The pandemic taught us something brutal about leadership: sometimes, the world changes overnight, and you don’t get a playbook.
Chris Grosso, now CEO of Intersection, had one of those moments. His company sells out-of-home advertising — subways, bus shelters, street kiosks. In February 2020, the business was surging. By mid-March, the world went indoors and revenue fell 75%.
What do you do when your entire business model collapses in two weeks?
Chris and his team built a wartime plan. They froze capex. They cut salaries. They renegotiated dozens of contracts with transit authorities and vendors. They communicated constantly with employees and investors. And they found one product they could still sell: ads on buses, the only format still moving through neighborhoods.
The lesson isn’t just about grit. It’s about communication and contingency planning. Chris laid out 17 cash levers. Some were immediate, some were “break glass.” Within weeks, the glass was shattered, but the levers were there to pull. Weekly all-hands with unvarnished updates helped keep employees aligned. Transparency with investors kept trust intact.
And yet, he admits a mistake: cutting staff too slowly, and having to do it twice. Multiple rounds of layoffs scar a company in ways that take years to heal.
The takeaway for CEOs is simple:
Communicate more than you think you need to.
Build a contingency plan before you need it.
If cuts are required, do them once and deep.
Covid was a crisis unlike any other, but the lessons are evergreen. You don’t get to control the crisis. You only get to control how you lead through it.
Thanks for reading. If you’re a CEO or senior leader navigating hard decisions, you’re not alone. These stories are here to help.
✍️ I write about leadership, clarity, and RealTalk™
🎧 I coach high-growth CEOs and host the Critical Moments podcast
💌 Subscribe to get future posts delivered to your inbox: blog.markjosephson.net
#CEO #Leadership #Startups #CrisisManagement #CriticalMoments
Share this post