We are living in unprecedented times right now. I live in Tasmania, Australia and literally overnight our wonderful, thriving Hospitality industry has collapsed. It’s heartbreaking because it was becoming something so very special. Many small business owners have had to shut their doors, some knowing full well that they will never open again. Hundreds of thousands of Australians have lost their jobs in the space of a few days. I’m getting up there near the 40 mark and I’ve never seen anything even remotely like this in our country. There are people globally who have to deal with many more horrifying things on a daily basis. But for us privledged Westerners for most this is going to come as an enormous shock.
Change of this kind at this terrifying pace is extraordinary. Not even the Futurists have a clear idea of the direction our business communities and economy is headed into because the change is so rapid. No-one knows how long this pandemic will last, how many people will die, or how our economy and lives will be affected because the figures of people affected are still climbing. And climbing fast. Yes, a cure might be found tomorrow. But while that cure rolls out globally, there is carnage occuring right now and the reality is that many of us will be left with a pile of rubble and have to rebuild from the start. The problem is that in the past, with all of our forecasting and booming healthy economy, we could plan what to build quite quickly and with confidence and the injection of resources we needed at our fingertips.
So, as small business owners trying to hold on to your business - what should you do?
Abide by regulations which are changing moment to moment.
The quicker this bug is out of our lives, the faster we can all group together again (closer than 1.5 metres even) and work together to rebuild. Also, nobody is going to be loyal to the asshole business owner whose clear self interest made them money while everyone else who was acting responsibly suffered.Don’t count on government funding or hand outs from anyone.
Who knows what the investors are doing right now or thinking about (not true actually, they are certainly figuring out how to profit out of this). Don’t rely on anyone else and then if anything else that arrives in your bank account as a support payment is a bonus. And on that, it is extremely important to also know what the governement is offering to support your small business and ensure you take the neccessary steps to secure that. At the same time be aware that Centrelink is swamped and My Gov will continue to crash because it hasn’t received enough investment to deal with an economic crisis of this capacity. So rather than wait in a line , if you have the ability to hold steady and seek your payments when those more in need have been catered for do that.Only think outside the box.
There is no “in the box” when it comes to business decisions right now. Consider human behaviour, consider what our new lives might look like shortly. In Tasmania particularly, we will probaby go back to producing and purchasing locally in the immediate short term. We have no idea how the postage system is going to be affected. It’s holding up now (I think). But exporting goods and services right now is an uncertain business. But providing services online might be an area of demand which will grow. We know the hygiene businesses are raking it in right now. And that our government services are heaving with the pressure being placed on them.Take stock of your available resources.
Now, that doesn’t just mean thinking about cash deposits, assets, labour and capital anymore. In all honesty, this is all happening so fast that no-one even has any idea how the property market and stock markets are going to react (apart from the hygiene businesses and fuel in the short term but this could all of a sudden change again). Right now, our friends and family and their available skill set could be our new top priority. All of a sudden your home and what you have on hand could become your future source of income. And on that point, your level of self-sufficiency at home is about to be tested. So if there are any easy, quick things you can do like set up a vegetable garden, lock down your heating etc. now is the time for that too.Expand your mind.
Get creative. If you’ve lost employees, it’s time to think about who you trust and can lean on to bounce your ideas off. Those that care about you and that you can count on are going to be vital here. Figure out what gets your creativity flowing. Jogging, the great outdoors, a long bath, gardening, yoga, meditation. Whatever. As long as you’re 1.5 metres away from everyone else apart from your immediat family (ha, ha). Here is your problem to solve, what do I have access to? And how can I put those resources together to provide this new consumer society something of value? A simple, straightforward example are the Hospitality businesses who are now offering takeaway and delivery. And consider the big questions everyone is asking. If the result of this is that imports and exports stop, what will people turn to to create a new, positive, thriving community? If there’s a cure tomorrow and it rolls out and we are ready to go in another month, how will we rebuild and get going again? Is there a new demand and need emerging that I can jump onto and serve given my current resources and skill set?Pivot. Now. Fast.
Those who have been focusing on being a nimble, agile business are now in a better position than others. If you feel yourself thinking you got too complacent and comfortable that’s ok. But accept it as a learning and move on rather than dwell on that. Start doing something, anything. Even if it’s cleaning up your administrative paperwork if creativity is beyond you right now. Or learning a new skill online that might help once the dust settles however that is. Settle in to the new, slower pace of life and do things that make you happy and hum. This is where the creative magic often happens.Find hope and keep on finding it.
Everyone is stressed. Everyone is scared. Everyone is frustrated. Be kind to others and help others where you can so we can build strong, supportive communities. Respect others and protect those you love as well as yourselves. Don’t lose sight of your own dreams but also know when it’s time to let go and stop pushing in a direction if it feels like you’re pushing shit uphill.
A note about the author
I’ll be writing more as this situation unfolds. I’m currently choosing to self-isolate because a child in my daughter’s Kinder class was pulled out yesterday with a fever. So I’ve made a call to make sure we protect others around us and will be bouncing off the walls for the next 14 days. I’m making plans, just like you all should be, to launch myself and my own business again when the dust settles. Like us on Facebook or visit www.saltbrands.com.au for more.