COVID-19 has seemingly turned the world upside-down. Chances are that if you own a business, the pandemic has introduced you to a new level of economic and financial turbulence.
But a turnaround is like a business fire: Regular people run from fire, but leaders should be like firefighters and run toward it.
Kevin Adams, founder and CEO of The Mountain Group, is this week's guest on Success That Lasts. With over 25 years of experience, Kevin is an expert in guiding firms through periods of difficulties. He joins host Jared Siegel to share insights he has garnered while helping over 100 companies through turbulent times.
Tune in here, at delapcpa.com/podcast, or wherever you listen to podcasts:
Here are a few highlights from their conversation:
- The rapid onset of COVID-19 has introduced business owners to a new level of economic and financial uncertainty.
- The Mountain Group works as a shareholder representative and specializes in financial restructuring, bankruptcy, and acquisitions/divestitures.
- Kevin was hired as a CEO at age 24.
- Jared asks Kevin to give some advice to business owners who may be fearful for the future of their businesses. Kevin says the first thing they should do is come to a conclusion of how long the impacts they are facing are going to last, in order to build a general framework to operate on.
- Self-care in these times is not selfish; it is the equivalent of putting your oxygen mask on first before assisting someone else.
- To determine the priorities business leaders should be focused on during difficult times, the core market, distinctive competency, and ways to preserve them must be identified.
- Being a CEO is a season of life and it eventually comes to an end.