You can choose new projects that are conditionally or not related to your primary expertise. Otherwise, it is useless to continue its development. Each direction of your business and investments must raise money. Allocating capital to various industries and sectors is a good way to protect yourself from heavy losses. How flexible your company's policies can become and how quickly you can react to what is happening depends on your ability to get out of the crisis with minor losses.ĭuring a crisis, diversification can work well. The company likely cannot afford to stay on the same course during a crisis. You just need to clarify what you are looking for and what kind of decisions you expect. The decision-making process can become easier and faster if you involve your employees. I've found it's better to concentrate on small decisions, which can contribute to fully meeting your current needs.

And during a crisis, decisions are made under uncertainty about what might happen, resulting in challenges to calculate the risk objectively. Making the right decisions is difficult, even in the best times. Be flexible and make quick, rapid-fire decisions. It's crucial to hold regular meetings of employees with the top management, where they discuss current affairs and develop mutual strategies to overcome the crisis.Ĥ. Organize all the conditions for stable and comfortable remote work. One of your tasks is to allow employees to acquire new skills and abilities. Support employees and provide psychological assistance. Make sure everyone is in the same boat and understands that the only way to survive is by rowing together in the same direction. This is an excellent opportunity to unite your employees and strengthen team spirit. As Mark Sanborn is often credited with saying, 'In teamwork, silence isn't golden it's deadly.' So, explain the situation, outline the possible steps and build a healthy work environment based on mutual trust. Don't ignore or distance yourself from employees.

Trying to stay afloat synonym