling up, it can be extremely hard to stay positive – especially against the backdrop of a weak economy. But doing so is a must for business leaders, whose attitudes directly affect those of their employees and, in turn, the direction of their companies.

Think of challenges like the aforementioned bills not as insurmountable obstacles but as opportunities to shine. Regard each difficult situation as a chance to build skills and produce results, and be sure to echo this outlook to team members.

Create a To-Do List
As part of maintaining a positive mindset, including embracing challenging situations, make and regularly update a to-do list. While this might seem odd for a business leader – a habit best left to staff – the visualization of obstacles that have been overcome (and the difficulties ahead) is important.

Over time, the to-do list will foster a sense of perspective and create a foundation upon which one can pursue larger goals, which invariably begin with small steps in the right direction.

Continue Promoting the Business
In times of economic difficulty and widespread pessimism, it can be tempting (or required) to slice a business’s marketing budget – or even cease certain promotional efforts altogether. Budgetary realities vary, but making cuts doesn’t mean that a company cannot make an effort, though.

Consider bringing all hands on deck to approach promotion from a different perspective. Make clear to team members that no idea is too outside the box in the evolving market, and try to identify this evolving market’s impact on consumer attitudes.

From there, the “new normal” can guide promotional undertakings, and as an added bonus, it will be easier to connect with staff, thereby positioning the business at hand for further success once tough times blow over and great times resume.

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