Featuring David Seinker
“When crisis strikes, lead with humanity” – Unknown.
Crisis demands leaders to take up the role of a hero in the sense that they must respond to
an emergency with a strategic plan. Speaking to the CEO of The Business Exchange, David
Seinker, he shares how leadership looks like for him and his business during this time.
“I am an entrepreneur like everyone else,” David says. Anyone starting a business now will
have to be aware of the current conditions and adapt accordingly. Timing and execution are
a significant success factor in business, and in times like this, we need to be cautious of any
strategic plans we put in place.
“Success is about continuously improving and always striving to reach the greater goal”-
There are business fundamentals and business factors we have to be aware of and working
on. If it was relevant before, it is more relevant now.
Cash flow management. You got to be realistic in your business revenue. You got to
understand your costs. You got to understand your VAT. You got to understand all the taxes
you have pay because if you don’t account for that, it can throw off your profit margins.
Choosing your partners is very important. Don’t get into bed with people who are not going
to compliment your culture. There won’t be synergy. Yes, they might give you the money
upfront and open doors for you, but it might be a bad relationship – after 2-3 years you’ll
hate it and it will be a nightmare for both your business and employees.
Mentorship is valuable. And more importantly so when you are starting out. Getting
counsel from people who have been doing business for a long time can be valuable for your
business. Having people to bounce some ideas to who have been there and done that is
critical because they can impart their knowledge to you.
How important is failure in your journey? We learn by making mistakes. All lessons learned
can get stuck with you. Having the right partners on board will make sure that you don’t
have to fail. If you do fail, however, fail quickly and move from it. Everyone makes mistakes,
but it’s how we deal with it that actually counts.
Always take precautions and look for opportunities.