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., Blakely shared four things Spanx is doing to get through the coronavirus crisis.
"Spanx is deeply affected, like so many other businesses. We are in the retail space, which obviously has had an enormous impact," she said.Zero-based budgeting This approach has helped the company weather disruptions in the past, and Blakely turned to it once more when this crisis hit.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.Blakely said her first thought when the health crisis started was how to keep her team safe and connected, which involved a major push toward remote work.
"This is a fantastic time to build culture and to show your people that you care," she said. "People are going to remember in times like this who showed up who did something for them.""People are hurting and scared," Blakely said. "People don't want to feel like they're just being sold to. They want to feel like you're there for them.
Even though Spanx is a global brand and a household name, Blakely says she still runs the company like a small business and that she's no stranger to getting good results with lean financing.
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