Council Post: Leading Through Crisis: Five Things CEOs Can Learn To Do Better

Don Daszkowski is the Founder of IFPG. IFPG trains individuals to become Certified Franchise Consultants and earn money selling franchises.  

No seminar or graduate business class could have enlightened me more than the real-world experience of managing my business under the threat of Covid-19. The pandemic has taught me significant lessons and has sharpened my skills as a leader.

As the CEO of a franchise broker network, my business has a large-scale impact. We help people find success through franchise ownership. We work with hundreds of franchisors who collectively have thousands of franchisees invested in their brands. As a group, those franchise owners employ hundreds of thousands of people. Covid-19 threatened all them in some way.

When the pandemic first hit, I thought about all the people my business impacted and the uncertainty they faced. I thought about my team and how they would be affected. I decided that if there was any time to make a difference, it was then.

Looking back, I can’t think of a scarier or more innovative time than the first few months of the stay-at-home orders. I learned so much from that experience that will shape me and my business for years to come. Here are some things I learned to do better and more frequently that other CEOs can strive for, too:

1. Show gratitude. Since the onset of the pandemic, feeling grateful and showing gratitude has become a daily practice for me. Expressing gratitude changes my overall mood and perspective, and I’m not the only one. An article from Harvard Medical School said, “With gratitude, people acknowledge the goodness in their lives.”

As a leader, remember to say thank you to the people who work for you and with you. Appreciate their hard work. You might even find they’re more motivated as a result. The pandemic has taught me that an attitude of gratitude goes a long way in both life and in business.

2. Innovate and pivot. “Pivot” has become the big catchphrase of 2020 — and for good reason. Business as usual has turned into business as unusual. Most businesses, no matter the type, had to alter the way they delivered products and services. For the first time, many offered curbside pickups and deliveries. Others added new verticals or presented existing ones in a different way.

My business, a company that connects people, was no exception. Our in-person events came to a screeching halt. We postponed our annual conference and held a virtual one. Our in-person conferences have always been successful, so we never considered holding a remote version. It was unchartered territory for my team, but we pivoted and made it happen. The virtual event turned out to be a huge success, and many of our members have asked us to offer these events in addition to the face-to-face ones moving forward.

The lesson to always keep in mind is that even though necessity might prompt you to pivot, you should always look for more ways to innovate and improve your business.

3. Bring more value. Think about how the pandemic is creating new ways to help your clients when they need it most. Ask yourself: Is there anything your company can do to help your consumers through this challenging time?

For example, my company seized an opportunity to offer our clients platforms to share their experiences and strategies for getting through these times. Not only did it connect our community, but also it was a gesture that was remembered for the long term.

Takes steps to bring more value to your clients every day.

4. Collaborate. Sharing best practices — even with friendly competitors — can give you ideas and insights into how to improve your business. For example, throughout the pandemic, I attended webinars, mastermind groups and other events where I engaged with competitors more than I ever have before. Rather than animosity in these groups, there was a feeling of “we are in this together.” Sharing strategies on conducting business through uncertain times benefits everyone.

In fact, I recently learned that there’s a word for this practice, called “coopetition.” Collaborating with competitors might seem like a bad idea, but one study found the benefits of competition can outweigh the disadvantages. For example, the study found that this kind of collaborative competition in finance has more than a 50% change of reducing costs when coopetition lasts between three and five years.

With this in mind, leaders should consider making coopetition a part of their business plans.

5. Think positively. Mindset is everything in entrepreneurship. In my experience, entrepreneurs are risk-takers and generally look at things with a glass-half-full approach. In my business, I am surrounded by franchisors who took risks to build franchise systems and have a responsibility to support their franchisees. Through the crisis, I watched them rise to the occasion to keep optimism in their systems.

Their actions have inspired me to be an encouraging force every day. As a leader, ensure you’re spreading positivity throughout your company, team and family every day, as those founders have been. By sharing daily updates and offering support and encouragement, your systems can become stronger.

Throughout history, innovation has come from times of crisis. I believe this pandemic is no exception. I’ve seen many silver linings throughout our industry and in my business. As Winston Churchill famously said, “The pessimist sees the difficulty in every opportunity. The optimist sees the opportunity in every difficulty.”

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?