Survival Strategies for Business during the crisis — Part 3

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In the third chapter of my ongoing series on survival strategies for business during the crisis, it's time to focus on the 3rd fundamental, the first 2 being Strategy & Cash Flow.

“You are as good as your TEAM” is a famous saying, but it holds as true for a Business as it is for an individual.

Remember, much as you like to believe, not you but your people who run the Business. It is YOUR job to take care of your people.

The reality is people are your Biggest Asset.

Retaining, then, keeping them motivated, developing them, growing them as individuals is your job.

So, where does one start? It starts with hiring RIGHT.

Do not be in a rush to fill the vacancy. You people with the skills that fit your company values; and will fit in with the existing team. It’s not just about finding the right skills; it’s about finding the right FIT.

To create a winning team, we need A-players, but these A-players need to be complemented by steady and consistent ones. An essential element to consider while creating teams is, at times, it is consistency that helps win the race.

Once we have hired right then, we need to create an environment that encourages all to work cohesively towards a common goal.

A strong team is bonded and connected. Creating a work culture that creates bonds and connections among the team members is essential. A few tools to employ would be increased communication, planning skills, employee motivation, and employee collaboration.

Lastly, the team to deliver results needs to be empowered. Teach them and trust them to take the right decision.

I trust you found that interesting. In case you missed out on the earlier chapter of the series visit https://www.youtube.com/c/ethiqueadvisory

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