Spanx founder and CEO Sara Blakely needed a change of scenery, so she and her family bought a 35-foot RV to explore the quieter corners of Florida.
In a conversation with LinkedIn’s This is Working podcast, Blakely shared four things Spanx is doing to get through the coronavirus crisis.
In moments of challenge, she says, “the ones who make it are the people who take obstacles and turn them into opportunities.”
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The disruption caused by the coronavirus pandemic has many people working remotely, but Spanx founder and CEO Sara Blakely is taking it a good distance further.
“We decided that quarantining with four children under the age of 10 in a home just wasn’t enough,” she told LinkedIn’s Dan Roth. “We had to take it up a notch.”
Blakely and her husband Jesse Itzler — himself an entrepreneur as well — needed a change of scenery, so they bought a 35-foot RV to escape their home city of Atlanta and explore the quieter corners of Florida.
“We don’t even have super set plans. We kind of just got in,” she said.
A post shared by Sara Blakely (@sarablakely) on
May 1, 2020 at 5:36am PDT
Even on the road however, Blakely remains involved in her company during this unprecedented time.
“Spanx is deeply affected, like so many other businesses. We are in the retail space, which obviously has had an enormous impact,” she said.
Blakely shared four things Spanx does, which are helping the business get through the crisis.
When setting your budget for the upcoming year, it may seem natural to simply look at what you spent last year. But that’s not how Blakely runs Spanx.
“Every year the budget starts at zero,” she said. “Each leader in the organization has to make a case for the money being spent.”
This approach has helped the company weather disruptions in the past, and Blakely turned to it once more when this crisis hit.
“We regrouped as a leadership team and each leader redid the budget with the new normal,” she said.
The new financial targets are more fluid than in normal periods, and the team revisits them every few weeks to make sure they’re still appropriate.
Prioritizing culture and communication
Blakely said her first thought when the health crisis started was how to keep her team …read more
Source:: Business Insider