Life transitions are the product of an unfathomable future. None of us know what the future will bring, and that can be scary or exciting depending on the size of the shock waves and how prepared we are.
Six months after the start of Covid-19, masks, and gloves are at the ready, the sight of markers distancing out two meters at queue points and understanding the etiquette of the social-distance-dance is the expected normality as we emerge from our cocoon lockdowns. I love the smell of sanitizer on the high street. This is no joke; the threat of the virus isn’t a joke and the impact it has had on British business isn’t remotely funny because managing a business, in part, means understanding the future – It is unknown and therefore needs to be guarded against unknown risk.
In lockdown terms, it is measures of preparedness for the near-term future.
The UK had a four-pronged plan which arguably claimed to be ‘well prepared’ for Covid-19. For a business mitigating against risk, being well prepared also applies. A clear strategy informs decision making and supports planning – Plan. Strategy. Review. The more effective (expert) the information is that is applied to a plan, the more effective a strategy becomes, and the quicker weaknesses are exposed. The more credible a plan becomes, it can grow stronger and in the right direction.
In response to the implications of the Pandemic, business owners of all size and shape are currently needing to look more closely at the impact against revenue and costs, which means re-visiting their information: forecasts, comparisons and looking to how the uncertainties have, and will, affect the numbers and from those numbers deduce what can the business tolerate on a bad day (that makes the good days even better).
Being equipped to transition through changes, especially the huge ones and the never expected ones, might require some restructuring, difficult decision making, and implementing revisions to business practice. Facing uncertainty means, more than ever, thinking about several different outcomes.
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