And yet again, I missed the live show for the bread space about **Crisis Management and You** || Behind the Bag Ep. 19 because of my very busy schedule but since there's a recording on the space, I don't think everything is lost as I have carefully listened to the show. 


Breads left a mind-blowing question which says; What role is the most important in dealing or managing crisis?

Many speakers left their own opinion and Jeremy Horn suggested that it is very important to have someone smarter than you in a team to curb a crisis when it arises. 

 https://i.imgur.com/6l1nSCI.png 





From the knowledge I gathered on the space, I've learned the difference between a good and bad example of crisis management especially in the crypto space and today I want to share with you a good example of crisis management in the crypto space.  


 https://i.imgur.com/0w8t5vq.jpg 




Since the blockchain is quite an upcoming technology. There have been cases of people trying to hack into people's accounts by sending them malicious links, there have also been cases of scams, people put up fake accounts to scam others and there have been cases of thread cast crashing because of a lack of proper nodes to make it survive. This has made public trust in crypto already fragile and due to this fact, minor issues can quickly create panic and lead to a crisis if not curbed immediately.

This is why I would love to talk about a good example of Crisis management in response to the scenarios I created.

 https://i.imgur.com/1e2G9Bn.jpg 

**Good example of crisis management in the crypto space**


 A good example of crisis management in the crypto space is communication plays a vital role in curbing crises, It is important to gather all the information before knowing the next step to take and this all boils down to having a good team around, which will foster an easy flow of communication.  This will make it easy to track the problem on time and solve it before it causes a lot of damage, this too can also be done by informing holders to avoid clicking on malicious links which might make them lose their keys to hackers.

Maintaining transparency during the crisis in the crypto space is truly important as it builds trust between the founder and the holders thereby winning more customers or audience



It's also important not to expect too much as this often leads to disappointment and then figure out what potential risks are so that one can be prepared to curb them.  Crypto has a lot of challenges so it's important to set realistic expectations.

When a crisis occurs, one needs to stay calm, staying calm helps you to make wise decisions and not make other people panic as the crisis is often inevitable. In case of a thread cast crashing, one could devise an alternative thread cast or links or give it time to come back without making the holders panic. 


Addressing crises in the crypto space requires strategic planning, after planning one needs to learn to adapt to change, and then use effective communication to navigate uncertainties in the dynamic space industry.

And if you ask me I will say Crisis management is one of the most valuable and crucial management skills because life is full of uncertainties, so everyone must possess crisis management skills to remain unshakable when things go South.


As a founder or holder of any community on the chain, or any member of a team one needs to be aware of industry trends and then anticipate market shifts, rise and fall in price all because change is the only constant thing in life so that when changes occur, one can quickly devise strategies to manage the crisis.

Founders can take it upon themselves to reach the top crypto journalists, publications, investors, influencers enthusiasts even blogs by using crypto-focused press release distribution services to mitigate crisis.

Founders can also cover loss with their secured asset fund for users in cases of crisis.




From the space, we learned that when a founder doesn't set and reach his goals and doesn't follow protocol and be swift about it, it can lead to crisis and so things need a great protocol to be followed to curb crisis immediately. 





Another good way to manage a crisis is to acknowledge the mistake, accept help and apologize to the holders and then take control of the narrative and be prepared to follow a set strategy to curb the crisis, ensure keep the holders informed with constant updates so that they do not panic 

In conclusion: The space is very enjoyable and even though I didn't join live, I didn't miss anything as I've learned the power of effective communication, and also why it is key to have a good team member as having someone smarter than you are can quickly mitigate risks before they go out of hand, staying calm during the crisis in order not to cause more panic and curbing crisis by following protocols are all ways to manage the crisis.

Posted Using [InLeo Alpha](https://inleo.io/@caelum1infernum/a-good-example-of-crisis-management-on-the-blockchain)