As we head into the last month of Q3, many economists and business forecasters remain optimistic about the recovery post COVID-19. Most expect a slow uptick in Q3 and Q4 with a more visible rebound in 2021.
Yet every note of optimism comes with a flashing red-light disclaimer: No one really knows how long the world will be wrestling with the challenges brought on by the COVID-19 pandemic. For business leaders, this uncertainty creates a conundrum: How do we strike the right balance between optimism and reality? How do we avoid over- or under-reacting?
Jim Collins did a great job of illustrating this leadership skill in his book Good to Great. He shares the story of U.S. Navy Vice Admiral James Stockdale, who was a prisoner of war in Vietnam for seven years, surviving when so many others did not. Stockdale explained: “You must never confuse faith that you will prevail in the end—which you can never afford to lose—with the discipline to confront the most brutal facts of your current reality, whatever they might be.”
As leaders, we’re expected to be optimistic, to be the chief cheerleader, keeping everyone motivated and pushing forward. But you can’t ignore the realities of a situation and must ask yourself “Am I facing our brutal facts?”
Collins embraced Stockdale’s concept of the Brutal Facts, saying “The Stockdale Paradox is the genius of the word AND. You must have unwavering faith AND you must confront the brutal facts of your situation.”
To embrace the Stockdale Paradox, use these three strategies to maintain your company’s focus.
Self-Care
As I shared in last month’s blog, taking care of yourself is one of the most important things you can do for your company. Take time to regularly turn off the noise, step away from the business and completely unplug. You need the strength to continue the fight.
Care for Others
Unprecedented times like we’re experiencing require a new level of empathy. Take time to understand what your team is experiencing both at work and at home. You cannot shield them from the reality and raising expectations too much could blindside them later.
Rallying Cry
What is the most critical thing you need to keep the business going right now? Renowned author Patrick Lencioni defines this as your “Rallying Cry.” It’s shared across the entire company to keep everyone unified and focused on the same tangible short-term goal. Visualize what obstacles stand in the way of reaching this goal and then address them head on.
Admiral Stockdale said after his release years later, “I never doubted not only that I would get out, but also that I would prevail in the end and turn the experience into the defining event of my life, which, in retrospect, I would not trade.”