31 July 2020
What Shape of Recovery will we have?
Posted at 12:57h
When the Covid-19 crisis hit us we all heard about the New Normal, but few of us really understood what it meant? As time passes, we are slowly but surely starting to come to grips with this new normal which essentially means living with uncertainty and sporadic lockdowns as the end of this pandemic remains unknown. These times have been unlike any crisis we have seen in the past, where the real challenge has been people’s fears and the impact of that on our economies.
So, how does one deal with all this Uncertainty?
1. Acknowledge that no one can predict the shape of the Recovery curve. While we may see news reports and hear predictions from experts trying to predict the shape of the recovery curve, remember no one can predict the end of this pandemic and its impact correctly as no one has the answer to the solution.
2. Realize that you’re not in it alone. Once we realize that this is a global challenge, it allows you to feel part of a community where each of us is dealing with the impact of this virus on our individual lives in some way or the other.
3. Take it one day at a time. One of the best advices I’ve got is to take it one day at a time. There is so much uncertainty around us that we need to find a way to become calmer by making our own routine in this uncertain world. Sticking to a routine and continuing to connect with people allows us to feel calmer and become better decision makers. For it is only with a calm mind that we can make sound decisions.
4. Set Goals for yourself and reward yourself on moving in their direction. We all thrive on progress. So, use this time to set goals for yourself, set timelines and get focused. Remember you don’t need to wait for this pandemic to end to achieve what you want. You can start taking steps in that direction from today.
And finally, for all the entrepreneurs remember that no one decision makes you a failure or success in life. So, while this may seem the worst or best time for your venture, remember you cannot control the circumstances you are presented with as a busines owner. You can only make the best choices given the situations you are presented with.
So, take sound advice, think outside the box and most importantly keep your spirits up because while we may not be able to predict the shape of the economic recovery, you do need to ensure that whatever the shape maybe, you will come out better and stronger and other end of it.