Enduring 2023 – 6 things that will get you through

There’s always a tendency around this time to think that the coming year is going to be a great one – the year in which we achieve x, y, and z.  If you are not filled with energy and enthusiasm, then there’s something wrong with you.  But this year I’m talking to a lot of people who are not feeling that way at all.  The consensus is that 2023 is going to be a tough year and the evidence of an upturn in 2024 is questionable.  The Ukraine war is not going to end any time soon and may escalate; inflation is not going away; interest rates are not going to return to their old levels;  good employees are going to be hard to find and hard to keep. The social fabric is torn in many places.

If you are a leader what do you do in these circumstances, where the glass is definitely half empty and sinking into gloom seems like the easy option?  There are six things that will help:

1. Remember that the first objective of any business is to survive. Stop doing anything that doesn’t focus on survival.
2. Do not pretend that things will get better, face reality and tell the truth. This is going to be a difficult year but, at some point, the economy will turn and you intend to be there when it does.
3. Try to look after your people; what can you do to support their well-being and that of their families, especially for the lower paid?
4. Get as close as you can to your customers and suppliers, 2023 will be tough for them too.
5. Look for as many “silver linings” as you can, bad times often contain great opportunities.
6. Over-communicate, when there is no communication the rumour machine takes over and you will not be able to shut it down.