For now, its 360 Bed Bath & Beyond stores and its 120 Buy Buy Baby stores as well as its websites will remain open to serve customers. District Court in New Jersey and said it will start an orderly wind down of its operations including eventually closing its stores, while seeking a buyer for all or some of its businesses. The beleaguered home goods chain made the filing Sunday in U.S. But whatever it is, you need to be ready.įorbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms.NEW YORK - Bed Bath & Beyond - one of the original big box retailers - has filed for bankruptcy protection, following years of dismal sales and losses and numerous failed turnaround plans. What’s your drill for the rest of this year? The unexpected is possibly your new code red or nuclear explosion. When I was a kid we hid under our desks for bomb drills. Schools and hospitals have code red drills. I believe the safest place to be right now is in the private markets. Investors have seen how insulated tech companies - especially enterprise software-as-a-service (SaaS) ones - have been in recent months. The limited partners of my fund today are seeing more clearly than ever the benefits of having allocated some of their net worth to venture capital, as the liquid markets and other segments of their portfolio continue to take hits. My investors’ expectations of me are also wide awake. Money doesn’t sleep, and neither does this global pandemic. We are all human, but don’t lose control of the wheel and skid off-track. What matters most cannot be at mercy at what matters least. I can’t just throw my hands up in the air and give up. At this moment, I have 131 unread text messages and 3,016 unread emails. It’s a KPI dashboard, and to see our portfolio companies’ health, we need to know everything that’s going on. We have proprietary information we have built over the years to keep us up to date, connected and informed. This is not the time to fault someone for something out of their control. There’s going to be vacuums, traffic and street noise. On Zoom, kids are going to be running around in the background. People are going to be on edge, and they might do things that would normally bother you. But everybody will remember what you did or didn’t do, said or didn’t say when times were bad. People won’t always remember what you did when things were good. And because of that, I don’t need to know where they are or what they are doing every hour of the workday.Īs a leader, the pandemic is a defining moment, and how you manage it is going to define your leadership legacy. But we have an understanding about this work schedule. These kinds of routines help retain normalcy and efficiency. The moment I realized we’d be separating from our teams for a while, I put routines in place: standing meetings, calls and check-ins. And for remote managers, the single most important advice I can give is to keep a routine. I’ve been “working remotely” for decades, and previous roles included overseeing divisions in the southeastern United States, Latin America and the Carribean, so I’ve had tremendous amounts of experience managing teams in different places.
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