COMMUNICATE, not once, but REPEATEDLY.
One of the most challenging periods for businesses is inflation.
When confronted with such a situation, leaders and CEOs must be ready to face it through communication and honesty.
We must face reality and assist the team by communicating without filtering.
Cost-cutting is needed, but as a leader, transparency is also essential.
Be clear about the situation, acknowledge that inflation will affect your business, base your strategy on it, communicate it and reassure the team.