Never Waste A Good Crisis
As a crisis and risk management specialist I have helped Governments, Corporations and Entrepreneurs manage crises that involved natural disasters, economics, reputation management and financial meltdowns. When a crisis or bad news hits us, we all tend to overreact and get into fire-fighter mode. While this is natural, we should all learn to slow down, let things calm down, and better assess the move’s impactful options. In the early stages of a crisis, what you don’t do is more important than what you do, as these early actions set in motion a chain of reactions that will impact the future of the crisis and its effective management. Most of the time for the worse if these actions are not planned well.
Some of these crises are the result of neglect, bad decisions, excessive risk taking, but often are the result of external factors that we have no control over. The bottom line is, don’t lose sleep on any of this, but rather get to work, and while others panic, seek the silver lining in these crises. These opportunities are in disguise that are difficult to see. Keep in mind that there will be windows of opportunities that become available. For instance, during a crisis, you may realize what are the indispensable employees you need for your company to survive and prosper. In other words, during a crisis you can cut expensive personnel and bring in younger and more cost-effective staff. This stuff…
