How to weather the Coronavirus storm: 9 business leaders share their best advice – USA TODAY

Posted: May 6, 2020 at 7:47 pm


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The Oracles Published 2:54 p.m. ET May 5, 2020

Being an entrepreneur is challenging. Being an entrepreneur in the age of COVID-19 is even more challenging.(Photo: The Oracles)

The world is in a crisis unlike anything most of us have ever seen, and its easy to become overwhelmed with anxiety and uncertainty. We asked these leaders and Advisors in The Oracles for their best advice to weather the storm.

Heres what they said.

As a parent of two teenagers, my best advice is we need to stay calm for our kids and lead by example. Dont go out and interact with too many people.While its important to stay connected with friends and family, Im doing that via phone, text, and email.

Stay safe and well! Gretchen Carlson, founder of the Gift of Courage Fund, named one of Time magazines 100 Most Influential People in the World, New York Times bestselling author of Be Fierce, and inspiration for the movie Bombshell.

Gretchen Carlson, founder of the Gift of Courage Fund(Photo: The Oracles)

When things seem out of control, control what you can: your time, energy, attitude, and resources. Create discipline in your schedule and be intentional about when you wake up and go to sleep.

I go to bed at 9 p.m. and get up before the sun rises, so I get eight hours of sleep. When I wake up, I write down my goals and go to the gym. I dont watch TV for more than an hour, avoid the news as much as possible, and read for self-enhancement an hour each day. Grant Cardone, founder of Cardone Capital, a $2 billion real estate empire; follow Grant on Facebook, Instagram, and YouTube.

Grant Cardone, founder of Cardone Capital.(Photo: The Oracles)

As a Navy SEAL leader, I learned to thrive in a crisis with the PBTA Tool. First, Pause and listen. Eliminate distractions and take a moment to check in with your intuition. Next, Breathe deeply to calm down and take stock of what is really going on.

These first steps will clear your mind and help you focus and tap into the powerful intelligence of your gut and heart. Then you can begin to Think better, merging that gut and heart intelligence with rational thinking for optimal results keeping in mind that your first thought is likely a conditioned reaction. The final step is to Act boldly. Dont wait for the perfect plan. Choose the most viable target and move toward it. Trust yourself, your team, and our collective entrepreneurial spirit to solve these problems. Weve done it before, and well do it again. Mark Divine, retired U.S. Navy SEAL commander, NYT & WSJ bestselling author, and founder of Unbeatable Mind and SEALFIT; follow Unbeatable Mind on Facebook and YouTube

Mark Divine, retired U.S. Navy SEAL commander.(Photo: The Oracles)

When Isaac Newton had to stay home during the Great Plague of London in 1665, he made discoveries in calculus and began understanding gravity. While the world is forever changed, our ability to be creative, stay nimble, and uncover new ideas and opportunities will leave us stronger than ever. As horrible as this is, I believe good comes from every bad situation if we look for it. For example, while our industry has come to a standstill, retailers are creatively growing e-commerce sites and forging new collaborative relationships, which creates opportunities for the future. Ashley Alderson, founder and CEO of The Boutique Hub and Boutique.Style; cancer survivor, motivational speaker, and host of Boutique Chat; connect with Ashley on Instagram and LinkedIn.

Ashley Alderson, founder and CEO of The Boutique Hub(Photo: The Oracles)

Reflect on whats important to you and reconnect with friends and family. Now is an opportunity for creativity, innovation, and new ways of thinking; so dont limit your imagination. Expand your mind with online learning resources like The Great Courses and CuriosityStream. Look around your house; pick up that guitar or paintbrush you never had time for.

If youre struggling with negativity or fear, stop focusing on yourself. Reflect on how fortunate we are and find empathy for others. Use your skills and knowledge to be a force for good. Dont get mad at the news; focus on solving problems. Then fear will fall away, and youll see more clearly. Remember: the sun is still shining, and we rise by lifting others. Tom Albert, cybersecurity and artificial intelligence expert, and founder and CEO of MeasuredRisk, a leading enterprise risk management company; connect with Tom on LinkedIn

Tom Albert, founder and CEO of MeasuredRisk(Photo: The Oracles)

Recessions separate the wheat from the chaff in business. Its much harder to sell when money is scarce. Unfortunately, many businesses will be forced to close their doors due to social distancing. But some digital businesses that could have survived will also close for a different reason: their product was weak. When their customers become choosy, they will no longer choose them.

While its crucial to cut unnecessary expenses to bring in cash flow, dont cut your product development. Now more than ever, you must make it your No. 1 goal to be the best in your market. Sarah Chrisp, founder of Wholesale Ted, one of the largest (over 350,000 subscribers) online educational resources teaching entrepreneurs how to create, grow, and scale successful online stores; started her first online store at 16 years old; follow Sarah on YouTube

Sarah Chrisp, founder of Wholesale Ted(Photo: The Oracles)

Instead of panicking, control the things you can control. I had to travel, but Im careful and hope for the best. Prioritize your spending and conserve where you can. Lean on your mentors and talk to people who are smarter than you. If you have a problem, leverage your network. For example, my friends in the restaurant business didnt offer delivery; so we built them an app and launched a marketing campaign. Theres innovation happening everywhere. Craig Handley, co-founder of ListenTrust and author of Hired to Quit, Inspired to Stay; connect with Craig on LinkedIn

Craig Handley, co-founder of ListenTrust(Photo: The Oracles)

In the face of such uncertainty and anxiety, a leaders first job is to provide clarity from the front lines with steadiness and frequency even if its just sharing that you have no updates. No one has all the answers, but by tapping into your teams collective knowledge, you can determine the best move forward and create a sense of control.

This situation is changing how we live and work, which is challenging for everyone. Be compassionate and honest with your team. Let them pause to feel emotions and handle what they need to. Everything takes more effort during a crisis, so be mindful of your teams energy. Theyll need it when we return to the new business as usual. Michael OBrien, executive business coach, author of Shift: Creating Better Tomorrows, and founder of Peloton Coaching and Consulting and The Pace Line Leadership Academy; connect with Michael on Facebook and LinkedIn

Michael OBrien, executive business coach.(Photo: The Oracles)

9. Celebrate your wins.

As a leader, Im transparent about what Im thinking and how well continue moving forward. First, we level with our team about the situation and expectations, acknowledging that it will take time to get used to this. Were still adhering to basic policies and protocols and expect everyone to check in regularly, manage their time wisely, and deliver the same stellar work.

Were also making the best of this. Were celebrating our employees accomplishments and offering virtual team-building activities and spaces exclusively to talk about whats happening. Our #viralwins channel invites everyone to brainstorm ways to turn this situation into new opportunities. Luke Freiler, CEO and co-founder of Centercode, a Customer Validation solutions provider that helps hundreds of enterprises and high-growth tech companies bring dynamic and delightful products to market; connect with Luke on LinkedIn

Luke Freiler, CEO and co-founder of Centercode.(Photo: The Oracles)

Want to share your insights in a future article? Join The Oracles, a mastermind group of the worlds leading entrepreneurs who share their success strategies to help others grow their businesses and build better lives. Apply here.

For more free business insider advice, follow The Oracles on Facebook, Twitter, and LinkedIn.

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How to weather the Coronavirus storm: 9 business leaders share their best advice - USA TODAY

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May 6th, 2020 at 7:47 pm

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