Coronavirus has shocked the world.
Businesses are shutting. Jobs are vanishing. And most alarming of all, the number of cases continues to rise. Humanity is truly at stake.
Just last week, the Labor Department reported that initial unemployment claims rose to 281,000 and there have been a confirmed 10,000 cases of coronavirus in the United States alone. As of writing this, our elected officials are working on a $1 trillion stabilization plan.
It’s in times like these that leaders are forced to be agile. They’re forced to operate on shoestring budgets. They’re forced to have difficult conversations with their employees.
They’re forced to put the needs of the business above the needs of themselves.
There’s no way around it — things have changed.
With so much uncertainty looming, there’s one question all entrepreneurs, business owners, and thought leaders are asking: How do I lead effectively in times of scarcity?
Focus on the Details, Despite the Chaos of Coronavirus
We’re more preoccupied than ever right now. Many of us are having to ask ourselves incredibly difficult questions: Can I pay my staff? Can I pay myself? Do I need to downsize?
These questions are so pressing and so stressful, it can be easy to overlook the things you can control. It can be easy to forget about the clients you do have or the business that is coming in.
This is especially important to keep in mind because everybody is in the same exact position. We’re all analyzing our expenses and making difficult decisions.
A mistake, no matter how small, now could be especially costly. Be diligent and focus on the details.
Plan for the Future Post-Coronavirus
Many of us are in survival mode, so this may be difficult to fathom, but we have to start thinking ahead. Ask yourself, what does it take to survive the next six months? What can I do to make sure I’m better prepared if this happens again? What are my plans after I’m out of survival mode?
Take note of the difficulties you’re facing right now and plan. Maybe it’s diversifying your offerings. Maybe it’s adjusting quarterly expectations. Heck, maybe it’s just getting a better handle on finances in general. Things may be rough now, but they won’t always be.
Build a Platform
People need communities. They need their feelings validated and to know that others share their experiences. There is no better tool for this than the internet. It allows us to collaborate with folks from different cultures and it allows our messages to connect on a larger scale than ever before.
We need people to step up and deliver content that’s relatable, honest, and vulnerable. People need to be reassured: No, you’re not alone. Shared struggle builds our closest relationships.
Control Your Narrative During the Coronavirus Pandemic
Even in times of crisis, there’s opportunity for growth. No, you might not be signing a new client today or opening a new office anytime soon, but you can use this time to take control of your narrative. Build the community you want to be a part of. Network with like-minded people.
Things are slowing down now, but they won’t be slow forever. Think: How can I wedge the door open and set myself up for later? Which communities and people do I want to impact? How can I make myself resourceful to them right now, and in the long run? What is my vision for the future?
Circumstances like this force leaders to do many things, but above, they force them to grow. We need to minimize risk and keep an eye on opportunities, but we also have to position ourselves well for when the dust settles. We may be socially distancing, but it doesn’t mean we have to stop connecting.