Success Magazine has a current section on American Comebacks. The section includes inspiring comeback stories and my tips on how to make it happen.
Tips for a Comeback
Don’t go it alone.
When things are toughest, many business leaders isolate themselves. That’s precisely the wrong response, since it’s nearly impossible to be creative in a vacuum, says executive coach Michelle Randall. Talk with coaches, mentors and members of your team. “When things do turn around, the leaders who do this have created a more trusted team than ever before,” says Randall, the principal of Enriching Leadership International, a global management consultancy.
Turn vendors into allies.
Ask for more generous terms and programs while always positioning them as being in the vendors’ best interest—because they are.
“People I’ve seen stage successful comebacks were completely focused on the desired outcome. As a result,” Randall says, “they sought any course of action that would get them there.”
Be flexible. “My clients who have pulled off the most successful comebacks have been relentless in their belief that they could do it. As a result they were flexible in finding opportunities and marshaled the people around them to create extraordinary results.”
Don’t wallow in self-pity.
“People I’ve seen be less successful got mired down in why-me thinking. That victim mentality wasted time and energy and made them overly apologetic with vendors, customers and employees instead of acting like peers.”
Remember, Randall says: “Every real business has been through plenty of crises. It’s what they do when that happens that defines them.”