One of my investors once told me, “as a CEO, each day will be an adventure where someone or something is trying to distract you from your mission.” This is the lens from which I’m viewing the recent Silicon Valley Bank crisis. When running a startup, whether it’s the pandemic or a banking failure where 100% of your funding lives, leaders are always being tested on their ability to lead during stressful times. Yes, I am a psychologist, and I can still find myself feeling overwhelmed and stressed just like everyone else. Yet as a startup founder, I’ve found the key to survival is to find ways to manage my emotions while still supporting my employees to keep moving toward our mission, even in the face of uncertainty. I’ll share some of the lessons I’ve learned about leading during turbulent times and hopefully offer practical ways to lead effectively in the face of uncertainty.
Prioritize and model self-care
As CEOs and leaders, it’s easy to put our own needs last. But during times of stress, it’s crucial to prioritize self-care, so that we can be effective in our support of others. Figure out what works best for you, whether it’s taking a few minutes each day to meditate or go for a walk, getting enough sleep, eating properly, a quick binge of Drive to Survive on Netflix (maybe that’s just me), or seeking external support from a therapist or coach. In these moments, taking care of ourselves is essential to leading effectively. A leader that models self-care sets an example for their team to prioritize it as well.
Lead from the front with compassion
In a startup, things are never smooth, and it’s important to remember that our employees will pick up on our stress (see above) and it will radiate through the ranks. By leading from the front with compassion for ourselves and our team, we can model understanding and support. Tangible support is also important: this could mean offering flexible hours or remote work options; offering therapy or coaching options; or simply making yourself available for regular check-ins where employees can voice their concerns and feel our validation. Of course, this is predicated on us putting on our own oxygen masks first, so that we can effectively support those around us.
Communicate clearly and frequently
It’s essential to keep the lines of communication open. Make sure you are regularly communicating with your team, whether through email updates, video calls, or other methods. Transparency around company direction and performance is important—if possible, provide regular updates on how the business is doing and what steps you’re taking to ensure its success in difficult times. Don’t be afraid to ask for feedback from employees too; their insights can often provide invaluable advice that can help lead your team out of this challenging time.
Create a culture of support
During uncertain times, it’s essential to promote a nonjudgmental culture of support within your organization. Encourage your employees to support each other, whether it’s through virtual coffee breaks or regular check-ins. Make sure everyone knows they have access to mental health resources and support if they need it. Don’t cancel team-building activities: they don’t just help build camaraderie among coworkers; they also provide an opportunity for everyone to take their minds off the current situation and focus on something else instead.
Learn from your experiences
True resilience requires learning from your experiences to create positive change for yourself and those around you. If you’ve found that you don’t know where to send your team to get support, now’s the time to find resources. If you feel like your team has a lack of trust or spaces that feel safe during times of crisis, now’s the time to start building. Learning from crises can help us develop problem-solving skills that make us better equipped to handle similar challenges in the future as well as strengthening our ability to bounce back from setbacks more quickly than before. It also allows us to recognize opportunities for growth within ourselves and our teams, which can ultimately lead to greater success down the line.
Related: A bank run for the digital age
Leading during turbulent times is hard, and totally expected as a CEO. Developing the skills to get through the tough times is what creates resilience. It can be easy to feel overwhelmed, and important not to be reactive to the anxiety or panic you feel. Instead, take a few thoughtful steps: lead with compassion and empathy, communicate clearly and frequently with your team, create a culture of support in your organization, and prioritize self-care within yourself and those around you. Did I mention focusing on self-care? Finally, learn from your experiences; use them to hone your growth edges rather than beating yourself up with reasons you weren’t good enough. Isn’t this what good leadership is all about? Because let’s face it: Tomorrow is a new day, and we just have no clue what’s coming next.
Dr. Sarah Adler is the founder and CEO of Wave Life, a mental health benefit for employees that offers National Board Certified Coaching with an engaging and science-backed app.
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