You thought it would all be over in a month when Covid spreads, say to yourself, “It’s okay, in a short time I can get back to the office building. I can get the team back to work. I can continue what I was doing before.”
Now, over a year and a half later, are you still wondering when the Covid will end? With new cases in different countries, travel restrictions in some countries, friends who have moved, and a collapsing support system, are you still positive and moving on?
It’s never easy for business owners in the midst of the pandemic. The market is constantly changing, and the pandemic has accelerated its pace to create a desire for change and opportunities for improvement, but business owners face new challenges in other ways as well.
What exactly can business owners do to stay current and thrive?
1. Keep learning.
Digitization has given us a lot of free platforms to learn, free resources that you can get if you want.
2. Build your persona.
As a business owner, you are the brand yourself. The way you look, the way you interact, what you post on social media reflects the nature of your business.
Be mindful, take time to slow down and improve yourself mentally and physically. Spend quality time with family and friends, build a new healthy support system. Give back to the community.
3. Hope for the best, plan for the worst.
It’s important to stay realistic in this situation: How is your business doing financially? How much do you need to invest before you can start making a profit?
How long do you have the cash flow to pay employee salaries, office rent and utilities before you get new projects?
Will you still be competitive in 3 years? Is it time to refine your business model? One thing you can do is talk to entrepreneurs from different business sectors and understand how they approach these challenges and make decisions in certain situations. It will not only help you get clarity but also get rewarding benefits that your friends might need your services/products.
4. Put yourself out there
A common behavior of business owners is that they try to work things out in their head and hope to solve all the problems in one day.
Allow yourself to be brave, to be authentic, to be honest with yourself and others. Share your struggles in public, share your stories in the local community, your voice can make a difference in other people’s lives when they know they are not alone in the situation.