How Business Crisis Management Strategies Can Save Your Company from Hidden Risks and Unlock Long-Term Growth In this episode of our podcast, we dive deep into Business Crisis Management Strategies with seasoned entrepreneur and business advisor, Corey Smith. Corey shares candid insights from his own experience navigating the highs and lows of business, including the unexpected “valleys” that can threaten survival—and how to spot trouble before it’s too late. From the outset, Corey reminds us that no business is immune to challenges. Whether it’s market shifts, financial setbacks, or leadership struggles, problems can escalate quickly if leaders aren’t actively scanning for early warning signs. The conversation kicks off with Corey’s personal account of a significant business downturn that tested his resilience, leadership, and decision-making skills. One of the core themes of the discussion is identifying hidden risks that quietly undermine growth. Corey outlines common “cracks” in organizations—from unclear roles to leadership blind spots—and offers practical tools for detecting and addressing them early. He emphasizes the value of strategic planning, not just as a one-time exercise, but as an ongoing discipline that keeps leaders and teams aligned on long-term goals. Listeners will gain actionable advice on transitioning from “survival mode” to a proactive growth mindset. Corey’s approach involves asking better questions—starting with the simple yet powerful “Maybe we can…”—to reframe challenges as opportunities. This mindset shift, combined with a willingness to adapt and learn, is at the heart of sustainable business success. The episode also tackles the human side of crisis management. Corey shares how collaboration with other business owners, receiving tough love, and maintaining personal well-being all contribute to effective leadership during turbulent times. He reflects on the importance of having a trusted peer network to provide perspective and challenge assumptions. For leaders wondering how to justify the cost of strategic planning, Corey offers compelling evidence: the investment often pays for itself many times over by preventing costly mistakes and ensuring teams are pulling in the same direction. He introduces his own strategic planning process, which helps organizations break down ambitious visions into practical, actionable steps. By the end of the episode, you’ll come away with a renewed understanding of why business crisis management strategies are not just about reacting to problems—they’re about building systems, cultures, and mindsets that make businesses stronger and more adaptable. Corey’s stories and advice serve as a blueprint for leaders determined to not just survive, but thrive, no matter what challenges come their way. Show Notes: 2:15 - Intro to Corey 7:45 - A significant business ‘valley’ 11:45 - How to get through survival mode when things are going pear-shaped in business? 20:35 - The value of asking: “Maybe we can…” 27:30 - What are the patterns for cracks that show up in a business? 30:27 - What is Corey’s strat planning process? 35:20 - How do you justify the cost of strat planning? 37:15 - How do you get your own mindset ‘right’ in the valleys of business? 41:35 - “We lift people up!” 43:15 - The value of tough love from other business owners 45:35 - “My dog can’t help me build my business” Episode Resources & Links RAM Elevators & Lift: https://trustram.com Corey's LinkedIn: https://www.linkedin.com/in/corey-smith-66333a84/?originalSubdomain=ca Connect with TRAITS: 🔗 Connect with us on LinkedIn 📸 Follow us on Instagram 📰 Read our BLOG 📩 Sign up to our Newsletter

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