Thoughts On Business Leadership By Trang Trinh

small business magazine Canada

Trang Trinh CPA, CA — CEO & Founding Director

A recognized strategy and operations leader with 10+ years of experience. Completed 10+ transactions ranging between $1 million to $14 billion during her consulting career at Deloitte, leading the cannabis sector with an M&A lens. Trang brings vision, deep relationships in the sector, mentorship and kindness to her role in leading TREC Brands.

What is your definition of Leadership?

A leader is someone who creates and nurtures more leaders and to do that, they understand that the people are the key to success (or failure)in any business. I believe that great leaders empower others to carry out their roles and reach their goals by ensuring they have adequate support and resources to do so. I have had the opportunity to work with many incredible leaders that did just so for me during my time at PwC, Loblaw Companies and Deloitte and I try my best to pay it forward every day.

What are the most important values and ethics you demonstrate as a leader?

TREC affectionately stands for the values the team and I lead with every day – that is trust, respect, equality, and compassion.During this time, compassion is extremely important – to walk empathetically in the shoes of employees, customers, and partners while protecting the company’s financial measures.

How do you encourage the development of your employees?

 At TREC Brands we have an official mentoring program where the leadership team actively meets with their mentees monthly to discuss professional skill development and taking on ‘stretch-projects’.I also really enjoy recognizing the outstanding accomplishments of our team members each month – which we call TREC Spotlight during our monthly all-hands meeting. Lastly, I think it’s important to give the team the autonomy to perform their roles with just the right amount of strategic direction and guidance.

What is your advice to Canadian business owners during the COVID-19 Pandemic?

You are the leader in your business, and your people will expect you to be the voice of reason, so stay calm and reassure that they can rely on you during this uncertain time. The well-being of your team is a priority. Communicate, communicate, and communicate some more. Continue to keep your teams connected and engaged via technology (Slack, Zoom, Hangouts) and let them know that ‘we are in this together, and we will get through this together’. The TREC Brands team connects on a daily basis, bookending our weeks with Monday Motivation and Gratitude Friday video calls, in addition to daily 4:20 squats.

Secondly, ‘cash is king’. It is time to scenario plan for business continuity and implements measures to protect cash flow such as: turn your receivables into cash and revisit any variable / discretionary spend by thinking through what could be reduced, postponed, reconsidered or required to position the company for a rebound once the crisis ends?

Pin it
Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts