And the choices that we make
We have not experienced such a global pandemic in our lifetime before. The previous being the Spanish flu in 1918. The world is a very different place today than then, both personally and in business.
Those of us in business are facing some challenging times, a few of us are prospering now, some of us will go out of business and the rest of us will find a way to still be around when things eventually become a little more normal. Is there a way we can position ourselves to at least be one of the survivors?
To be able to do this we must first recognise the three phases we may go through that make us adapt:
- Panic: I think nearly all of us at first will admit to having some degree of panic when isolation was announced. For some of us that would last 5 minutes, others 5 hours, 5 days, 5 weeks, etc, however, if we are to remain in business we need to start to find a solution to our lack of business, cash flow, staffing issues, etc, so we move on to the next stage.
- Survival mode: great, we are starting to think more positively, what do I need to do? How do I cut my expenses; I need to investigate the help that is being offered? Is there any work I can still do to create some income over this period? Mortgage holidays, vehicle leasing breaks and make sure my energy readings at my business are accurate so as not to receive an over the odds estimate, etc. Now for those of us that look to come out of this with new opportunities we move on to the next stage.
- Thrive: in this mode we look at new ways to market our services. What other services or products can I deliver? We become more creative, in fact it is well known, in times of struggle we come up with much more creative ideas than in times of prosperity. What may the people that are doing well need and how do I get it to them? Do I have something subscription based I can start to offer to prevent cash flow problems for the future?
We cannot influence what people say to us, or what’s going on in the political or global environment, however, we can control the way we react to it. This will very much have an impact on the way we as individuals bounce back from the current situation, and our businesses too.
I hope you have found this article useful; we make a choice to have a glass half empty or half glass full mentality. Those of us with the more positive outlook can adapt, be creative and position ourselves in prime spot for whenever things return to a degree of normality.
You make a choice to be positive.
Most importantly, stay safe, stay well!
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