MD: Genesis Corporate Solutions
One of the biggest issues we find with financial distress is that navigating out of it can be arduous. While control of the company is left to BRPs during the implementation of the business rescue plan, they still have to equip executives and other company leaders with the skills to manage the company in a way that it remains profitable.
Executives and managers often feel overwhelmed by distress and do not know how to cope with challenges that accumulate like a pressure cooker. I recently read an article on the Harvard Business Review (HBR) website discussing coping mechanisms in more detail. Focus on what matters first, then how it fits into the big picture second. Prioritise actions within your response.
What goals do you discuss with your boss?
The HBR article points out that this question reveals what impacts your manager’s performance reviews, bonuses, and career trajectory. Which metrics do they mention first? Do any differ from what you typically track? Notice if they dive into a specific calculation or become enthusiastic about certain figures. You can use this insight to present your work in ways that matter to senior leadership, making it easier to get resources and recognition for your team.
What keeps you up at night when thinking about our team or projects?
Unlike asking about general challenges, which often gets you a canned response, asking this question tends to elicit a more candid answer.
It invites vulnerability in a way that builds trust and creates an opportunity to help solve issues. You might flag risks earlier, suggest process improvements, or take work off their plate in stressful areas, turning you into a trusted advisor who helps them sleep better at night.
What actions or changes would allow you to look back in 90 days and say “Wow, that really made a difference?”
The article adds that the timeframe is key. Ninety days is long enough to accomplish something meaningful, but short enough to feel tangible and specific.
If your boss gives a vague answer like “refine our strategy,” ask, “What’s one change we could make to our roadmap that would have the biggest impact by the end of the quarter?” If they’re still unclear, offer a binary: “Would you be more impressed if we doubled our enterprise clients or increased revenue per customer by 40%?”
What do you wish you had more time to work on?
This question uncovers what matters to your manager but keeps getting pushed aside by urgent tasks. Maybe they wish they had more time to create documentation, build relationships with another team, or analyze customer feedback. The HBR article points out that you need to try to find a win-win — a way your boss can reclaim time while you get a growth opportunity. You might suggest: “I know you want to focus on planning next year’s conference. Why don’t I run our team meetings for the next few weeks to help you create space to do that?” or “I’d love to work with the board more closely. I could prepare our department updates so you can work on the budget they asked for.”
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What does good performance look like? Great performance?
Let your boss lay out “good” expectations without jumping in. Then pause and say, “Thank you. That’s helpful. Now tell me — what does great performance look like?”
That pause and emphasis often leads to a discussion about how to exceed expectations and reveals what really matters beyond technical skills. Your boss might start talking about how great performers navigate office politics or explain complex issues to non-experts.
What emerging trends should we be mindful of and potentially capitalise on?
Your manager has conversations you’re not privy to about internal shifts, industry changes, and executive concerns.
They sit in closed-door meetings, see financial projections early, and hear market threats months before they go public. The article adds that their answer gives you a sneak peek into what might shape their motivation and choices in the weeks and months to come. When shifts happen, you’ll understand why and be ready to adapt.
Can you help me understand how [project or task] compares to other tasks on my plate?
This question tells you a lot about your manager’s decision-making process, including why certain priorities rise to the top while others get put on the back burner. When you need to set boundaries, you can reflect their own logic back to them. Instead of simply saying, “I’m at capacity,” you can say, “You mentioned the product launch should be our main focus, which means I’ll need to deprioritize [new request] to give it the attention it deserves.” Plus, you’re making them aware of your bandwidth without sounding like you’re complaining.
Pay attention to what your boss doesn’t say as well. Notice which topics they get excited about, they hesitate to discuss, and when their tone shifts. Observation is often just as important as inquiry.
Back to basics
Many of you will reflect on the abovementioned information and feel it is common sense or a simple act of leaders returning to basics.
It is. Companies that go through the business rescue or business turnaround are often reinvented (a topic GCS covered previously); however, business leadership and management are not.
When boards find themselves in financial distress and receive vociferous calls from shareholders about finding value, it is often difficult to remove themselves from the situation and assess the landscape objectively. A person who needs help usually needs advice from a party that is removed from the situation to provide objective insight; this may mean returning to basics and leaning on the training and skill set you have accumulated through the years. Let someone help you press the reset button.
