Welcome and thank you for joining. This is an important and very useful “clip” and not a standard informative or how to cure or humorous article on this present situation. Something that is truly practical and valuable.
I had mentioned earlier that, I shall post either audio/ video clip. Apology first!! Unable to do it quickly because of the contents and it also needed extra time. I am of the opinion, this (help) should reach out to everyone at the earliest. I shall still do a short video summarizing this article. Till then keep going through this and help yourself with the most relevant.
If you are not that person who enjoys reading then, do read it in parts. Or use the text-to-speech app which is supported by many browsers.
You being a talented and successful professional who obviously knows what to and what not to do during this status quo. This is just a facilitation.
Assuming you are a key decision maker and seek opinion of your business or life partner if need be. It has been noticed that these decisions are mostly scenario based and limiting due to lack of collective opinions such as the board member’s views or public surveys.
On the other hand, larger organizations, always have the luxury of regular training or coaching sessions. Also, they must have received all that is required to tackle and overcome the ongoing circumstances.
Well, it is frustrating and daunting to confine yourself within the four walls of your home and unable to step out to carry out the routine work. Having a coffee meet up with a prospect or a follow up get-together with a client or supplier is always beneficial.
The challenges now for small businesses are many. They arrive from all the functional sectors of profession. At this threatening moment, we shall only consider the financial challenges.
The majority of small businesses do not hold a huge reserve to back them up. If they had, they would have been categorized differently i.e. medium business and situation handling process would have been entirely different.
The start-ups; I feel sorry for the young generation. They must have enthusiastically started their own operation at the beginning of this year. The amount of hard work in research and planning to support their dreams is conflicting in total. My appeal to this group is not get nervous and think deeper for a way out. Hang in there!!
Luckily for many of us the government have come forward with financial help. I had an opportunity to listen to the press conference, surly you must have paid attention as well to figure out that, these granted billions are the borrowed dollars and at some stage this money must to return to its source.
I wish to share my thoughts with you to help and be an obvious winner. I am not talking about any remuneration here. This is my gift to you. Make the most of it and be successful.
Three fundamentals; all these are important during this pandemic.
1: Mindset or Attitude.
2: Self and Team Management
3: Finance Management
Which is the most important for you at this stage and why?
If we are able to manage all these three aspects then, I am confident that we will come out of this situation. This may sound easy, but it is not. Let us try it out, we have nothing to lose, isn’t it??
Let’s look at the Mindset or Attitude first.
I was communicating with different businesses earlier and during this incredible situation. Many complained on the surfaced challenges. It is unprecedented, was a common exclamation!!
Yes, but no from a business perspective. It is not the first-time, something unexpected did happen in past, many big businesses have been thrown out of market and created opportunity for others. A quick example, video cassettes, DVDs, are out of business because of online video streaming. The traditional telephony got “switched” with a new protocol named voice over internet i.e. VoIP. Uber, Ola in recent years have successfully challenged the taxi industry. Those who refused to adapt and reinvent their work had to go and others with smart thinking have occupied their space. An example, departure of Konica, Nokia and (definitely) many other was not extraordinary. It was certainly dreadful and quick.
This obviously raises question regarding our work. Would it continue to remain the same or do we have to adapt changes?
Upon restoration, the world will be very different. There will be numerous difficulties and the economic downturn is imminent.
The businesses who have used up their earnings, offered (fat) remunerations and perquisites are bound to struggle. A misconception among many that, a better salary structure helps to retain the top performing staff. Many also had investments in the stocks and mainly in the NYSE. This will push them to survival mode with tremendously low willpower.
Though we are emotionally exhausted, we have adequate time to think and formulate a new working module. Let us focus and create new strategies which will work for the years to come.
The first important question to ask yourself is
A: How we are going to win from here?
B: How we are going to change to reach our ultimate desire?
The choice is yours and that will determine your mindset.
The time demands you to think differently. Do not allow your competition to take you over. Run away from that race which you have been participating for so long and till date.
1: A new tagline to your profession,
2: Add why,
3: Add mission, a long-term mission
4: Take a halt at “what” you are doing and
5: Ask yourself why are you doing it; give a purpose and certainly you will cruise through.
Carry your new message across everyone and now!!
State of affairs now are significant but are situational and situation does change. Sadly, we do not have any control over it and is not within our thinking expertise, but this episode will disappear and that too very soon. Meanwhile, prevent from thinking and talking about it.
We have been consuming more than what we need. Every day, we have been trying to obtain information from numerous sources like, websites, news channels, blogs, social media etc. This information is toxic, the more you absorb, the more stressful you possibly will get. The virus may not but it’s worry may kill many. Therefore, let us stop or minimize its intake.
Keep it aside and get ready to fight, not a physical one. No one can get into a physical battle at this juncture. It is the emotional fight, ask yourself what am I doing with my 24 hours, what am I doing with my team members, and what am doing to myself and family.
We have to accept the circumstances. It is not any type of surrender. This is a quick switch to the work mode. This mode is much better than the fear mode. It is a creative mode; it is a constructive mode. This is the only mode that will bring success. Let us get into it, let us be resourceful!!
Work mode requires a quantifiable effort, setting up some task focused activities is the first step. Then comes the analysis of those. It may be early to analyze newly set tasks.
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Director | Relaunch ITS 247