The year has gone by. Omicron cases are rising in the country. Your resilience in the last couple of quarters has held off the crisis from impacting the business and some progress is happening now. It is a tricky situation in that you see some progress and then omicron strikes. It is likely to continue the same way and is likely to get better.
This is a situation wherein it is a zig zag journey to the mountain tops. Well at the end of it, what matters is ‘how good is your cotton’. Let us examine how to plant things properly this year. From my limited experience of 9 years in running a business key learning is that the world can change overnight, like it happened with Covid.
A few things that can be done at our end as an entrepreneur.
1. Focus on what is in your control
Most of us are in the habit of blaming external circumstances for a bad relationship, insufficient results and a slow but tricky terrain for recovery. The idea is to make the business model stronger. The weakness could be in marketing, in a strength which is no longer viable or desirable, or in building a structural way to pole-vault in an uncertain world.
It could be changing operations to digital mode, investing in a website if you don’t have one already, looking at personal branding and building relationships through your on-the-ground networks as well as the online route.
These things are doable. What have we at Ashiana Financial Services done?
We have shifted to a digital way of functioning for most transactions, adopted a user-friendly way of sharing information through snippets as most people suffer from digital fatigue, added broking to our suite of services in a full wealth service and broking model.
Is it enough? Absolutely not, as the broking and wealth businesses are linked to Capital Markets. One whiff international disturbance and sentiment changes for a few weeks at least. Further, de-risking will be required as the need to replicate emerges. Other revenue streams become important. That said, investments are picking up as the markets have a limited downside.
2. Maintain your emotional and financial health
Not meeting people enough can be a source of unhappiness. We are a socially wired species and need in-person interactions for our wellbeing, if not survival. That said, precautions need to be taken while socialising and working in the future.
If you have enough funds for fixed expenses at a business and personal level for 24 months, you are in good shape. That said, the crisis hits us when it hits our minds. A leak in the boat causes a problem. If addressed timely, things can be changed. If the emotions and the financial foundation is sound, there can be some warmth even in the Arctic.
May our inner strength help us create our own version of an ideal world. Carpe diem!