Mark Cuban has emerged as one of the most influential voices during the coronavirus crisis. Not only is he making sure employees get paid in the wake of canceled NBA games and working with the Dallas Mavericks Foundation to support area nonprofits and healthcare workers, but he also is doing national media interviews and informing his vast social media following about government assistance programs and leadership strategies. We asked him to share his advice for Dallas-Fort Worth executives; here’s what he recommends:
- Communicate with employees, customers, and all stakeholders. Everyone is scared. The more you communicate, the greater the understanding of each other’s circumstances you will have. This will pay off on the other side. People will value those who connected with them.
- Be transparent. No one wants to be lied to during an emergency. You can’t tell your employees and customers that all is well when you know it isn’t.
- Listen. Your employees have the closest connection to their fellow employees and your customers. They talk to each other far more than you do. When you are open and honest in communicating with them, they may come up with solutions that help you turn the corner.
- Remember that perfection is the enemy of success. We are all dealing with imperfect information. We don’t know how or when things will end. Don’t let it paralyze you. Be willing to make the best decisions you can, communicate those decisions as honestly and directly as you can, and explain why you think this is the best way to go. No one is expecting perfection; they are expecting leadership.