You don’t have to look far to find a friend or a business that’s been affected by the current health crisis or the financial crisis the global coronavirus pandemic has created.
I read a book many years ago called A Beautiful Constraint by Adam Morgan and Mark Barden and in February this year, when faced with the prospect of at least six months of known and unknown challenges, I dusted it off again.
The book discusses how we are all either victims, neutralisers or transformers — or that we are all of these, and they are simply stages we move through when faced with a challenge.
We all have the ability to be victims or to move through these stages of acceptance and the companies that survive and come out of this year the strongest, will be the ones that choose to transform.
If you are still hurting, you may not want to hear about upsides, but if you’re ready to face this constraint, that admittedly no one would choose, then here are some things we are noticing at Choice Energy.
Our team are bonding more than ever. We are being changeable and adaptive. Each day we are educating businesses that are ready and giving more time to those that are still hurting.
Working through the 2008 recession in the UK I witnessed some very bright and resourceful companies adapt and come out the other end stronger. I also saw many businesses put their head in the sand and not come out the other side.
If I could offer any advice it would be to speak to experts in each field, especially when you just want to bunker down and ride it out.
We have spoken to at least three accountants about our books and incentives this month. We have engaged our business coaches about structure and cost reductions. We’ve spoken with real estate agents about property costs, banks about finance. We have adapted our own payment terms, and like many of you, have had to adapt to flexible work arrangements. We have met with other business owners in our industry to compare notes on how we can flourish at the other end of COVID-19.
The shelves are starting to restock loo roll. The beer aisles will follow too. The sun will rise and fall every day this year and those companies that keep talking to each other will be able to reflect on the proactive steps they made to allow their business to flourish into 2021 and beyond.
This is an edited version of an article that was first published on LinkedIn.