Before I even begin, I want to make one thing perfectly clear. I contemplated writing this post for a while because of the obvious sensitivity of the topic. I am by no means suggesting here to capitalize on other people's misfortune. I am simply offering some suggestions on how to minimize the damage this pandemic is causing all of us on the financial front.
These suggestions are ideas on how to not totally crash under the burden of Covid-19. By no means am I minimizing the severity of the medical ramifications or all the lives lost, and this is a crucial point to understand.
So, if you, like millions of other people, are worried about your financial stability, here are some points to consider when trying to find the silver lining.
Talent is out there and waiting to be snatched
This really is a once in a lifetime opportunity, and while that feels weird to write in the midst of a global pandemic, I am trying to separate the medical and financial damage this pandemic is causing. When it comes to hiring, companies still need talent, and as long as they continue to exist, they will always need talent. Guess what? Talent is out there and waiting to be hired.
I personally know some incredibly talented people who are now looking for their next challenge. Under normal circumstances, these people would have companies fighting over them. So if you are running a company or an HR department, now is the time to take advantage of the rare talent that's out there and available.
We all have more time to focus on things we have neglected
I was thinking about this this week. Pre-Covid-19, I would try to get as much done in as little time as possible. I have spoken extensively about time management and optimization. Now, in our current situation, I am doing very little and taking as much time as possible in order to stay busy. It is a fundamental shift, but one that provides a unique advantage.
We all have that task we have wanted to do for years but with which have perfected the art of procrastination. Now is the time to stop procrastinating and cross it off your list, because, well, we all have a lot of time on our hands now.
Your weaker competitors don't stand a chance
Again, at the risk of sounding insensitive, the market will naturally undergo a process of consolidation now. Put differently, only the strong will survive this, so now is the time to double down, gain market share, and establish your company as a market leader because many of your competitors will be disappearing in the coming months.
If you can make it through this, you can make it through anything
Nothing quite like a global pandemic to test your resilience. If you were to ask me what the number one most important characteristic of any entrepreneur is, I would say resilience. Entrepreneurs need to know how to survive the toughest of circumstances, when to pivot, and, most of all, when to call it quits.
If Covid-19 can't stop your determination, and you make it through this, you will 100 percent come out stronger on the other side.
Decreased productivity is expected, which means you can go deeper
Even as I write this article, I find myself doing it at a slower pace than usual, because, let's be honest, where am I rushing? Before Covid-19, we were all in a constant rush to get as much done as possible, so we were unable to go deep and focus on quality over quantity.
Now might be a perfect time to take a deep breath and try to achieve a level of perfection you would otherwise never even aspire to. Perfection might not be achievable, but you can now get much closer than ever before.
There is no beating around the bush here: We are all in the same boat, the boat is sinking fast, and what separates the winners and the losers is the ability to swim to shore and make the most of the water. The waves are strong and scary, but once you overcome them, you can overcome anything.