The business world is constantly filled with uncertainty. However, recent times have elevated this sense of uncertainty for those across the globe. The rapid spread of COVID-19 is causing a lot of chaos. People are feeling unsettled, fearful, anxious, and scared. We are realizing that we are more fragile than we thought—more exposed, unsafe, and less in control, but rather than stressing about what is out of our control, we should be focusing on what we can control and rise to the occasion, so that we can operate with high performance during uncertainty.
We need to separate out what is and is not in our control so that we do not spend energy and time on things that we cannot change. The inability to do this is what makes us fear uncertainty. Once the things that are in one’s control are identified, ask which of these are really at risk, which should be focused on in the same way as we are currently focusing on them, and then try be creative around expanding what truly is in our control: there are things that we do not consider right now in our control only because they are not part of our daily routine. Things like learning, upskilling, planning, strategizing, meeting new people and learning from them (LinkedIn and Shapr enable you to do this even with social distancing) are hard to be removed from the realm of possibility.
I have always believed and looked at what I chose to do with my time when I have “less” to do as being an indication for my level of a success-mindset. So much of the time we feel productive or busy only because we are reactive and constantly doing what is given to us within our normal routine. So often we say to ourselves “if only I had the time to do x or y”. Well if your routine has been shaken up to give yourself this time, what are you doing now that you have it? Are you doing what you always wanted to do with your time? Are you making yourself better? Are you turning your life around from being reactive to be a proactive dictator of your own life? Do your goals still exist and are they not still worth your pursuit of them?
People are scared and the number one way they react is to stop trying. However, high performers prefer progress over pause; remain committed to being their best; and using the pause to their advantage, knowing that this is the time to strengthen relationships, build new skills, and innovate when everyone else is trapped in fear. High performers are also aware that their loved ones and those being led see their attitudes. They are wanting to see and feel practices of gratitude, compassion, faith, and leadership.
We have a historic opportunity to lead and grow, and you can choose to be a role model in how you deal with this. You can keep a positive attitude and remain calm, thoughtful, and compassionate in order to set a more positive tone during this time.
Instead of fixating on a screen, drinking wine in the middle of the day, and ultimately dwelling, adopt a growth mindset!
Stay disciplined in your healthy habits and see this as an opportunity to be more productive and energized in your march toward your goals.
Entrepreneurial Advantages
As an entrepreneur, you have an advantage during these hard times. For those dedicated to growth and leadership, chaos is not something that is new to you. In our field, we prioritize progress and remaining committed to being our best. You can use this downtime to your advantage and recognize that this is an opportune time to deepen relationships, build new skills, and inch forward while everyone else is frozen in fear. Seize the chance to demonstrate your strength, optimism, and resilience.
Certain companies, such as Amazon and Netflix, are doing particularly well during these trying times – some due to being well positioned for the stay-at-home market and others because they are innovating and adding value in different ways. For example, many gym/ fitness centered businesses have turned to live online classes. This is an innovative way to keep business alive during the difficult time we are facing. In your own capacity you might shift the way in which you are productive: your focus can be on upskilling, learning, and networking. Regardless of the situation, you need to make sure your business and yourself are not sitting at a standstill. Though the current situation is affecting all sectors of business, you do have the opportunity to stay on top of what you can control, and put your business in the most ideal situation you can.
AngelytiX is extremely grateful to be one of the companies who is still able to function almost normally considering the constraints as we help our clients weather the storm while also focusing on and planning for the long term.
Business and Human Lessons
Be mindful of the lessons that nature wants us to learn and be reminded of such as empathy: we are all in this Coronavirus pandemic together and while some might be less at risk than others it is our duty to look after the whole. Add value to the whole by looking after yourself and being empathetic towards others. It is the same situation in an emergency fire alarm: if one person panics and attempts to step out of order it brings chaos to the whole. Spend time to contribute and be of value to the whole.
Nature is reminding us of how precious our health is, and how often we neglect it. Our society has grown increasingly materialistic, but during these times we can recognize that it is the essentials that we need: food, water, and medicine. We can see how we have taken these basic necessities for granted and can now remember to value the small things as opposed to the luxuries that we sometimes give unnecessary value to.
It also reminds us that we are all equal. Regardless of our culture, religion, occupation, or financial situation, the virus is affecting us all, treating us all equally. It has shown us that we are all connected and the actions of each and every one of us affects others.
Implications for Your Business
With regards to your business, what you need to focus on is crisis management. Business as usual is simply not an option. A huge priority is to protect your employees. Establish a two-way line of communication to create a safe space for employees to express if they are feeling unsafe for any reason, as well as monitoring adherence to updated policies. It is also vital for businesses to define scenarios tailored to the company’s context. For the critical variables that will affect revenue and cost, you can define input numbers through analytics and expert input. From there, you can define moves to stabilize the organization in each scenario. Moreover, it is hugely important to stay close to your customers. Companies that navigate disruptions better, succeed because they invest in their core customer segments and anticipate the behaviors.
Finally, demonstrate purpose: Businesses are only as strong as the communities of which they are a part of. Companies need to figure out how to support response efforts—such as by providing money, equipment, or expertise. Do not let the virus put your business on hold; focus on what you can control and innovate in order to add value in novel ways!
The Coronavirus crisis is a story with an unclear ending. What is clear is that the human impact is already tragic, and that companies have an imperative to act immediately to protect their employees, address business challenges and risks, and help to mitigate the outbreak in whatever ways they can. Stay safe, wash your hands, choose to develop more skill and insight, and care for those you love and lead. Be strong— this too shall pass!