60 days into the disruptions caused by corona pandemic has proved to be the worst, affecting people across globally. On one level the pandemic has created a sense of negativity and uncertainty all around us, & on the other – the lockdown has served us many lessons and time to rework, review and re-think, now more than ever! The current circumstances are deeply alarming & complex, but like is said, “the smooth seas never made a skilled sailor!”Business houses would be encountering several challenges over and above the rough seas to recover from and ensure their survival in which they have invested their hard-earned money, sweat, blood, & time! It is time to attend to those damages, get ready and face the ocean again.
“When the seas get stormy &the fisherman can’t go fishing, they spend time repairing their nets and boats!”
POSTIVE OUTLOOK: The pandemic has been a journey into the VUCA World, i.e. Volatile – Uncertain – Chaotic – Ambiguous and as the markets &businesses are resuming, there still exists ananxiety & a sense of hopelessness. It is absolutely essential that business owners, entrepreneurs stay away from intense negative emotions, maintain a healthy mindset and focus on maintaining a calm disposition. This calmness would be the birth seat of innovative ideas & thinking differently which would bail businesses out from the hostile situation.
RIGHT INFORMATION: Never ending news, flummoxing social media, umpteen webinars & several platforms disseminating information &data seems to be the order of the times. Being updated is a good thing, however, it could get quite depressing and overwhelming if there is a sense of drowning under surge of information. The focus should solely remain on information & data concerning your business vertical and be convinced that it is completely sane to let go of the rest of the stuff. This approach would help to stay on track, improvise by moving the business in a more progressive direction. So keep your eyes on that destination & sooner you are on top of your game the better off you would be in the end!
QUICK DECISIONS & QUICK ACTION: An intense emotional mindset or too much information can only lead to “analysis paralysis”, an outcome of procrastination combined with fear of failure. And, here to continue on the fishermen analogy – “the fishermen knew that the sea is dangerous & the storm terrible, but they have never found these dangers a sufficient reason for remaining ashore!” So have faith on your past decisions which have seen you sail through many weathers and breakdown your journey into smaller parts. Get your team onboard, become proactive, get back behind the wheel and navigate your business to safer shores.
LEAN STRUCTURE: More than ever, it is time to understand that only the fit would survive and now is the time to cut out the fat and retain only the lean muscle structure that would strengthen the business. Revisiting processes, staff KRAs, weeding out unnecessary costs to create a lighter & leaner structure would pay dividends in the long run. The best solution to cope up with the post covid trauma is to focus on core competency and purpose of the business & outsourceor move to digital platforms.
COLLABORATION: The last and the most important key to sail through the rough seas is collaboration. A well tuned collaboration with the on-board team, giving priority to their safety with empathic open communication would give more rowing power. Collaboration with the right vendors & partners would be like those sails, using the winds & giving business the adequate push towards the right direction! And, of course staying connected & strengthening the collaboration with clients/customers would be the most critical. Keeping them informed of changes, latest updates or any heads up would be that final anchor to ensure you dock safely!
For broader insight and how you can build resilience for your business after covid-19, get in touch with our experts.
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