Plan, Not Panic

Every day new statistics on Covid19 victims, new information from government, new strategies for businesses , new concepts being developed and all are keen on watching the happenings.

Whatever happened is happened, what we can do about it now is Not Panic, instead Plan.

Planning is all about deciding in advance what to do, when to do and how to do. All this must be clearly identified. Lock down period is becoming uncertain.

The pandemic created new experiences and threats for people around the world. Economy is collapsing, fund rotation has become stagnant. IMF says that, economy was slow even before corona outbreak. Business entities are worried. At this stage first step is to plan what is to be done to survive.

Why survive?

Because we have customers. Our product or service is needed in market. Understand why wouldn't they need our product after Covid19. Fill the gap, address their pain area, that is the best service that can be given to your customer.

This period is now termed "The Great Lockdown" after the Great Depression in 1930. The lock down period itself is becoming unpredictable. How long will it take for corona to leave this world. Nothing is certain. But everything is relative.

As long as there is life on earth, there will ne need for food, shelter and clothing. If they need shelter, of course there is need of land & building. Where will building come from? It must be constructed. How do we construct? Using building materials. What are these materials made up of? Steel, Iron, Sand, Cement etc. Like wise for every item to exist in space, there is the need of a material.

Demand forecast after Covid is the first activity to be done. Then Plan. Set new goals. Begin with the end in mind. Prepare action plans on what is to be done, when to begin and when will that be completed, who will do it and how. Who will review the progress etc. is to be determined.

What every entrepreneur must do is decide what income you need per month. In order to achieve that, decide who will be accountable, how accountability can be assigned. Organize frequent meetings. Conduct regular monitoring and review.

We need to take VEIN approach. Planning is Vital, Monitoring is Essential, Information is important and Panic is to be neglected

Planning and goal setting tools are available. Review and Monitoring guidance and formats can be developed with customization.

At the end, review of the whole transactions happened is to be mapped to ensure that mistakes are not repeated..

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