1851

As states begin to reopen and businesses once again welcome customers through their doors, there’s a sense of hope and optimism surrounding the end of the COVID-19 pandemic. However, while the global economy is still in the midst of a crisis, it’s more important than ever for leadership teams to have a strong pathway to recovery.Peter Hayes, principal and co-director of <a href="https://www.chiefoutsiders.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-business-leaders-should-guide-recovery-right-now-2713125" target="_blank" rel="nofollow">Chief Outsiders</a>, a company that helps brands’ executive teams move their businesses forward through insights, strategies and execution, has had a lot of experience guiding leaders in times of need. Now, that need is at an all-time high as businesses are fighting to come out on the other side of the pandemic. Despite the challenges being faced now, Hayes notes that most leaders are positive about the future.“We’ve done our own benchmarking as to what’s going on by taking a look at the 100-plus clients we’re working with right now,” Hayes said. “Most of them have been hit negatively, but are confident that they’ll be stronger than ever on the other side of the crisis. We’re expecting that we’ll see the same recessionary trend to last through Q2, and then things will come back. We’re very bullish when it comes to plans for the rest of the year after summertime.”In order to guide their businesses to recovery and navigate the COVID-19 crisis, Hayes recommends that brands rethink their plans to cut back on spending and marketing during this time.“Many people immediately turned everything off when COVID-19 began. Now, they’re starting to get more aggressive and they’re realizing that this is the time to show up with relevant offerings,” said Hayes. “Take the restaurant space — just because you have takeout doesn’t mean that people know you’re open or know you have specials. We’re seeing a lot of brands quickly adjust and try promotional offerings they haven’t done before, and consumers need to be made aware. We’ve shared with our clients that it’s the ones who are bold in downturns that ultimately benefit.”In order for brands to recover and emerge stronger than they were before COVID-19, it’s also critical to think outside of immediate needs and next steps. What will make or break brands is their long-term game plans.Mike Goldman, business coach, speaker and author of the soon to be released book, “<a href="https://www.mike-goldman.com/right-people-right-execution-ebook/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-business-leaders-should-guide-recovery-right-now-2713125" target="_blank" rel="nofollow">Breakthrough Leadership Team: Strengthening the Heart and Soul of Your Company</a>,” said, “Right now, what I’m finding is that the companies that are reacting well to this are picking their heads up from their plans for the next day, week or month. They’re now looking at mid- and long-term plans again.”Hayes agrees that success will be dependent on planning for the long-term, noting that it’s time for new plans to be implemented in a short amount of time.“Business owners need to have a plan and not just wait for the economy to lift their company out of the crisis,” said Hayes. “Be opportunistic in a healthy way, not in a way that takes advantage of the situation. Now is the time to plan so you can go further. The thing that a lot of people don’t read about is the fact that some businesses aren’t going to survive this. Still, the economy will come roaring back. Those that are out in front will be more visible and aligned with the new wants and needs of consumers. So our advice right now is to make a long-term strategic plan — along the lines of those that are typically done in Q4 — and be ready to implement it in a few weeks.”

How Business Leaders Should Guide Recovery Right Now

1851 Franchise

There’s still no end date in sight for the COVID-19 crisis, and leaders to implement long-term plans for recovery.

how-business-leaders-should-guide-recovery-right-now

Onigilly Japanese Kitchen

Unlocking the Potential: How Much Can You Earn as an Onigilly Franchisee?

unlocking-the-potential-how-much-can-you-earn-as-an-onigilly-franchisee

Filta Environmental Kitchen Solutions

DeWitts Ignite New Chapter for Filta Environmental Kitchen Solutions in Reno 

Grease, Grit, and Growth: DeWitts Ignite New Chapter for Filta Environmental Kitchen Solutions in Reno, Nevada

grease-grit-and-growth-dewitts-ignite-new-chapter-for-filta-environmental-kitchen-solutions-in-reno-nevada

Layne's Chicken Fingers

Layne's Chicken Fingers-50 Unit-Wendy's-Franchisee-June-2025

Why This 50 Unit Wendy’s Franchisee Is Betting on Layne’s for His Next Big Move

wendys-franchisee-expands-with-laynes-chicken-fingers-texas

CapitalSpring

CapitalSpring’s Jim Balis Talks Growth, ROI and the Future of Fast Casual on “Rock My Restaurant”

capitalsprings-jim-balis-talks-growth-roi-and-the-future-of-fast-casual-on-rock-my-restaurant

Children's Lighthouse

Children’s Lighthouse Ramps Up Growth in First Half of 2025 With Strategic Expansions, Franchise Signings, and New Headquarters

childrens-lighthouse-ramps-up-growth-in-first-half-of-2025-with-strategic-expansions-franchise-signings-and-new-headquarters

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

What June’s Jobs Report Means for the Franchise Industry

what-junes-jobs-report-means-for-the-franchise-industry

Drone Delivery Takes Flight in QSR: The Future of Franchise Operations?

drone-delivery-takes-flight-in-qsr-the-future-of-franchise-operations

Chick-fil-A Tops Customer Satisfaction Rankings for 11th Year as Challenger Brands Gain Ground

chick-fil-a-tops-customer-satisfaction-rankings-for-11th-year-as-challenger-brands-gain-ground

Technomic Releases Annual Ranking of the Top 15 Fast-Food Chains in the U.S.

technomic-releases-annual-ranking-of-the-top-15-fast-food-chains-in-the-us

Rising Jobless Claims Could Signal Challenges — and Opportunities — for Franchising

rising-jobless-claims-affect-franchising

The Ultimate Guide to Selling Franchises: How To Create a Strong Incentive

how-to-build-strong-incentives-to-attract-prospective-franchisees

Top 25 Franchise Marketing Leaders: Kelsey McManemin — Vice President of Marketing, HTeaO

top-25-franchise-marketing-leaders-kelsey-mcmanemin-vice-president-of-marketing-hteao

Photo of a large group of people standing in a circle, placing hands together in center

Franchise Opportunities for Minorities: Expanding the Franchise Network

franchise-opportunities-for-minorities

Amanda Evans - Stellar Service Brands - Franchise Marketing Leaders 2025 - 1851 Franchise

Top 25 Franchise Marketing Leaders: Amanda Evans — Senior Vice President of Marketing, Stellar Service Brands

stellar-service-brands-marketing-leader-amanda-evans

How Vishal Juneja Turned a Family Tradition Into a Paris Baguette Franchise

How Vishal Juneja Turned a Family Tradition Into a Paris Baguette Franchise Built on Heart and Community

paris-baguette-franchise-rockaway-new-jersey-vishal-junjea

Franchisee spotlight graphic with photo of Ricki Oberoi and Layne's Chicken Fingers logo

Multi-Unit Wendy’s Operator Signs 12-Unit Deal With Layne’s Chicken Fingers

ricki-oberoi-laynes-chicken-fingers-growth

Franchisee spotlight graphic with photos of Danielle Rosemond & Usman Khan & TruBlue logo

Family Members of Local Physicians Bring TruBlue Franchise to North Central Nassau, Long Island: A Health Care-Inspired Approach to Aging in Place

family-brings-trublue-franchise-to-north-central-nassau

How This Franchise Consultant Turned a Love for Dogs Into a Business with Dog Training Elite

How This Franchise Consultant Turned a Lifelong Love for Dogs Into a Growing Business with Dog Training Elite

how-this-franchise-consultant-turned-a-lifelong-love-for-dogs-into-a-growing-business-with-dog-training-elite

How Business Leaders Should Guide Recovery Right Now

MORE STORIES LIKE THIS