The first thing you ought to do if you’re the new person in charge is nothing,” says Schacht. “I have learned this over and over again. Resist the temptation to ‘hit the ground running.’ It is absolutely almost certain to be wrong.” He stresses this is even true in a crisis situation.

Schacht’s advice is especially pertinent during a crisis. In troubled times you need to have as many brains as possible working on the issues, but those brains have to agree on what they are doing and why. “You have to have agreement on definition of duties,” he says. “You’ve got to have roles and responsibilities and none of that is easily apparent, particularly in a crisis and particularly when you have to make changes.” Listening and talking to people takes time, a precious commodity when everyone is breathing down your neck and demanding answers, direction, and a strategy for salvation. Nonetheless, Schacht declares, “This is not a luxury, it’s critically important. It’s the most important thing you can do.

Henry Schacht also knows the important of putting on a game face in a crisis. When the former CEO and chairman of Lucent returned in October 2000 after the forced departure of CEO Richard McGinn, the technology bust had vaporized many of its customers and slashed the spending budgets of the one that remained. The financial analysts that Schacht had completed showed that Lucent could well run out of money in ninety days. Schacht’s crisis communication plan and the way he communicated with his largest customers helped save the company.

If you are in a leadership position in a visible company, especially in a time of crisis, stories will be written regardless of what you do. Reporters have a job to do, and they will do it whether you like it or not. Treating them forthrightly, consistently, and with facts is considered best practice in crisis situations.

Leaders who settle issues too quickly limit their opportunity to grasp the ramifications. One of the most dangerous traps is failing to solicit the input of others on the team. Not only does this mean that you most likely won’t have all the information, but you will be absolutely certain to disenfranchise your colleagues. “It is close to fatal to decide or pronounce before you listen,” says Henry Schacht. “And in crisis situations, I think you exacerbate the problem as opposed to moving towards a sound situation. Even if at the end you come back to exactly the same decision you would have made, how you get there is as important as getting there.