How to be a good leader during recession?

Leader is a person; who makes his own way and guide people for how to move on that way. The concept of leader is not new; we the human beings are actually tribal people and are in habit of living in tribes since beginning under the leadership of tribal chief, which has changed to colonies in modern era. We are in habit of working under the guidelines of someone to whom we can call leader.

Now the question arises who is a leader?

The leader is a person who knows more than us, who can guide us and can take us to our aim or goal with less efforts and cost.

Leading teams when Economies are not behaving as per expectation is a hard challenge but it is not impossible.

How to be a good leader in/during recession?

Before going deep into the leadership skills required in or during recession, let us first understand what is recession?

Recession is significant decline in economic activity or a period of temporary economic decline during which industrial activity are reduced. The key indicator to identify this is fall in GDP for two successive quarters or we can say recession is a negative economic growth for two consecutive quarters or business cycle contraction.

For being a good leader in/during recession:

  • Tweak the bud before it sprouts as a problem: Start boosting your team before recession’s news creep their neurons. Start sharing stories of achieving impossible  with them
  • Do not impose your strategy: Listen to your team before making strategies; because they are the one who are getting direct exposure to the market forces and market as well. Listen them carefully and then strategies.
  • Imbibe new skills in your team for how to work in the environment of recession like tell them to approach effective customer, effective prioritization, and Fragmenting long term goal into short term goal.
  • Ask your team to be more creative: Ask your team to observe what schemes and offers your competitors are adopting.
  • Focus on retail business instead of big tickets
  • Focus on short term goals.
  • Leader does not demand business rather create business; it will boost your team, mentor them how to create business.
  • Mentor your team about big question for everyone and that big question is “HOW”: In fact “HOW” is very big question for everyone. Mentor your team to address “How to address “HOW” by becoming the role model.

Let us know what you think about it.

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