To manage crisis pretty well, they we might need to be accountable, take responsibility and be calm and always have a plan B, plan B usually are like the Saving grace that helps takes you off the ongoing crisis, this is absolutely necessary
I think this is important. One must plan for any contingency in any given moment. If you don't have a backup plan, you could get burned really easy and fast! There are so many projects out there that went that way and it wasn't pretty.
Effective communication, clear guidelines, a supportive team, adaptability, and seeking external expertise are key strategies for navigating and overcoming challenges.
Yeah communication plays a good role in managing crisis suitaton.Communication involves galking with the team and discussing a perfect strategy to take on the crisis at hand.Seeking any external expertie would play a keg role too
Founders should heed others' mistakes. Learning from past experiences equips them to tackle crises effectively. By understanding how predecessors navigated challenges, they gain valuable insights, ensuring wiser decisions when crisis comes
We should learn from our mistakes. Instead of insisting on it, we should accept the reality and check our own limitations. So we can find the path to be successful with our business or companies.
The most difficult thing in the projects is to assume the mistakes, a good leader must be prepared and assume the risks and get up, I even believe that something like this would give more confidence to the community in such a case.
Yeah, this is a great add on, founders should try to look at how those in similar businesses faced those crisis that came on their way. They should be leaders that are ready to seek assistance from people that have similar project running
Consistency of communication is very important in managing a crisis. For example, if you send out updates maybe once every 2 days. It is important to maintain this consistency in times of crisis. There would be no need of trying to send in a barrage of updates in such a very short period of time. Maintaining the same frequency helps to contain the pressure in the community.
Crisis is just inevitable, it happens either in a relationship, at work or anywhere, but one needs to remain calm during the crisis as it is just a normal thing, you hit the nail on the head #Jeremy
I think that sometimes it is difficult to go through a crisis and not have emotions running high or to have a crisis in our feelings ourselves. When I have gone through them I try to remember that it will pass 💫
Being a leader is not all about carrying the whole burden alone, you need to be open to your team, you will be amazed at the help and suggestion you can get from your team to navigate through the crises.
I support this theory, it does not mean that being a leader can handle everything alone, you must trust a team that is willing to support in times of crisis and in the face of any other adversity.
This is one of the things some leaders and managers are lacking in organizations. They think that since they are in an exalted position they are the reservoir of knowledge. No it's not so.
During the moment of crisis, I discovered there was the need to have a business coach and mentor and I didn't have. I barely had a team to talk about it because I was a solopreneur.
exactly what Jeremy said. Many of us are solopreneur or shy to ask for help. It's not really the best way to improve as the pressure and effect of the crisis can be much on the person but having better team and mentors can really sustain and manage the establishment for success with little effect of the crisis
Generally we always try to avoid moments of crisis, but they also serve to show us in a more serious and tense way where we are failing and making mistakes. I believe that we learn more from mistakes than from successes, but of course this is subordinated to personal mistakes, since in a company or project, making mistakes can be very costly and can become a bad deal for all members.
Quite a complex question, but one of the things I have often seen is public disagreement between members of a project, even abandoning their role in the project. I think this creates mistrust and therefore crisis.
I agree with you that it is a very interesting point to be analyzed, I am not sure if crisis management also encompasses what people can think or do, for example when they do not agree with an opinion or position, but I believe that a good manager can predict exactly this as well and thereby minimize this problem.
The truth is that yes, we don't know much about what's going on behind the scenes, but it's true what you say, I hope this situation can be resolved soon.
That sounds like an organizational crisis. That creates gaps in some processes and they are extremely dangerous. It fractures not only the workflow, but also the people. This could lead to a loss of credibility with customers.
This is interesting, because this always happens in any kind of project, but it gets worse when the disagreement is between leaders, and many times when one of them abandons everything falls, it would be great to find a solution to this.
the emotional state of the founder and the team behind the project really matters when crisis happens. When crisis happens, everyone should be goal oriented and seek for solutions, not merely crying over the failed projects.
Good topic today, it's definitely something we need to look at inorder to get them ready and prepared for tasks ahead of them, especially when it comes to building and keeping users stick to their projects.
I believe that one of the points that a good manager needs to be careful with a project is precisely the allocation of resources, whether financial or not, as I think that an unfinished project, halfway through, can be something very bad and demotivating, which can mark negatively the entire team and the careers of its members, for example future projects that they may participate in.
Absolutely agreed. Poor management can lead the team and the project to waste in a matter of seconds. Resource allocation should be a subject that should be studied, because learning from experience is costly and sometimes painful
Yes, I believe that many of these crises happen when the leader does not delegate correctly the tasks to be performed or the resources as such, that is why a team is needed to help with everything involved in a project to avoid these crises
Exactly, it is super necessary to have a ready and highly technical team that can help in the most complicated moments, this makes perfect sense and will help a lot.
One Crisis a founder can face is disagreements among his or her employees. One thing we all will admit to is anything that involves more than one person is bound to generate Crisis but then the best way to deal with such a crisis is by being a good Listener and observer.
You have to learn how to listen more than speaking more, that way it will help you spot the source of the crisis easily and eventually when the problem is know, there will surely be a solution.
Where there is more than one person involved, there will be disagreements. But these disagreements shouldn't lead to serious crisis. If they do, the leader has to step in, be objective and think about what is best for the business.
Today topic is just bringing back memories of time when I was studying administration.
There is an example like this in one of the text book. The CEO need to be a good listener and ask question. There might be two groups wanting dfferent
things but most time the minority group can be wrong or right. Also, he can resolve the crisis by requesting for feedback to a questionnaire set by him.
I do miss crisis management class
so sorry. Reason is that I saw you online. Those one are yet to wake for the show. You can help to contact them to join. I missed the last show before AMA before I did not know
It's a show hosted on X spaces where several topics on Web3 projects and blockchain are discussed. You have the opportunity to learn, ask questions and engagements.
In all, I think some crisis, when rightly managed, could make the project stronger and better. I remember the @inleoio bridge leaks that time and how the report led to a stronger and more -proof bridge.
After experiencing a crisis in our own business, we should deal with it by discussing it with everyone involved in the business or the project. I think any kind of trouble can be controlled by taking joint initiative.
No doubt the subsequent conversation has to go. You have to learn from what happened and make a plan to prevent it in the future. Some people are afraid of that conversation as it seems to them that they will just be looking for blame.
In view of that, we need to create an active and healthy community for our businesses. So that we can get the perfect solution to manage the crisis we face. An active community plays a vital role for a business.
Working together is capital to face crises, strategies that benefit the majority must be thought of, for therein lies the potential of a leader, if he/she is able to see beyond.
I think there is always going to be crisis, and any founder has to be ready at all time to face these crisis, have some money saved for crisis and always have the emergency team ready for action at all times
Getting the right team to solve a crisis is important in handling a crisis. Bringing different minds with different opinions laid out on the table could quickly solve the problem, but a thorough review must be made before implementing the solution.
Not everyone in the organization has to be involved on managing crisis, that will make the response to slow, but who takes decisions has to bet set up before something happens, even the loses that can be afforded have to be set up beforehand.
You are right. Collective initiative makes a task very easy. Moreover, if we have the opinion of others for crisis management, then the pressure on us will decrease. As a result, we can find the perfect solution very easily.
Yeah that is a great idea from them, I also do agree to that as well, but then sometimes we need to select the problem solvers among the team to deal with those problems and not just everyone in the team.
Mistake are not planned but simply occur without intention.Moreover, tend to occur at the most inopportune moment.u never want to expect failure, but ur project should be prepared for different types of crisis situations in case any happen
Great point! Salam. I think In handling any crisis, communication is key. Transparent and honest communication with employees, customers, and stakeholders builds trust and allows for a smoother resolution.
While Web3 promises a decentralized and user-controlled future of the internet, it also introduces new challenges and potential crises. Like in crypto we can face some volatile move. So have to learn before using a Web3 platform.
Due diligence is the first step to take in crisis management. This is to fact check the true cause and origin of the crisis. This will help determine from what point to attack the crisis from.
Absolutely! the founder has to do their homework, like fact-checking where it all started and why. This way, they can figure out the best way to tackle the problem head-on. It's like finding the right starting point to fix things.
I feel crisis are inevitable and so whenever it happens, try to figure out what the problem is and assess the risk level. Then find a solution. Trust me, there is always a solution. You should know crisis management ain't magic, it's smarts
Yes, I imagine you have to be very smart to get behind a crisis and come out on top. Keep a cool head too, analyse without feelings getting in the way. You must be someone with a lot of emotional intelligence.
When it comes to business, crises can definitely be destructive. But the key to navigating through them is effective communication with your team and possessing the qualities of a good leader.Also, openly discussing the challenges will help
Good expertise among your team members is just a perfect way to curb a crisis, so you have someone to run to, at least someone smarter and more experienced than you are.
exactly the way to go. The problem is some founders or rather managers would rather overlook the problem than calling up someone that can easily rectify the problem. For various reasons. I have been in that situation n4. A junior staff
Looking at Crisis management, I think the founder's role is very key. He gives direction and bears the weightier part of the burden of the project or business.
There are several roles for crisis management it depends on the nature of the crisis. There could be the general crisis manager that manage all crisis and also the decision makers that help in making suitable decisions during that time.
Crisis can happen at anytime and there is always a solution for crisis and a strong leadership needs to be ensured. Moreover, need to Assemble a crisis management team to handle the situation. Also, a plan is need to be developed by them. Crisis management plan should be rooted with the philosophy & also the values of the organisation.
If we are the founder of our projects, we should be stay calm to handle the situation. We have to deal the crisis professionally not emotionally. We need to monitor your industry, market, and competitors to stay ahead of potential threats.
Yeah, there should be a protocol to follow, to know who does the calls when making fast decisions, some times there is no time to communicate to everyone so there has to be people authorized tho handle the things that can not be planned in advance. Then they have to report after the issue and explain everything
Exactly, every leader with his team must have an action plan to manage crises. Otherwise, he would be committing a serious failure and that would jeopardize the future of the project.
Good leadership helps with effective problem solving. Support, organization and other factors are essential. There will always be problems, the key is to solve them efficiently.
Something that can influence a crisis is emotions, you have to be prepared and have a risk management plan in case something goes wrong, raise the problem, listen to opinions and make the best decision, a good leader would do that.
Your words are very accurate 🤗. Strong leadership means that the project lead or project owner is willing to work together with his team. Crises are more manageable when those involved act for the common good 💫 It is the welfare of all.
To solve crisis you just need the right team to communicate with, if you have a conversation with the right team you get the problem solved. So In order to handle crisis just surround yourself with the right people. #communicate
A big way to go on this. Communication is a big key in solving any crisis that is showcased in businesses.Having the right team checking in with HR to detect changes in employees' behaviour is one way, with this problem can be managed.
Absolutely! Building a strong team with effective communication is pivotal in andresolving crises. Collaborating with the right individuals ensures a proactive approach to problem-solving, making the journey through challenges smoother.
Some crises could cause a breakdown in businesses, it could be the allocation of resources, financial issues, or communication issues. When this is done, prosperity can set in.
Mostly it is like this, it is unfortunate when they happen, it can even completely finish a company, there have been cases like this. And others of those who recover from it.
But with a pre planned crisis management can abort this from happening. The downfall would be stopped by the crisis management team. Because there is a solution for every problem and I think there’s nothing to be worried about.
Financial crises are usually constant when partners do not know how to communicate with each other and face the situation in the correct way. You must look for a team that is willing to face difficult situations and seek quick solutions.
@breads I believe that financial and operational crises are the most obvious and the most difficult to overcome, but with planning, preparation, communication, and transparency, these crises can be overcome and can even strengthen everyone
There is this topic in administration we did that has to do with crisis management. When we are dealing we crisis, there are theories to get the solution
Has it happen before(Information on when it happened before)
Perhaps one of the first things we could do when alarms sound is to determine if it is a false alarm. If we confirm it, we need to assess the risks, based on whether it is "important" or "urgent" or both.
Good point. While there can be various issues or concerns, some are more pressing than others so to avoid getting overwhelmed, assessing them would make us decide on which to solve first based on their urgency.
Yes, that's right. Some may be urgent because of the repercussions it could have, others because there is simply a deadline to be met. These are good factors to measure the issue.
It's good to confirm if it's a false alarm, but in some situations it may be to late to confirm if it is false or not so I always prefer you save important files and properties first, before confirming if the alarm is true or false
No matter how good you are there will definitely be crisis and that doesn’t mean something is wrong with you or your organization because crisis are normal and handling them with wisdom in a civil manner is the ideal thing to do.
Indeed, well said. Some crisis have nothing to do with you as a founder or individual but will happen no matter what. It all depends on how well you as a founder handles the crisis. That is why it's very good to have the right people
Having the right people is just the goal because crisis is inevitable. It's doesn't matter how excellent one is or how good or bad the organisation is. What matters is how the crisis got resolved at last and with right people, it's easier
there are things that are inevitable in life. As far as you engage and relate with people in whatever field, there is bound to be crisis. How you manage that crises determines a lot on how well you take charge of situations.
A leader must have certain characteristics to perform his or her job, otherwise the project is prone to fail. The important thing is how he manages each situation and gets out of crises well, because many situations can be overcome.
The skill to handle crisis is very important for founders and businesses owners. The first thing is to use the right words to calm things down and don't get pressured to solve the problem quickly but take time with serious thinking and consideration to solve the problem.
That is right bro, I guess this is another skill founders / leaders need to possess. Being quick to act without properly thinking about what the outcome of your action is wouldn't be wise to handle a crisis. It's good to take a sec to think
Founders have to build a patience mentality when crisis arise because it not easy to stay sane when it seems things are falling apart, because not only could the project get destroyed completely but the founder could breake down at that period and loss their mind.
It is true that business owners must have the ability to manage times of crisis. You have to have a cool mind and calmly analyze the problem and see how to solve it in the shortest time but always analyzing everything necessary.
Analysing the problem with a trusted team would enhance quick solution to the problem, but the founder has to be careful not to rush things because it could backfired.
I've had financial Crisis I'm business. Lost some big money in my first 2 years in business. I was all very new in the business sphere and within 24 months, I lost about $2k. It was a big money then.
It's common knowledge that some projects may not turn out the way it was planned at first and in cases of crisis management, I think one of the effective way of managing crisis is effective communication.
The key to success in addition to effective communication are the plans, we must always keep in mind the pros and cons, things that we do not want to happen in times of crisis, we must keep them in mind to be prepared...
MO: Money problems can be incredibly stressful-Possible team conflicts-product not performing as expected-A burnout-legal issues-Health challenges.Crises are part of the journey,so embrace it,acknowledge emotions & seek support when needed.
I think that financial problems in projects are a factor that will always be there, here the point is how to solve it as a team and to reach a mutual agreement so as not to let the project die would be the main thing.
Absolutely, spot on Cieliss🔥
Involving your team to find solutions is a great approach, see it as a cooperate problem rather than an individual problem.
Answering to your question @Bread I think when those things are happening you just have to stay calm. It is difficult but you need to stay calm and try to understand what’s going on and think of ways to manage what is going on
This requires several competencies. In fact it was something that was discussed in a previous space. Keeping calm is difficult, but a good, well-trained leader can do it. But he needs first of all, be a leader, not just a boss.
I agree with you! When life throws challenges your way, it's important to stay calm, keep your head in the game, and stay focused on your goals. Remember, setbacks are just temporary roadblocks on the path to success.
There is no single way to solve a crisis. Everything depends on the context in which the project is immersed and the characteristics of the people involved.
Crises management to start with means they had been a failure in one sector or another, to manage this, one need to stay calm, take your time to monitor the situation,this helps not to jump into conclusion or panic into causing more damage.
Taking time to assess the problem and providing solutions is important because rushing to create a solution could make the problem worse because of poor evaluation.
When we talk about crisis management, we mean crisis within the organization which is within the domain of the organization and those outside the organization(external factors)
Examples are natural disaster, work place violence etc
Our brains tend to focus on negative things, so during a crisis, it's normal for negative thoughts to take over. For this reason, you need to have a little knowledge of neuroscience or psychology to be able to manage them.
crisis can come up from technical issues, the Boss, poeple etc. But it's best to remain calm and figure out things knowing that some crisis can be managed or avoided happening again. How to improve should be the main focus
This is an cool topic to explore especially for people that are running a project in Web3. Things can go wrong from several places. It can be people related, tech related, tokenomics
I look forward to every discussion that will unfold here
To manage crisis pretty well, they we might need to be accountable, take responsibility and be calm and always have a plan B, plan B usually are like the Saving grace that helps takes you off the ongoing crisis, this is absolutely necessary
I think this is important. One must plan for any contingency in any given moment. If you don't have a backup plan, you could get burned really easy and fast! There are so many projects out there that went that way and it wasn't pretty.
Effective communication, clear guidelines, a supportive team, adaptability, and seeking external expertise are key strategies for navigating and overcoming challenges.
Yeah communication plays a good role in managing crisis suitaton.Communication involves galking with the team and discussing a perfect strategy to take on the crisis at hand.Seeking any external expertie would play a keg role too
Founders should heed others' mistakes. Learning from past experiences equips them to tackle crises effectively. By understanding how predecessors navigated challenges, they gain valuable insights, ensuring wiser decisions when crisis comes
We should learn from our mistakes. Instead of insisting on it, we should accept the reality and check our own limitations. So we can find the path to be successful with our business or companies.
The most difficult thing in the projects is to assume the mistakes, a good leader must be prepared and assume the risks and get up, I even believe that something like this would give more confidence to the community in such a case.
Yeah, this is a great add on, founders should try to look at how those in similar businesses faced those crisis that came on their way. They should be leaders that are ready to seek assistance from people that have similar project running
Consistency of communication is very important in managing a crisis. For example, if you send out updates maybe once every 2 days. It is important to maintain this consistency in times of crisis. There would be no need of trying to send in a barrage of updates in such a very short period of time. Maintaining the same frequency helps to contain the pressure in the community.
Crisis is just inevitable, it happens either in a relationship, at work or anywhere, but one needs to remain calm during the crisis as it is just a normal thing, you hit the nail on the head #Jeremy
I think that sometimes it is difficult to go through a crisis and not have emotions running high or to have a crisis in our feelings ourselves. When I have gone through them I try to remember that it will pass 💫
Being a leader is not all about carrying the whole burden alone, you need to be open to your team, you will be amazed at the help and suggestion you can get from your team to navigate through the crises.
I support this theory, it does not mean that being a leader can handle everything alone, you must trust a team that is willing to support in times of crisis and in the face of any other adversity.
This is one of the things some leaders and managers are lacking in organizations. They think that since they are in an exalted position they are the reservoir of knowledge. No it's not so.
During the moment of crisis, I discovered there was the need to have a business coach and mentor and I didn't have. I barely had a team to talk about it because I was a solopreneur.
exactly what Jeremy said. Many of us are solopreneur or shy to ask for help. It's not really the best way to improve as the pressure and effect of the crisis can be much on the person but having better team and mentors can really sustain and manage the establishment for success with little effect of the crisis
Generally we always try to avoid moments of crisis, but they also serve to show us in a more serious and tense way where we are failing and making mistakes. I believe that we learn more from mistakes than from successes, but of course this is subordinated to personal mistakes, since in a company or project, making mistakes can be very costly and can become a bad deal for all members.
Quite a complex question, but one of the things I have often seen is public disagreement between members of a project, even abandoning their role in the project. I think this creates mistrust and therefore crisis.
I agree with you that it is a very interesting point to be analyzed, I am not sure if crisis management also encompasses what people can think or do, for example when they do not agree with an opinion or position, but I believe that a good manager can predict exactly this as well and thereby minimize this problem.
The truth is that yes, we don't know much about what's going on behind the scenes, but it's true what you say, I hope this situation can be resolved soon.
That sounds like an organizational crisis. That creates gaps in some processes and they are extremely dangerous. It fractures not only the workflow, but also the people. This could lead to a loss of credibility with customers.
This is interesting, because this always happens in any kind of project, but it gets worse when the disagreement is between leaders, and many times when one of them abandons everything falls, it would be great to find a solution to this.
the emotional state of the founder and the team behind the project really matters when crisis happens. When crisis happens, everyone should be goal oriented and seek for solutions, not merely crying over the failed projects.
That's why I understand that you need knowledge of psychology, knowing how to manage your feelings so that things don't get out of hand.
Good topic today, it's definitely something we need to look at inorder to get them ready and prepared for tasks ahead of them, especially when it comes to building and keeping users stick to their projects.
I believe that one of the points that a good manager needs to be careful with a project is precisely the allocation of resources, whether financial or not, as I think that an unfinished project, halfway through, can be something very bad and demotivating, which can mark negatively the entire team and the careers of its members, for example future projects that they may participate in.
Absolutely agreed. Poor management can lead the team and the project to waste in a matter of seconds. Resource allocation should be a subject that should be studied, because learning from experience is costly and sometimes painful
Yes, I believe that many of these crises happen when the leader does not delegate correctly the tasks to be performed or the resources as such, that is why a team is needed to help with everything involved in a project to avoid these crises
Exactly, it is super necessary to have a ready and highly technical team that can help in the most complicated moments, this makes perfect sense and will help a lot.
One Crisis a founder can face is disagreements among his or her employees. One thing we all will admit to is anything that involves more than one person is bound to generate Crisis but then the best way to deal with such a crisis is by being a good Listener and observer.
You have to learn how to listen more than speaking more, that way it will help you spot the source of the crisis easily and eventually when the problem is know, there will surely be a solution.
Where there is more than one person involved, there will be disagreements. But these disagreements shouldn't lead to serious crisis. If they do, the leader has to step in, be objective and think about what is best for the business.
Well said
Today topic is just bringing back memories of time when I was studying administration.
There is an example like this in one of the text book. The CEO need to be a good listener and ask question. There might be two groups wanting dfferent
things but most time the minority group can be wrong or right. Also, he can resolve the crisis by requesting for feedback to a questionnaire set by him.
I do miss crisis management class
It’s not easy to solve a crisis for real
Interesting! So you are a bizadmin graduate, that's nice.
Thank you for your contribution
Pub admin graduate 😌😉
Okay 🤧😂
Hello everyone, nice to have everyone on the show. Join and learn more about from Breads show. @herculeand, @luchyl, @ngobaby and @mrchuks
and you didn't mention me
so sorry. Reason is that I saw you online. Those one are yet to wake for the show. You can help to contact them to join. I missed the last show before AMA before I did not know
Here already.
hey @sammyhive what is bread show?? unfortunely i don't know about it.. kindly tell me
It's a show hosted on X spaces where several topics on Web3 projects and blockchain are discussed. You have the opportunity to learn, ask questions and engagements.
Feel free to contact him on @breads
ooh.. that's great way of learning new project on web3 .... thankyou
Will join @bread soon
Attracting and retain skilled professionals by offering competitive compensation will help to face any Challenge
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250 words isn’t enough for me to express myself
Do it as a threadstorm, lol 😂
I no want
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Next month I promise I would
Starting my Jan with premium
In all, I think some crisis, when rightly managed, could make the project stronger and better. I remember the @inleoio bridge leaks that time and how the report led to a stronger and more -proof bridge.
After experiencing a crisis in our own business, we should deal with it by discussing it with everyone involved in the business or the project. I think any kind of trouble can be controlled by taking joint initiative.
No doubt the subsequent conversation has to go. You have to learn from what happened and make a plan to prevent it in the future. Some people are afraid of that conversation as it seems to them that they will just be looking for blame.
In view of that, we need to create an active and healthy community for our businesses. So that we can get the perfect solution to manage the crisis we face. An active community plays a vital role for a business.
Working together is capital to face crises, strategies that benefit the majority must be thought of, for therein lies the potential of a leader, if he/she is able to see beyond.
I think there is always going to be crisis, and any founder has to be ready at all time to face these crisis, have some money saved for crisis and always have the emergency team ready for action at all times
Getting the right team to solve a crisis is important in handling a crisis. Bringing different minds with different opinions laid out on the table could quickly solve the problem, but a thorough review must be made before implementing the solution.
Not everyone in the organization has to be involved on managing crisis, that will make the response to slow, but who takes decisions has to bet set up before something happens, even the loses that can be afforded have to be set up beforehand.
You are right. Collective initiative makes a task very easy. Moreover, if we have the opinion of others for crisis management, then the pressure on us will decrease. As a result, we can find the perfect solution very easily.
Yeah that is a great idea from them, I also do agree to that as well, but then sometimes we need to select the problem solvers among the team to deal with those problems and not just everyone in the team.
Mistake are not planned but simply occur without intention.Moreover, tend to occur at the most inopportune moment.u never want to expect failure, but ur project should be prepared for different types of crisis situations in case any happen
Great point! Salam. I think In handling any crisis, communication is key. Transparent and honest communication with employees, customers, and stakeholders builds trust and allows for a smoother resolution.
Wow what an awesome topic, I do love this topic when I was in school.
It's very important to manage crises which might threaten the operation of the organization.
While Web3 promises a decentralized and user-controlled future of the internet, it also introduces new challenges and potential crises. Like in crypto we can face some volatile move. So have to learn before using a Web3 platform.
Due diligence is the first step to take in crisis management. This is to fact check the true cause and origin of the crisis. This will help determine from what point to attack the crisis from.
Absolutely! the founder has to do their homework, like fact-checking where it all started and why. This way, they can figure out the best way to tackle the problem head-on. It's like finding the right starting point to fix things.
I feel crisis are inevitable and so whenever it happens, try to figure out what the problem is and assess the risk level. Then find a solution. Trust me, there is always a solution. You should know crisis management ain't magic, it's smarts
Yes, I imagine you have to be very smart to get behind a crisis and come out on top. Keep a cool head too, analyse without feelings getting in the way. You must be someone with a lot of emotional intelligence.
When it comes to business, crises can definitely be destructive. But the key to navigating through them is effective communication with your team and possessing the qualities of a good leader.Also, openly discussing the challenges will help
A business crisis brings awareness to the founder to know something about that area of issues and apparently, application of the solution.
Good expertise among your team members is just a perfect way to curb a crisis, so you have someone to run to, at least someone smarter and more experienced than you are.
exactly the way to go. The problem is some founders or rather managers would rather overlook the problem than calling up someone that can easily rectify the problem. For various reasons. I have been in that situation n4. A junior staff
Looking at Crisis management, I think the founder's role is very key. He gives direction and bears the weightier part of the burden of the project or business.
The founder's role is very key. Attention and direction will be required from him or her to give a solution to the crisis.
Question:
In crisis management, what role (for hire)in the team is most important for that?
I think it depends on the nature of crisis.
There are several roles for crisis management it depends on the nature of the crisis. There could be the general crisis manager that manage all crisis and also the decision makers that help in making suitable decisions during that time.
Then the communicators that could communicate during these problems. These people can communicate in crisis and understand things
Crisis can happen at anytime and there is always a solution for crisis and a strong leadership needs to be ensured. Moreover, need to Assemble a crisis management team to handle the situation. Also, a plan is need to be developed by them. Crisis management plan should be rooted with the philosophy & also the values of the organisation.
If we are the founder of our projects, we should be stay calm to handle the situation. We have to deal the crisis professionally not emotionally. We need to monitor your industry, market, and competitors to stay ahead of potential threats.
Yeah, there should be a protocol to follow, to know who does the calls when making fast decisions, some times there is no time to communicate to everyone so there has to be people authorized tho handle the things that can not be planned in advance. Then they have to report after the issue and explain everything
Exactly, every leader with his team must have an action plan to manage crises. Otherwise, he would be committing a serious failure and that would jeopardize the future of the project.
Good leadership helps with effective problem solving. Support, organization and other factors are essential. There will always be problems, the key is to solve them efficiently.
Something that can influence a crisis is emotions, you have to be prepared and have a risk management plan in case something goes wrong, raise the problem, listen to opinions and make the best decision, a good leader would do that.
Your words are very accurate 🤗. Strong leadership means that the project lead or project owner is willing to work together with his team. Crises are more manageable when those involved act for the common good 💫 It is the welfare of all.
To solve crisis you just need the right team to communicate with, if you have a conversation with the right team you get the problem solved. So In order to handle crisis just surround yourself with the right people. #communicate
A big way to go on this. Communication is a big key in solving any crisis that is showcased in businesses.Having the right team checking in with HR to detect changes in employees' behaviour is one way, with this problem can be managed.
Exactly. And look for good qualities when choosing team members. People with lots of experiences and won't panic in face of crisis.
Absolutely! Building a strong team with effective communication is pivotal in andresolving crises. Collaborating with the right individuals ensures a proactive approach to problem-solving, making the journey through challenges smoother.
Some crises could cause a breakdown in businesses, it could be the allocation of resources, financial issues, or communication issues. When this is done, prosperity can set in.
Mostly it is like this, it is unfortunate when they happen, it can even completely finish a company, there have been cases like this. And others of those who recover from it.
But with a pre planned crisis management can abort this from happening. The downfall would be stopped by the crisis management team. Because there is a solution for every problem and I think there’s nothing to be worried about.
I believe that transparency is necessary for everything to work properly and for the objectives to be achieved.
I also believe that decision-making should take place in a meeting, because everyone has to be part of the same growth.
Financial crises are usually constant when partners do not know how to communicate with each other and face the situation in the correct way. You must look for a team that is willing to face difficult situations and seek quick solutions.
@breads I believe that financial and operational crises are the most obvious and the most difficult to overcome, but with planning, preparation, communication, and transparency, these crises can be overcome and can even strengthen everyone
There is this topic in administration we did that has to do with crisis management. When we are dealing we crisis, there are theories to get the solution
Are there tools required to solve it
And lastly
If this steps are followed probably, there is no crisis that can’t be solved.
According to what we were
Perhaps one of the first things we could do when alarms sound is to determine if it is a false alarm. If we confirm it, we need to assess the risks, based on whether it is "important" or "urgent" or both.
It is always like this, sometimes it is difficult to analyze if it is true or false, it is always good to confirm if everything is right or not.
Yes, just like when the fire alarm sounds: is the house on fire or just the popcorn grandma is making?
Good point. While there can be various issues or concerns, some are more pressing than others so to avoid getting overwhelmed, assessing them would make us decide on which to solve first based on their urgency.
Yes, that's right. Some may be urgent because of the repercussions it could have, others because there is simply a deadline to be met. These are good factors to measure the issue.
Yes, that's true.
It's good to confirm if it's a false alarm, but in some situations it may be to late to confirm if it is false or not so I always prefer you save important files and properties first, before confirming if the alarm is true or false
I get the point. The legal part is very important and must be given its place.
No matter how good you are there will definitely be crisis and that doesn’t mean something is wrong with you or your organization because crisis are normal and handling them with wisdom in a civil manner is the ideal thing to do.
Indeed, well said. Some crisis have nothing to do with you as a founder or individual but will happen no matter what. It all depends on how well you as a founder handles the crisis. That is why it's very good to have the right people
Having the right people is just the goal because crisis is inevitable. It's doesn't matter how excellent one is or how good or bad the organisation is. What matters is how the crisis got resolved at last and with right people, it's easier
there are things that are inevitable in life. As far as you engage and relate with people in whatever field, there is bound to be crisis. How you manage that crises determines a lot on how well you take charge of situations.
A leader must have certain characteristics to perform his or her job, otherwise the project is prone to fail. The important thing is how he manages each situation and gets out of crises well, because many situations can be overcome.
Exactly. You couldn't have said it better
The skill to handle crisis is very important for founders and businesses owners. The first thing is to use the right words to calm things down and don't get pressured to solve the problem quickly but take time with serious thinking and consideration to solve the problem.
yeah you are very correct bro
Skills required are key, not being panic when issues came up, just provide am amazing solution.
That is right bro, I guess this is another skill founders / leaders need to possess. Being quick to act without properly thinking about what the outcome of your action is wouldn't be wise to handle a crisis. It's good to take a sec to think
Founders have to build a patience mentality when crisis arise because it not easy to stay sane when it seems things are falling apart, because not only could the project get destroyed completely but the founder could breake down at that period and loss their mind.
That's true. It's amazing what 5 minutes of patience can solve. Overreacting only makes things worse
It is true that business owners must have the ability to manage times of crisis. You have to have a cool mind and calmly analyze the problem and see how to solve it in the shortest time but always analyzing everything necessary.
Analysing the problem with a trusted team would enhance quick solution to the problem, but the founder has to be careful not to rush things because it could backfired.
I've had financial Crisis I'm business. Lost some big money in my first 2 years in business. I was all very new in the business sphere and within 24 months, I lost about $2k. It was a big money then.
It's common knowledge that some projects may not turn out the way it was planned at first and in cases of crisis management, I think one of the effective way of managing crisis is effective communication.
The key to success in addition to effective communication are the plans, we must always keep in mind the pros and cons, things that we do not want to happen in times of crisis, we must keep them in mind to be prepared...
MO: Money problems can be incredibly stressful-Possible team conflicts-product not performing as expected-A burnout-legal issues-Health challenges.Crises are part of the journey,so embrace it,acknowledge emotions & seek support when needed.
I think that financial problems in projects are a factor that will always be there, here the point is how to solve it as a team and to reach a mutual agreement so as not to let the project die would be the main thing.
Absolutely, spot on Cieliss🔥
Involving your team to find solutions is a great approach, see it as a cooperate problem rather than an individual problem.
Answering to your question @Bread I think when those things are happening you just have to stay calm. It is difficult but you need to stay calm and try to understand what’s going on and think of ways to manage what is going on
This requires several competencies. In fact it was something that was discussed in a previous space. Keeping calm is difficult, but a good, well-trained leader can do it. But he needs first of all, be a leader, not just a boss.
I agree with you! When life throws challenges your way, it's important to stay calm, keep your head in the game, and stay focused on your goals. Remember, setbacks are just temporary roadblocks on the path to success.
There is no single way to solve a crisis. Everything depends on the context in which the project is immersed and the characteristics of the people involved.
Crises management to start with means they had been a failure in one sector or another, to manage this, one need to stay calm, take your time to monitor the situation,this helps not to jump into conclusion or panic into causing more damage.
Taking time to assess the problem and providing solutions is important because rushing to create a solution could make the problem worse because of poor evaluation.
That's exactly my point and definitely a way to go, we must be willing to not rush into conclusion, so as to not add to the ongoing crisis
When we talk about crisis management, we mean crisis within the organization which is within the domain of the organization and those outside the organization(external factors)
Examples are natural disaster, work place violence etc
Our brains tend to focus on negative things, so during a crisis, it's normal for negative thoughts to take over. For this reason, you need to have a little knowledge of neuroscience or psychology to be able to manage them.
haha I like this
crisis can come up from technical issues, the Boss, poeple etc. But it's best to remain calm and figure out things knowing that some crisis can be managed or avoided happening again. How to improve should be the main focus
This is an cool topic to explore especially for people that are running a project in Web3. Things can go wrong from several places. It can be people related, tech related, tokenomics
I look forward to every discussion that will unfold here