Hello,
Unless you’ve been living under a rock…
You would have noticed that this Coronavirus situation might get out of hand in the weeks to come unless everyone is vigilant.
There is a lot of uncertainty around what affects this virus could have on the world and the economy.
But one thing is for certain…
It’s in times like this, that owning a business or working as an early employee in one is an incredible responsibility.
Your decisions and actions impact a lot of people.
Your colleagues, your clients and your community.
And the number one key quality of a leader in uncertain times is their ability to take decisive action.
Because it’s in times like these, that businesses get exposed.
And this is regardless of whether your business is on sound footing.
But the ones that are the most vulnerable, are the ones that operate by whatever ‘fate’ falls in their lap.
Not the ones with a predictable machine-like operation for attracting new customers and retaining them.
As the economy contracts…
As uncertainty spreads faster than the virus itself.
As people are fearful.
They look to you as a leader…
And this is the time you must take bold decisive action.
You must first come up with a plan if shit hits the fan.
Then, you must look at your company’s weaknesses and biggest threats objectively and insulate them.
And after you’ve addressed these…
It’s time to get on the offensive.
At such times, leaders (entrepreneurs or intrapreneurs) organise themselves subconsciously into three distinctive groups.
The Paralysed By Fear Entrepreneur:
They’re flicking between 5 different news stations…
CNN, Fox, CNBC, Aaj Tak, BBC, Al Jazeera…
This entrepreneur is the most emotional, the most concerned and the most overwhelmed.
They’re indoctrinating and incarcerating themselves with negative media…
They speak using words like ‘struggle’, ‘fear’, ‘tough’, or ‘difficult’.
They’re playing the blame game.
‘Who’s fault is this?’
This distorts their perception. It clouds their judgment…
And this prevents them from seeing what Can Be Done!
Then we have…
The Scattered Entrepreneur:
They’re riddled with uncertainty on what to do…
Playing the ‘wait and see’ game.
Burying their head in the sand…
And hoping this all blows over and things return to normal.
Their activity level starts slipping into ‘retreat mode’…
And what little resemblance of plan they’re trying to formulate is simply about…
Taking time off, going on vacation and retreating.
Then we have…
The Action-Oriented Entrepreneur:
They’re consuming far less news and aren’t engaging in negative talk.
They’re taking ACTION and looking for opportunities.
Making changes to how their teams work and what everyone’s focusing on.
Shifting product/service offerings.
Looking at buying other businesses.
Scaling up their advertising and marketing…
And they’re on the hunt for good talent to snatch up.
They’re on the offensive…
Looking for SOLUTIONS, not staring at problems.
So, don’t let the situation paralyse you.
Start making moves.
Invest yourself in the business. In your education. In skilling up and scaling up yourself and your company.
As Warren Buffet says…
“Be fearful when others are greedy, and greedy when others are fearful”.
Well, there’s no need to be greedy but we can definitely continue to staying optimistic and opportunistic and ‘go out’ to win.
Look, now is the perfect time to invest yourself deep in Impact…
And to invest in yourself. For the sake of the long term.
Time to Win.
Ishan
