Business: Left Unattended

Analysis By: Zohair Mirza

Link: https://www.wsj.com/articles/what-happens-when-entrepreneurs-go-on-vacationand-a-crisis-hits-11556503620?mod=searchresults&page=1&pos=18


As an entrepreneur, the kinds of risks you may face with your absence can be devastating. These came close to devastation but lived to tell the story. Some fables for our business owners:


 Stuck On the Slopes
Michael Dweck, an offer recipient from "Shark Tank", takes a vacation in Vail, Colorado. Needless to say, things go wrong on the Back Bowls. In between, gaining and losing reception, he learns that their card has been suspended due to 'suspected fraud'. After the offer on the show, the undergarments company had an influx of orders which meant more supplies were needed. After facing rough weather and hiking for almost an hour in harsh conditions he reaches a safe spot to connect with his business.

His dedication to maintaining his brand and to not disappoint the customers lead him to be able to manage this crisis.

A Run Through the Jungle
Zachary Weiner, a marketing agency owner, went on a trip to the rainforests of Colombia to celebrate the 2nd anniversary of his company, Emerging Insider Communications. The company lands a big client and while he's on the trip he learns that his account manager has resigned effective immediately.  After staying in a lodge with no power and no way to contact his company he decides to take a risky trip to the city to gain contact. Slipping through the mud and drowning in floodwaters he manages to find a person who decides to take him to the closest city, Santa Marta. He checks into a hotel, fires up the computer and apologizes to the client. He dodged a bullet.

A lot of businesses that are out there are surviving because of the reputation that they have maintained and these businesses understand that this marketing built on trust and promise delivery is what brings them business and retains their existing clientele.

Putting Out an S.O.S.
Mehri Babayeva, CEO of a women's designer company, was enjoying a peaceful vacation in the Mediterranean sea and soon she learns that her production manager's father had passed away for which they had to leave immediately. To make things worse, there was an order of 180 items that were not being produced due to some problems. Trying to contact the company from the middle of the sea was impossible and to get back to the shore was impossible at that time. After contacting another captain from the radio and having him call the production manager was successful Mehri was able to authorize another production run. As soon as she reached the shore she was able to connect with the clients and compensate for their orders lateness.

These stories tell us how important brand management and business-customer relationship really is. How a lot of brands lose right where brand management comes in. Your self-branding as a CEO is also a factor as to whether your company with sink or swim (pun intended).