Are You Having COVID-Business-Owner Stress?

Reset your business strategy.

“As we shift from response to recovery, the key for senior leaders is to make strategic decisions that will lead them to a renewed future state, however paralyzing the uncertain outlook may seem, writes Chris Howard for Gartner.

Specifically, “Garner sees the pandemic response in three phases;” respond, recover, and renew. “The duration of each phase will vary by country, industry, and enterprise — and even by business unit, product or service,” explains Howard.

  • Respond. Here you need to focus exclusively on stopping the bleeding.
  • Recover. During this stage, the first activity is creating “a plan to restore a scalable state.” The second is identifying the “capabilities you need to strengthen, refactor, reopen, rehire, rebudget, resupply.”
  • Renew. Here you need to educate on how to “conduct operations processes and workflows in new, repeatable, scalable ways.” And, “use lessons learned and emergent patterns from prior phases to coalesce around a new foundation and way forward.”

Howard adds that these phases will overlap. He also says that you need to build resilience by determining “exactly where and how the crisis has stretched and broken your existing models — and where the risks and opportunities lie as a result.” And, make sure that you reset for a sustainable future.

Manage your mental health.

Finally, make sure that you manage your mental health. Studies show that there is a relationship between unsecured debt and health. As such, you need to make self-care a priority by getting enough sleep, eating a healthy diet, and getting at least 45 minutes of exercise three to five times per week.

Furthermore, spend your leisure time doing the things that you enjoy, like spending time with your family or engaging with a hobby. And, discover healthy coping skills such as breathing exercises, meditation, reading, journaling, or talking to a friend over Zoom.

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