Oh, how the tables have turned in the last month. Like everyone else, we are reeling with the reality of Covid-19 and what it will do not only to our own portfolios and livelihoods, but that of the entire world. We are in a time like no other and it would be pretty easy to hide up under a rock and not make a peep until this is all over. But that would be in-congruent with how we run our business and what we want our community to look like. We believe that we are all in this together, and with a lot of patience and a little planning, we hope to make it out healthy, with our ducks in a row, and ready to tackle whatever comes next. Here are some practical things that you can do to make sure that you, your families, your company, and your business come out of this pandemic ready to roll!
Take the Medical Advice
Medical advice put forth by the WHO and CDC should be followed! Stay home, reduce stress, wear a mask in public, if you feel ill, contact your primary care doctor. Following this advice is what will help reduce the risk of exposure, infection, and illness. And these simple steps could save your life or the lives of those around you. Eliminating the risk of infection and reducing stress are the two most important things that you could do to protect yourself and your family. If that means ordering in groceries and turning off the news, then do it. But in this unprecedented time, take the opportunity to slow down and evaluate what is important to you.
Make a Plan
This may seem like you’re jumping the gun, but having a flexible plan that you can put into action as soon as this is all over will help give you the leg up that you might need to get your business out of the weeds and back into the investing game. It will be a long, hard road, but in the end, all we can do is prepare ourselves. Take a look at your business plan, tweak it if you need to. Take a hard look at your finances and make a plan to put that money to work as soon as you can. Evaluate your objectives and if something doesn’t line up the way that it used to, then don’t be afraid to consider other alternatives.
Adjusting your plans isn’t easy for anyone, remember we are all in this together and if you are struggling to adjust your plans, expectations, or business model, remember that you aren’t alone. No one want to have to rethink a business plan. We put a lot of work into honing our business to be exactly what we want it to be, and having to adjust can feel like failure. But in this case, it is far from it. Adjusting is the difference between a business that will die and one that will thrive. Take heart, you aren’t alone. We will get through this, and we will find a new way!
