CEO shares Top Four leadership strategies for recession-proofing businesses
Business owners need to guide with vision and focus on leadership, if they are to keep their businesses afloat during the recession, according to 10X CEO, Nic Clark.
Nic Clark, CEO of national business development franchise 10X, says that Australian business owners need to engage in proactive leadership in order to help their business survive the recession. According to Nic, focusing on leadership is more effective than cost-cutting measures such as staff cutting because downsizing often results in reduced workplace productivity.
“During a recession, when a business’s goals are limited to survival, active leadership is often neglected,” says Nic Clark, who supports hundreds of small-to-medium businesses throughout Australia and New Zealand through 10X. “Business owners need to get out of the recession mentality and start prioritising leadership as a strategy, because dynamic and effective leadership is proven to have more impact on a business’s ongoing success than staff cutting.”
In order to engage in effective leadership, Nic Clark encourages businesses to adopt the following Top 4 leadership strategies, based on a newly released report on business sustainability:
- Look for new ways to stimulate business growth during the recession by exploring new possibilities, ideas and approaches. See what opportunities are present.
- Lead with vision by pursuing a new, positive growth vision for the business and inspiring employees and stakeholders to commit to that vision.
- Start viewing employees as a business’s most valuable asset. Engage with staff and seek their ideas and suggestions in developing strategies, remembering that they are just as concerned with securing the future of the business as you are.
- Adopt a positive, inspiring and encouraging leadership attitude, as research shows that positive attitudes have a direct effect on high levels of performance at work.
As a trusted industry advisor providing support to businesses across Australia and New Zealand, Nic Clark warns business owners that now is the time to step up and take leadership initiative. “Leadership is what will differentiate your business from its competitors, and will allow you to survive this downturn,” says Nic Clark.