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Jim Donald, one of the country’s leading experts on the Retail Sector, and a leader who has successfully led various world renowned retail companies has this to say about navigating through this tough economy:
The easy answer would be to go to There’s No Elevator To The Top and read pages 185-190..this is a perfect time for “my seven steps”…
However, in the same vein, I will summarize what the 7 steps can do.
We are in a very traumatic and turbulent time right now…much like a company is in when a new Chief Executive Officer is put in charge. So, why not take a page from the handbook of a new CEO who is taking over a company that is obviously in trouble. Let me explain.
Every CEO, on his/her first day, has a 100 day plan. This was done (at least in my case) to achieve the following objectives:
• To see as much of your company as you can
• Create a sense of urgency around the current set of opportunities or in this case the environment, and
• Be as visible to as many people as you can, communicating to all you can, the state of the company, your objectives, etc…
Never, in my history of retailing, have I seen the need to “act like you are brand new”. You have to dust off your 100 day plan, and communicate on a daily basis about what it is going to take to get through these tough times. After you complete your 100 day plan, you might have to do it again.
You can also read my speeches on these relevant topics at Leading Authorities. Two specific speeches, I believe are relevant to this economy
- Sailing Into The Wind and
- Leading from the Front Line
