Navigating leadership in uncertain times

In times of pressures and change, only courageous, trustworthy and future-focused leaders will steer their businesses through fierce waters into a better place. The rest, those who are unwilling or unable to face the storms, will flounder.

Whilst uncertainty isn’t new, it is fair to say that this present moment is one with heightened risks. Money is harder to come by; there’s less of it around. At the same time, costs of doing business are rising. The global political landscape is fractious. Norms in global trade and aid have been rewritten by the swipe of a Sharpie. Wealth is increasingly held by fewer people. Technology is accelerating the impact of everything; it’s an enabler, certainly, but also a threat as the escalation in cyber attacks and outages is already showing.

These are conditions that reveal the quality of people in leadership roles.

What will separate the good leaders, those whom we want to follow, from the rest? It will be those who can hold together in tension what seem like opposing qualities. They will:

• be concerned about risk and consider opportunities. It’s difficult to hold both risk and opportunity together, but that’s precisely what the best leaders do. They resist the temptation to adopt an ‘either-or’ mindset when it comes to sentiment. They can manage their confidence throughout an entire cycle, holding both excess caution and excess optimism at bay. For example, one business area might require rapid risk mitigation in the face of changing circumstances, but that does not mean that there are no new opportunities for growth elsewhere.  

• think carefully and act decisively. Excellence demands that we consider the sophisticated connections and risks. Good leaders carve out time to think these through, resisting the urge to constantly react to whatever is immediate. Equally, there’s a point at which a decision must be made with conviction and acted upon. Overthinking or worse, wishful thinking, is disastrous.

• quit and commit. Effective leaders genuinely prioritise their company’s resources. They do not allow time, money, people, property or equipment to be employed in providing products and services that are on the wane or no longer core to the business. They stop things that should be stopped so that increasingly scarce resources can be focused and committed only to what’s essential. It takes courage to stop something, especially if it’s been a source of pride in the past. But that’s what the best leaders do. 

• direct and listen. There are times to command, give orders and drive action. There are times to listen, receive feedback, recalibrate and reflect. Great leaders are incredibly adept at sensing what’s required and when. They do not push at the wrong time, nor dither when a decision is required.

How will this look in practice? The best will exude a calm and considered confidence, neither hiding nor flapping but guiding forward with clear conviction, communication and care. Someone like that is highly worthy of our followership.