COVID-19: How to Cope Through These Tough Times?
…Indeed these are rough times for businesses. It is distressing to see this climate of uncertainty. It is distressing to see this climate of uncertainty. In these unprecedented times it is essential that we take care of our health and that of our family. Only then can you have an opportunity to look after your team and your business.
You have a passionately nurtured good solid business. You had it all planned and the business was humming. Good sales, good service and quality matched equally by great relationships, leadership and healthy profits. Then comes along a curve in the road, unexpected and totally unplanned.
These are what are referred to as the Black Swan events. Covid-19 is a major example of what can happen.
(Historically, we had a major power outage; 9/11; sky rocketing interest rates, drastic recessions to name a few.)
Your world turns upside down. Things start looking hopeless.
Can the business continue to operate? If so, for how long?
It takes a toll on all aspects of your business.
It takes a bigger toll on your psychological wellbeing.
You have to make some timely and yet difficult decisions.
Your mind can be your best friend but it can also be your worst enemy.
We tend to gravitate to negative in our thinking ‘awfulizing’ and visualizing the worst case scenarios.
Mark Twain wrote: “I am an old man and have known a great many troubles, but most of them never happened.”
I am by no means trivializing the challenges ahead, but caution to all businesses that such challenges are never permanent, personal or pervasive.
Whether your business being an essential service that continues on or it has temporarily shut down in light of the COVID -19, challenges abound. Financial pressures, human resource problems, supply chain issues, just to name a few.
Cash flow will weigh heavily on your mind.
Much generous help is being rolled out by all levels of Government as well as Banking Institutions.
The biggest challenge is of course your ability to remain rational and make some key strategic decisions. You may feel overwhelmed and anxious. Stress will mount and suppress your immunity and so a downward spiral begins.
It may be time to seek some rational and strategic help- in order to regain an outside calm perspective.
After a big downturn, believe me, there will be some silver linings up ahead.
Meanwhile a business needs to be strategic to be able to sustain itself.
We at ASE have weathered many tough times and can likely be of great help to businesses in these dire times. Shortly we should be able offer online meetings in lieu of the ‘face to face ‘meetings. Reach out and we can slot you in for an online meeting.
Should you maintain your cool and carefully plan for survival, your chances of not only recovering but to eventually thrive may become an unexpected opportunity.
You are not alone in these challenges Please reach out to us and we will accommodate your requests and needs for guidance by way of online meetings. Email us at contactus@a-s-e.ca
….. In the meantime please stay calm, safe and well. Shishir Lakhani ASE