The human toll of this pandemic is tragic and the economic cost is devastating. You are not alone in wondering how it will fully unfold. The much watched curve is flattening but will the bears in the stock market now go on a fresh rampage? Should I diversify and expand my business? Should I quit my job and pursue my long awaited dream of starting my own business?
I dont think, anyone knows the secrets of the new playbook, the mainstream media is not of much help and so it is time to write your own.
Fear is a powerful and convincing emotion that can paralyse you. Fear of the virus is far deadlier than the virus itself and stops us from thinking clearly.
However, when faced with an abyss of uncertainty is when real entrepreneurs stand up.
Crises are horrible, but they do force us to think hard. Instead of being mired in anxiety, it is worth embracing uncertainty and choosing well.
McKinsey & Bain say that the pathway to success in a downturn is to act fast, make the changes that are required, and be thoughtfully aggressive — ahead of the recovery.
The Govt. incentives, tax breaks, asset writeoffs etc are unlikely to be repeated after the massive budget blowout. Interest rates are at historic lows and the banks are friendly and understanding in a manner totally uncharacteristic of them. At Quantumblast, we are focussing on developing new products, opening up warehouses in new locations and are doubling our bets on the future. We are also offering big discounts on equipment to our customers to help them start their dream business or to add an additional source of revenue.
By embracing uncertainty, you can be one of the few people who will roar out of the recession!
You can exit the downturn stronger than you went in. Stay safe and stay positive.