As New York City reopens, I am reflecting on what it takes to lead through social crisis and uncertainty. These thoughts come as I prepare to moderate a panel on this same topic at the National Association of Women Business Owners NYC Small Business Summit
To prepare, I interviewed the Summit’s panelist of women business owners to source their greatest lessons on navigating uncertainty as leaders. They represent a wide spectrum of industries and business sizes with experience ranging from 2 years to 33 years in business.
In this piece, four of those women share insights on how they managed their teams and businesses during the COVID-19 pandemic. They are:
Ronnette Riley – Architect
CEO, Ronnette Riley Architect
Maisha Walker – Digital Media Maven
President, Message Medium
Lara Kisielewska – Design Firm Owner
Founder, Optimum Design & Consulting
Sharon Richtor – Business Coach
Business and Executive Coach, Area Representative FocalPoint Coaching & Training
I’ve arranged their answers into a bite-sized list packed with applicable knowledge. Take a look:
Q1: What has the pandemic taught you about leading through uncertainty?
Ronnette Riley – Architect
– Just when you think you have a plan, the plan changes. Be flexible. Learn to juggle and shift priorities.
– Take care of yourself. Get sleep. Eat. Exercise. Carve out downtime. Keep your doctor’s appointments and health coverage proxy intact.
– Look for new opportunities directly related to the particular disruptor.
– Have an alternative revenue stream.
Maisha Walker – Digital Media Maven
– Have an alternative revenue stream.
– Have contingency plans.
– Build cash reserves, at least 3-6 months.
– Be decisive. Make a plan and take quick actions to shore up business.
– Build strong relationships with vendors and contractors.
Lara Kisielewska – Design Firm Owner
– Remote work is difficult when the work requires collaboration. It’s important to manage response times to clients.
– Early on in a crisis, strategize with financial professionals to figure out financing options.
Sharon Richtor – Business Coach
– Over-communication is best. The same message can be heard by different people at different times and in different ways.
– Focus first on what is important to you, the business owner.
– Forgive yourself on the days you operate at less than 100%.
– Give back. Help others.
– Join a supportive community that has a shared sense of purpose.
Q2: What actions have you taken to lead your business, customers and employees during the past 3 months?
Ronnette Riley – Architect
– Lead with heart not, my head. Showed empathy.
– Cut expenses quick and deep.
– Figure out how to meet deadlines and obligations virtually and remotely.
– Invest in creating a virtual workplace and master the technology that is used to create it.
– Balance the work/family/health issues of our staff with the needs of the client.
Maisha Walker – Digital Media Maven
– Do what was possible to make sure that business kept coming in the door.
– Lower costs.
– Make sure my team of employees and contractors were psychologically well and treated each other with grace.
Lara Kisielewska – Design Firm Owner
– Be the source of confidence. State my plan and stamp out uncertainty.
– Research and stay on top of all the available information needed to survive and rebuild.
Sharon Richtor – Business Coach
– Get my mind right. It takes knowledge, skill and attitude to be successful as a leader. Remember the Carnegie Triangle, skills and knowledge only make up 15% of success. The remaining 85% is your attitude!
– Meet my clients where they were and give them what they needed.
– Create different service offerings including a free offering, to create goodwill.
– Use this period to create new opportunities and discover new markets for growth.
The most encouraging takeaway from interviewing these women is that with each new crisis, they became more prepared and confident in leading their teams and businesses through uncertainty.
The pandemic has posed extraordinary challenges for business owners, especially women business owners. Still, at every turn, I am surprised and encouraged by our resilience.
Tricia Taitt is the CEO and Chief Financial Choreographer of FinCore. She holds an M.B.A from The Fuqua School of Business of Duke University, and a BS in Economics with a Finance concentration from The Wharton School at the University of Pennsylvania. For over 20 years, she’s been a finance professional. Half of the time was spent working on Wall Street while the other half was spent in the trenches side by side with small business owners. As a result of working with FinCore, clients have been able to take control of their numbers and feel more confident in their ability to make decisions, while increasing profits by 10% and building a cash stash to invest in growth.