Latest / Daily Influence / 642. Leading in times of Uncertainty: Applying SMART Tactics for resiliance

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642. Leading in times of Uncertainty: Applying SMART Tactics for resiliance · Daily Influence

• 0:10
  [SPEAKER_01]: Welcome to Daily Influence, your daily dose of positive influence.
• 0:14
  [SPEAKER_01]: I'm Brian Smith founder of IA Business Advisors and co-author of the Iain team series.
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  [SPEAKER_01]: Each day we share stories and insights to help you find be and build your influence in a positive and responsible way.
• 0:27
  [SPEAKER_00]: And I'm Greg Clino, partner at IE Business Advisors, and co-host of Daily Influence.
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• 0:48
  [SPEAKER_01]: Hey everybody, Brian Smith here with the I empty series and your daily influencing and today I'm going to be tackling what we can do as leaders to lead in times of uncertainty and at I we are hearing a tremendous amount of noise coming from our clients and coming from our prospects about what can we do about this uncertainty.
• 1:14
  [SPEAKER_01]: tariffs, what's going on in politics, what's going on with the economy, the instability that appears to be out there.
• 1:21
  [SPEAKER_01]: How is it going to influence us?
• 1:23
  [SPEAKER_01]: What can we do to prepare?
• 1:24
  [SPEAKER_01]: And as everybody is used to hearing us talk, knows we lean right into smart.
• 1:32
  [SPEAKER_01]: So our answer is to be resilient
• 1:40
  [SPEAKER_01]: And oftentimes, contextually, actually all the time, contextually, that means something different to each of our clients.
• 1:47
  [SPEAKER_01]: And thus, of course, they're in the same business.
• 1:50
  [SPEAKER_01]: So the thing that will do the most for your organization, for your teams and for you for that matter is be specific and be timely.
• 2:05
  [SPEAKER_01]: specific and timely.
• 2:07
  [SPEAKER_01]: You need to offer clarity about what's going on, and if clarity means that you're uncertain, but you're working on it.
• 2:15
  [SPEAKER_01]: Be transparent and honest with your team.
• 2:18
  [SPEAKER_01]: No, it won't solve the overarching issue that we don't have an answer for them, but at least they know that you're working on it, and it is top of mind in that you have a plan.
• 2:28
  [SPEAKER_01]: for it.
• 2:29
  [SPEAKER_01]: I've done a five year self precise goals and objectives that you can lean into.
• 2:33
  [SPEAKER_01]: Give yourself a timeline to get back to them and then keep them updated.
• 2:39
  [SPEAKER_01]: If you don't answer a question and you leave a gap of time that allows them to develop and fester more uncertainty, which is more anxiety and creates more potential issues.
• 2:53
  [SPEAKER_01]: And if all you need to do is to keep communicating and, by the way, stay present, safe, stay specific and keep working on the issues that can help you understand the answer for them.
• 3:07
  [SPEAKER_01]: it will anchor the team.
• 3:09
  [SPEAKER_01]: It will help them to feel comforted that it's being looked at continuously as the issue prevails.
• 3:17
  [SPEAKER_01]: And as you need to update them, make sure you do.
• 3:21
  [SPEAKER_01]: It doesn't mean you have to stop everything and get everybody in huddles and take up a lot of time.
• 3:27
  [SPEAKER_01]: You can identify through email blasts.
• 3:30
  [SPEAKER_01]: However, you communicate with your team.
• 3:32
  [SPEAKER_01]: You can be direct with some.
• 3:35
  [SPEAKER_01]: But
• 3:35
  [SPEAKER_01]: it's really important because in times of chaos, people aren't looking for perfection, they're looking for direction, they're looking for understanding, they're looking for comfort that the leaders in their life are prepared.
• 3:48
  [SPEAKER_01]: And while they don't have answers, they're prepared, they're taking on the responsibility of planning, they're taking on the responsibility of engaging
• 4:02
  [SPEAKER_01]: that individual influence will have a positive ripple effect for your organization and it will serve you as a stabilizing point.
• 4:10
  [SPEAKER_01]: Not just with your clue you interact with directly, but people through the whole organization that could include vendors, partners, customers.
• 4:20
  [SPEAKER_01]: We're facing a lot of this tariff issues in these tariff issues.
• 4:24
  [SPEAKER_01]: kind of complex.
• 4:25
  [SPEAKER_01]: They can't be based on things that we don't normally measure like the derivatives of metal or what our products are made of and where to those parts of our products come from.
• 4:36
  [SPEAKER_01]: We're seeing this and it's adding a level of complexity that we've never had to deal with, but we don't ignore it and we communicate with our team and we communicate with our customers and our vendors about what we're facing, about what we're going through, about the changes
• 4:53
  [SPEAKER_01]: It's also not about pushing harder.
• 4:55
  [SPEAKER_01]: We got to measure what matters, which means that it can still be business as usual.
• 5:01
  [SPEAKER_01]: If we understand that there's chaos and our customers are really upset about it, have conversations with them.
• 5:10
  [SPEAKER_01]: Tell them what you're doing to try to stabilize things.
• 5:13
  [SPEAKER_01]: Focus on being smart about how you communicate about your supply chain, what you're doing to stabilize your supply chain, the conversations you're having.
• 5:24
  [SPEAKER_01]: If you're making plans about alternative vendors, alternative shipping, alternative locations to have vendors, maybe it's moving production from one factory to another because it's in a different place,
• 5:38
  [SPEAKER_01]: tariffs are different, maybe shipping's different, but keep your team engaged.
• 5:47
  [SPEAKER_01]: And make sure that what you're doing is attainable.
• 5:51
  [SPEAKER_01]: To make promises, you can't fulfill the biggest mistake we see clients making is over promising and underperforming, especially in this environment.
• 6:04
  [SPEAKER_01]: So I would promise less.
• 6:06
  [SPEAKER_01]: I would even under promise and over perform.
• 6:09
  [SPEAKER_01]: It's a common business tactic, and it works really well.
• 6:13
  [SPEAKER_01]: And if you're challenged on that by a customer or a vendor, be honest about it, ask them, would you rather have me under promise and over perform or over
• 6:27
  [SPEAKER_01]: And just because it might give them a off ramp to being in trouble because, well, hey, my vendor told me that haven't here by a certain date and it gives them the ability to blame you.
• 6:40
  [SPEAKER_01]: Well, most of us have core values that that will work, so don't get yourself put into that corner.
• 6:46
  [SPEAKER_01]: Define what success looks like through these times in smaller pieces.
• 6:51
  [SPEAKER_01]: having answers to smaller questions, winning by a day or a week.
• 6:56
  [SPEAKER_01]: If our timeline has been pushed out by two weeks, do everything you can to make it 10 days.
• 7:02
  [SPEAKER_01]: Count that as a win.
• 7:03
  [SPEAKER_01]: As we lean into these issues, use these smaller measurements to make them wins.
• 7:11
  [SPEAKER_01]: If the tariffs can potentially be larger in 90 days,
• 7:17
  [SPEAKER_01]: Start to develop programs for your customers that might get them to buy.
• 7:22
  [SPEAKER_01]: before those tariffs come into place.
• 7:25
  [SPEAKER_01]: Use it as an investment.
• 7:26
  [SPEAKER_01]: An investment in their supply chain and investment in lower costs.
• 7:31
  [SPEAKER_01]: And use that as a hedge and as a gap for them to plan in their business.
• 7:36
  [SPEAKER_01]: Maybe they're going to have to raise their prices, but if they give you a bigger order today, because the tariffs might be there in 90 days, they can avoid a price increase.
• 7:45
  [SPEAKER_01]: Now, we might
• 7:50
  [SPEAKER_01]: then you need to become more fiscally responsible because you got their order that they would normally make at nine days now.
• 7:56
  [SPEAKER_01]: And it's important to strategically think about how you would do that.
• 8:00
  [SPEAKER_01]: A lot of people would get those extra sales now and then spend the money.
• 8:04
  [SPEAKER_01]: Get those extra sales now and be strategic about it.
• 8:07
  [SPEAKER_01]: Be smart about it.
• 8:09
  [SPEAKER_01]: Everything we do has a ripple effect.
• 8:11
  [SPEAKER_01]: Every decision we have.
• 8:12
  [SPEAKER_01]: But every
• 8:15
  [SPEAKER_01]: get up above at 30,000 feet, 20,000, 10,000, 5,000.
• 8:20
  [SPEAKER_01]: Ask the questions along the way.
• 8:22
  [SPEAKER_01]: He's smart about to be specific.
• 8:25
  [SPEAKER_01]: Measure along the way.
• 8:26
  [SPEAKER_01]: Ask yourself, is what I'm doing attainable?
• 8:29
  [SPEAKER_01]: Is it real and relevant right now and can I get it done in the time I have?
• 8:34
  [SPEAKER_01]: And just challenge yourself each part of the way.
• 8:38
  [SPEAKER_01]: you will be able to address the chaos that we're facing, you will be able to address the things that are getting in our way right now.
• 8:46
  [SPEAKER_01]: And this doesn't just apply to tariffs, it can be about any business issue we have.
• 8:53
  [SPEAKER_01]: So take the time, slow down, be smart, and form your team along the way, be transparent, engage with your customers, engage with your supply chain, your vendors,
• 9:04
  [SPEAKER_01]: work together so that you're all in the same page, you're all in it together.
• 9:08
  [SPEAKER_01]: And when we do get to the end, you will see that your relationships will be better.
• 9:12
  [SPEAKER_01]: You will have gone through something that makes you stronger, individually and stronger as teams, and it will serve you well the next time we face chaos and uncertainty.
• 9:24
  [SPEAKER_01]: I hope this helps you to settle in, become more present with what we're going through, and plan, strategize, and get tactically engaged in a more smart way.
• 9:36
  [SPEAKER_01]: I look forward to talking to you again soon.
• 9:37
  [SPEAKER_01]: Have a great day.