The extent and depth of the damage caused by Covid-19 were unexpected. The fallout from the impact of the virus will likely echo into the months and years ahead in a variety of forms: economic damage, personal difficulties, and business disruption, among others.
But a few things are certain. First, this too shall pass. It might be a cliche but, eventually, things will return to some level of normalcy. The United States is a fundamentally strong nation with a healthy economy and, as a people, we will endure. Second, another crisis will come along after Covid-19 is just a memory.
Time will tell if we were prepared enough for Covid-19. What we can guarantee, however, is that we are prepared for the next crisis that comes along. So how do you go about ensuring that you’re ready for the next disruption? Continue reading below to find out.
Use the Good Times
Remember the fable of the ants and the grasshopper? The ants spent all summer gathering and storing food for the winter while the grasshopper played music. When winter came around, the ants had food and the grasshopper went without.
Be the ant, not the grasshopper. Use times of plenty, not just to gather and store resources for the future, but to future-proof your business. Use good times to make plans for business disruptions and organize your firm for maximum flexibility. That way, when the hard times come knocking, you’ll be well-prepared.
Use Technology
We’ve already written an article on some of the tools you can use to remotely work from home. But technology has benefits beyond just allowing us to work from home. Cloud software allows us to secure our data and make it accessible from anywhere on the planet. Video conferencing software allows us to stay in contact with our clients from a distance, even if they’re unable to come into our offices. And budgeting and bookkeeping software allow us to keep a close eye on our finances to ensure we have a rainy-day fund set aside for leaner months.
There are reams of technology available all over the internet to help us shock-proof our firms. And while we’ll still suffer some of the ill effects of an economic downturn, that technology can turn our firms into lean and flexible organizations able to adapt to almost any situation.
Have Fail Safes in Place
Every plan needs a backup. Just as you want your organization to be lean and adaptable, you want backup plans in place in case that key employee comes down with an illness or you lose your internet connection temporarily. You should have a backup plan at the ready for every key technology and component you rely upon.
Final Thoughts
These are difficult times. We extend our sympathies to anyone affected by Covid-19 (which is almost everyone these days). But let’s use these hard times to the best of our ability to mitigate the damage of future crises. We owe it to ourselves, our colleagues, our clients, and our loved ones to be as resilient as possible.