Facing Covid-19 as a Small Business
What has brought us here?
The Covid-19 crisis has caused ripple effects in practically every area of our lives. Businesses and schools have shut-down. Humans are under lock-down. For many people, facing Covid-19 is going to be an extremely painful memory.
With rumours of recession on the cards and the recent downgrades by Moody’s, our economy is set for a tough rest of 2020.
As small business owners, it has caused many questions to arise. Whether we can continue working or not…
It has forced us to consider:
- Our cash flow situation
- Cutting down on unnecessary costs
- Sometimes that means short time for employees
- Debt and alternative relief available
- Pivoting our products and services
- Going online and working remotely
- Bringing in new leads to keep the pipeline full!
In the next few posts we will look at some of these issues. This will give you a toolkit to face the Covid-19 crisis successfully.
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But let's face the Covid-19 reality first
Covid-19 has brought with it a fair amount of loss. Whether that’s loss of business, income, freedom, or social interaction. We have already dealt with a lot of uncertainty and anxiety. But, it’s still helpful to understand what’s happening mentally!
Enter the grief cycle…
In Psychology Today, they reviewed the correlation between Covid-19 and the grief cycle. Let’s take a look at the main points:
- Denial – in an attempt to deal with the pain, we deny the reality that we face.
- It’ll never happen to me. I’m low-risk.
- This is all hype. It’s not actually real.
- It’s just flu. Who cares?
- Anger – to deal with our fear, we turn to blaming others. This is often accompanied by ignoring rules.
- It’s China’s fault. It’s all a conspiracy.
- Lock-down rules don’t apply to me. I’m going to do what I want to!
- Bargaining – we’re not quite ready to acknowledge that we don’t have control. Instead, we start making compromises.
- As long as I wash my hands, I can still see people.
- Once lock-down lifts, things will go back to normal.
- Despair – reality starts to set in. We resort to self-pity and hopelessness.
- I have no work. No money. Soon I’m going to be broke. There’s no end in sight.
- This changes everything. All my dreams are shattered.
- Acceptance – finally we can start taking responsibility for our actions!
- I can’t control everything, but I can wash my hands and be careful.
- Everything will look different after this, but there are lessons to be learnt. Things will also be better.c
Where are you at?
So, where are you in the grief cycle? Sometimes the grief cycle is more a round-about rollercoaster than a cycle. We don’t necessarily move in the order listed above. Nor do we always make progress. Sometimes we revert to an earlier stage in the cycle.
It’s okay. This is normal. And we’re all in it together.
This is a time for many things. Strategy, reflection, communication and self-care… Bu,t mostly, it’s about what you need right now.
This pandemic won’t last forever. It might change things, but it won’t last. There is so much hope, and excitement and new opportunities waiting for us all out there!
Resources for you
Below are a few articles that can help you deal with anxiety and uncertainty while facing Covid-19:
- Confronting COVID 19: Coping with Uncertainty
- Coronavirus Anxiety: Coping with Stress, Fear, and Worry
- Coronavirus Disease 2019 (COVID-19): Stress and Coping
- Depression Sucks: Here’s 11 Reasons Why And How To Beat Each One
If you want someone to talk to, brainstorm, or strategise with, we’re here! We will help determine what’s next for you, and your business. Simply set up a consultation session with Kristine below. We would be happy to engage and support you!