Pivot
DON’T
Procrastinate

On the 31 of December 2019, I remember planning with enthusiasm on how I’m going to execute my 2020 vision into scalable achievements. I had all my ducks in a row and nothing was going to stop me or come between me and my 2020 goals.

Fast forward to the 23rd of March 2020, when our president announced the state of emergency and the imminent lockdown period, saw all my plans and the meticulous process I had put in place to achieving my goals disappear in front of my eyes, despair is what I felt that evening.

The novel COVID-19 pandemic had hit our shores. And I remember, when the first case of COVID-19 was confirmed, I was sitting at the OR Tambo airport making my way to Durban, where the case was discovered. I was attending a women’s summit hosted by Forbes Africa which I had planned on attending no matter what.

When I heard the news, I honestly did not anticipate that within two weeks our country would be on lockdown. The impact that the lockdown has had on many businesses is mind-boggling. Jobs have been lost, the Unemployment Insurance Fund (UIF) has up to date paid out more than R9.4-billion to 123,000 companies and R1.6-million employees and this is just for COVID-19 claims, according to the UIF Commissioner Teboho Maruping.

I believe that the true impact on our economy is still going to be felt post-COVID. The financial distress in all industries, financial markets, and the magnitude of the disruption in the global economy remains to be seen.

These are unprecedented times in our economy, we have seen big businesses being closed down for weeks, sending shock waves and frustration across the world.

I have been mostly concerned about the small business owners and the dire consequences this lockdown has had on their businesses, we know how much most of them are dependent on walk-ins.

This time in our lives calls for most entrepreneurs to dig even dipper into their gut, to dive into the same “do or die” mantra that got them started as a business person. It is a swim or sink situation and as an entrepreneur myself, I cannot fully explain the anxiety brought on by such a financial strain, let alone one that is completely out of your control.

I’m going to share with you 5 ways to navigate your business during this covid19 pandemic:

1. Pivot do not procrastinate – for the first week of the lockdown, you might have been somewhat disoriented as to what to do and how. But, it’s been 2 months of lockdown now for most businesses and if you are one of those businesses, then you must augment your way of doing business. Look at the platforms within your business that you haven’t fully utilized, ( e.g online platforms, Instagram, Facebook, E-commerce) and look at how this can benefit your business at this time. You might even need to supplement your standard offerings in order to tap into a different and or wider market. Don’t procrastinate, don’t waste any more time, pivot now.

2. Engage with your clients/audience – this might not yield an income for you right away but it’s a good way of staying relevant and in your customer’s minds. Use the online platforms that I have already mentioned above. You are doing this for when you are able to trade again (in a traditional way). At a time like this, creativity and tenacity are a MUST for most businesses. See how you can match the needs of your customers by being creative and of course, remaining compliant to the new regulations governing your industry.

3. Reach out – now it’s not the time (never has been, really) for competition but collaboration. Now is the time for business owners to reach out to each other, different industry or same and support each other, collaborate, and share crucial and business life-saving information amongst each other in order to save each other, their businesses, and the livelihood of their employees.

4. Speak to your financial advisor/bank – there is a Zulu proverb ”ingane engakhali ifela embelekweni” that when loosely translated, means “a child that doesn’t cry, will die in its sling. The simple truth is, if you do not seek help, you will not receive the assistance that you are in need of. Speak to your bank, find out what programs, relief offers they have for distressed businesses. With that said, do you remember the legendary advice? “always keep a good record with your bank?” It is at times like these, that you will understand why this is such crucial advice.

5. Be kind to yourself – do what you can, seek help and professional advice but most of all, be kind to yourself and remember that you are an entrepreneur, that will never dissipate, COVID-19 or NO COVID-19, you were born to rise above stormy waters and reach to higher grounds. You were born to lead and create a livelihood for others. As they say, smooth seas have never made a skillful sailor.