This article is by Scott Goodson, Ali Demos, and Charles Dhanaraj
Image by Yoshinori Kuwahara/Getty Images
The coronavirus pandemic has brought the global economy to its knees in a matter of weeks. With stock markets tanking, revenues falling off a cliff, and sheer terror at the prospect of what’s around the corner, it’s easy for brands to slide into panic mode: frozen with inaction, or pursuing frantic measures of self-preservation.
At such times of crisis and adversity, employees, clients, and customers are looking to leaders for reassurance, inspiration, and courage to guide them through the storm. And it’s a tall order – an email with heartfelt thanks and wishes for good health is a start, but much more is needed.
So while this is far from the best of times, it is worth asking what this time is actually best for. When business as usual is impossible, it’s the perfect time to ask: What might business possible, business next, business better look like? What might business with purpose accomplish? The challenge for leaders now is to steer colleagues and associates from business panic to brand purpose. Indeed, (re)activating your purpose can provide stability to your people and forward momentum for your business. Here’s what that might look like.