Board Members, company executives, financiers and world leaders across the globe are fully aware of the dent the Coronavirus is having on their sales, share prices, cash flow, growth and profits.
It’s why we’ve seen many big companies leaning on the government’s furlough schemes and bail out systems while also turning to the banking systems for aid or re-financing.
Meanwhile some business owners have been shamed for reaching out for financial aid despite their extensive personal wealth and assets.
The long and short of it is that this is a visible financial and economic crisis and things will continue to be personal and perhaps even NASTY in the weeks ahead.
Especially when it comes to getting paid.
The bottom line is that all these hand-outs, loans, re-financing schemes and deals will leave many companies hampered by DEBT for many years to come.
Debt doesn’t build energy.
It creates a short-term safety net and an illusion of security, especially for those making the financial payments month to month.
Debt also limits the company’s growth prospects. That’s because it tends to slow down business growth and acts like a big black cloud on confidence levels and feelings of safety for those in the know. A company deep in fresh debt hasn’t got the funds to invest or take RISKS like it did before to get ahead, maintain market share and gain a competitive advantage. And everyone feels the limitations of this new state of being.
However, for many companies and individuals DEBT is their only option.
In fact, some companies are already pretty desperate. The NOW is literally about their survival and the continuation of their business. And that’s a tough situation to live through. No company expected to be brought to its knees by an enemy that can’t be seen by the human eye.
And that’s why many leaders are struggling to come to terms with what’s happening in their business world at the moment.
It’s important to remind ourselves of the power and influence that private companies have on the global economy even with all that debt and struggle. Without Private PLCs or LTD Companies, entrepreneurs and sole traders, world-wide Governments can’t raise the taxes that they need to fund the public sector and essential workers.
That means we’re all interconnected in this Global pandemic, including everyone’s role in the successful or unsuccessful outcome.
No one is immune to this economic and financial crisis.
In short, you can’t hide away and believe this isn’t really happening, even if you want to. You can’t pretend you’re not affected in some way. Because even if you’re not taking a direct financial hit, someone in your family, someone close to you or someone in your community will be.
Therefore, be aware of what you can do and what is NOW required of YOU in terms of ACTION.
The best exit strategies out of this long and difficult tunnel have been discussed since the world went into lockdown.
Plans and new strategies have been thrashed out, drawn up and signed off. Now new things are starting to come into place, which means your world may shift soon.
That’s why this article is a shout out to YOU to start stepping up to the MARK, right now, while you have the time and clarity to do it.
Company leaders, across the globe, have started to take concerted and often major actions.
For these leaders it’s not about who or what’s to blame for this virus or when the current lockdown rules are going to end. It’s about making the necessary changes NOW to handle the shift in demand and serve their customers wherever they may be.
The “let’s sit and see what happens” approach, the “let’s talk about how bad things are” mind-set or the “how bad they could become” speculation is of no interest to them.
These leaders are rolling out their new plans and strategies and shaping the new world.
For them, it’s all about survival now. And this will lead to companies thriving over time.
But don’t be under any illusion: survival is TOUGH. It requires mental, physical and emotional strength.
And therefore these leaders need a workforce that adapts to this unexplored territory or terrain.
So here’s a question to you, ‘Are you up to the mark and prepared to work in this new territory?’
If you are not – if you’ve got lost in all the drama around the virus — you may find yourself on the wrong side of the company. And that’s not where you want to be.
So it pays to Be Aware. Be Prepared and Be Ready to step up to the Mark.
Do reach out for support or advice on how you can prepare for what’s coming.