As COVID-19 rocks the promotional products industry, we’re all finding ourselves in uncharted, turbulent waters. Shawn Rhodes has made it his life’s work to study teams who found ways to survive – and even thrive – in the most challenging and dangerous environments on the planet.

Shawn Rhodes

Rhodes, a TEDx speaker, author and former war correspondent, recently conducted a webinar for ASI University on how companies can get through the coronavirus pandemic. Despite how confident business leaders were in the midst of the previously thriving economy, the pandemic has exposed how unprepared companies were for immediate change. Rhodes explained how to develop contingency plans for multiple scenarios, both in the short-term and down the line.

“I never saw a team that did well when they had to invent in the middle of a crisis,” Rhodes said.

Rhodes stressed that it’s still possible to generate profit in the middle of a crisis, as evidenced by the rise of PPE. “Take a new look at priorities, goals and initiatives,” he said. “You have to adapt to what the market needs today.” Companies must assess threats, both controllable (unreliable supplier/distributor partners, workforce costs) and uncontrollable (social distancing regulations, government-mandates, client event cancellations). Then, they must determine what is the minimum it takes to keep a company alive for as long as possible given the resources available.

“Failure becomes inevitable the moment it is embraced as a possibility,” Rhodes said.

Evaluating workforce composition is also vital during the pandemic. Rhodes suggests identifying top talent – the people needed to accomplish the objective – and make every effort to retain them. “If there’s no more money to offer,” Rhodes said, “ask what they need professionally and personally and figure out who in your network can provide a solution.”

To watch the entire webinar with Rhodes, click here or watch below: