Six Months That Shook The World – 5 Lessons I Learned
The last six months have really shaken the world. The last time the world went through a pandemic was in 1918. And the last time that the US went through this amount of social unrest was during the 1950s and 1960. Now, it’s a period where everyone is demanding systemic change. I have learned a lot of lessons during this period and I’m going to share with you all these lessons.
1. Adapt Or Die
The world is always changing and if you don’t adapt to new realities and new technologies, your business and finances can suffer a lot. Most businesses have either moved to or are starting to move to the virtual way of doing things. There are more than enough technological tools available that can take your business to the next level. You can do business online, or even provide services on demand and by delivering to your customers’ location.
2. Tough Times Can Be Revealing
It is rightly said that a lot of progress happens during tough times rather than the good times. This applies to business, finances, relationships, and so on. This pandemic has allowed many people to really get to know the people they live with and love. It has allowed many people to go back to the drawing board to figure things out for real. It has brought many families together as they are spending more time with each other.
3. Essential & Non-essential Businesses
Before the coronavirus pandemic, we had no clue that there could be such a difference between essential and non-essential business activities. But as we are all aware, governments all across the globe have disallowed non-essential activities while allowed and made it easier for essential ones to keep operating. So, a lot of people are re-evaluating right now whether they want to be involved in the former or the latter.
4. War Time Leadership
There is a peacetime leadership and then there is a wartime leadership. It is the latter that ensures survival and the prosperity of the people. It is not that wartime leaders aren’t afraid. It is just that they have the courage and skills to wade through the tough times and also ensure that their team is able to do so too. They can take tough decisions and execute them. Wartime leaders can do this with relationships, family, finances, business, and everything else.
5. Cash Flow Is King
The pandemic has once again proved that cash and cash flow are still kings. You need to have a constant inflow of cash so that you can pay your bills so that you can buy all the stuff that has suddenly become valuable now like disinfectants, medicines, among other supplies. During the pandemic, if you have something that brings you cash flow, then you are in the right business. If you don’t have something like that, you need to figure out how you can generate cash flow. Because at the end of the day, you need money to pay for stuff.