As any of my past Joie de Vivre employees will tell you, I think all hotels fit into one of three categories: primary, secondary, and tertiary. Imagine three buckets—the primary one on the top rung of a ladder, the secondary one on the next rung down, and the tertiary on the rung after that. In good times, guests fill up the primary hotels, and the overflow goes to the secondary and, then, the tertiary. In bad times, all three types of hotels suffer, but it’s the tertiary that are most hurt since they’ve been reliant on overflow and haven’t really earned any loyalty. In a recession, a tertiary hotel is swimming naked.

In this HiPERleadership podcast, I advise leaders on how to navigate a downturn by being a top-rung leader. You’ll hear some of my counter-intuitive perspective on why the leadership lessons you’ll learn in this pandemic will make you a better leader for the rest of your life. The loyalty you’ll develop during this time—with your employees, customers, and investors—will create jet-propulsion for you and your company once we’re through this “low tide” period.