The Silver Lining
By now, we have all witnessed some of the negative health impacts, economic damage, and uncertainty the COVID-19 Coronavirus has caused.
How you respond now determines where you and your company end up in the weeks, months, and years that follow.
The silver lining with this crisis, and all before it, is that there are critical opportunities now and once the chaos subsides.
It may seem like this crisis will never end, but it will. Getting perspective is a critical skill that will help you make better decisions for you and your organization.
Equanimity
Equanimity (n.) — Mental calmness, composure, and evenness of temper, especially in a difficult situation.
Remaining calm amidst the storm provides you with an invaluable opportunity. You can observe and assess your situation from a calm, unemotional perspective in order to get clarity to make the best decisions.
Avoid emotional, knee-jerk reactions as suboptimal decision-making will result.
Perspective
Tragedy and hardship will continue and should not be understated. Compassion and empathy are important — and part of being human. We are, literally, in this together as a species.
That said, this crisis will pass with time just as all other crises we’ve faced.
IF you believe in (1) humanity’s incredible resiliance, and (2) capitalism, you should take comfort in believing we will be stronger in the end.
The chart below shows the stock chart for the S&P500 since inception along with all US recessions (the grey bars). What’s the theme? We survive and get better as time passes.
Opportunity
When you are consumed with the noise, chaos, and flurry of information, you lose composure, focus, and perspective.
You lose the ability to maintain your direction amidst a whiteout. You go off track.
Others that are able to remain calm and keep perspective will see opportunities that you lose in the noise and they will emerge stronger.
The step function
This crisis has fundamentally changed the way people shop.
In a matter of weeks, there has been a sudden and dramatic adoption of online shopping. People are forced to shop online because they’re forced to stay inside.
Asking yourself: “How does this immediate and dramatic shift in online shopping impact my business and my supply chain?”
The short answer is the future will be different. The businesses with a strong online strategy will emerge stronger and will take market share. I wouldn’t want to be on the opposite side of that bet.
Contact us if you’d like to talk: https://www.friedlandenterprises.com/
