The finish line is in sight. So much of this COVID-19 nightmare is behind us and we’re in the homestretch now. Leaders who maintain hope and finish the job of shepherding their companies to the next upturn will look back with pride and the value of their company will have grown. I’m not saying COVID-19 is over. There is still much work to be done and it’s not clear how fast the virus− and the fear and headache it is causing− will recede. But recede it will; we know that now. Leaders must pace themselves, their team and everyone’s mindset so their people can endure, and their companies can thrive despite the pandemic. Before I detail what leaders must do, let’s look back on what we’ve overcome.

When the virus hit, fear, uncertainty and doubt was everywhere. The stock market crashed, but then it recovered. Many workplaces and projects stopped, but then restarted, and most firms in our industry are running quite well remotely. By the end of 2020, many grew in both revenues and profits. We know vaccines are possible now and they are rolling out. We know how COVID-19 spreads and how to limit its impact. The cost to human life has been terrible and the economy has taken a hit, but our job as leaders isn’t to feel bad about the past, it’s to make the most of the future. We are so far ahead of where we were a year ago and AE businesses are, by and large, still strong. Be thankful. We’re well positioned to take our companies over the finish line, so be mindful of a few critical priorities.

Redouble your efforts to keep everyone in your workplace safe, enforcing strict COVID-19 precautions. This is more important now than ever. We want our people to be healthy for their sake and we want them productive and healthy for the business’s sake.

Company leaders must support the human, emotional needs of their team. Of course, the leaders are tired and have emotions as well, but they must dig deep and work to encourage, buoy, empathize and cheer on those they lead. But it’s not all up to company leaders. Great team members support each other as well, so encourage your people to be good to each other. Consider the example of BSC Group, a New England engineering firm led by CEO Sean O’Brien, PE, a regular attender at ROG’s annual conference in Naples, FL. His team launched a diversity and inclusion effort in late 2019 and they stayed focused on it through the pandemic. One of the most popular affinity groups is for parents with young children who all support each other as they navigate home schooling during work hours. 

Hateful as COVID-19 is, it has forced us to try new approaches like remote working, remote leadership, selling without traveling and video everything. Make sure your firm gets really good at these new skills. Many of them are more effective than anyone thought and some will become your competitive edge. COVID-19 will be defeated, but it may linger at low levels for longer than we want. The more you make your business immune to this virus, the more you will ensure the health of your business in all environments. For example, salespeople who have learned to connect with prospects and clients via video will be able to optimize their time post-COVID-19, traveling less and only when warranted. Their productivity will dwarf those who never adapted to the new approaches. Finish learning the new competencies the pandemic forced on us.  

Lastly, we must anticipate what will happen when herd immunity is achieved and fear and health risks become minor again. Will demand for your services go up or down? Will your introverts want to rush back to the workplace or maybe you’ll cut your rent in half and let them stay home? Will travel expenses jump back up? The post COVID-19 world is close enough that we must plan for it now. COVID-19’s arrival surely was a surprise, but its departure will not be. Plan powerfully.

While profits and cash flow are good short-term indicators of health, the best measure of how you lead your company through this pandemic is your valuation. Boomers and older Gen Xers may choose to make this pandemic the last downturn of their career and a strong valuation will set them up for a lucrative exit at the end of the pandemic. Other leaders who are ready to climb during the coming upturn will want to know the drivers of value so they can build their war chests and acquire those firms who lost their way.

In closing, perhaps most important is that each leader maintains their health and stamina. The organization looks to you to lead and if you can’t make it to the finish line, they won’t either. Eat right, sleep well, exercise, keep your family close and stay mentally ready to lead across the finish line and beyond.