The Coronavirus is a Black Swan Event, no one could have predicted.
Even Mark Cuban, the billionaire owner of the Dallas Mavericks, has called the Coronavirus a Black Swan.
Countries and cities couldn’t have planned this. San Francisco is being quarantined until April 7, 2020.
With everyone self-quarantining themselves and cities forcing businesses to shut down. It has business owners worrying about the future.
Sharran Srivasaa, the CEO of Kingston Lane, and the man behind growing Teles Properties to $3.4 billion has advice for these affected business owners. The type of advice that will help you thrive during the Coronavirus.
Sharran says you have three options:
2. Give away the store.
3. Get a new formula and “raise” money on your terms.
And if you have what it takes to be successful, you would have chosen option three. So here’s Sharran’s 4-step process to profiting off the Coronavirus.
1. Re-evaluate Your Companies Goals
“Things don’t always go as planned, but it’s when you make a plan out of the unplanned and make the best of the unlikely things in life.” – Oscar Auliq-Ice
The Coronavirus has flipped the world on its head. There’s no denying it. Since the world has been flipped. Because your goals were made before the virus, so has your business
Right now, you need to change your plan of attack. It’s time to adapt or die.
What you want to do is re-evaluate your goals for the next 90-days. Figure out what needs to happen in these next 90-days for you to thrive and profit.
Set new goals and achieve them like you normally would.
2. Define How You’ll Measure Your Goals
“What gets measured gets managed.” – Peter Drucker
Your new 90-day goal needs to be measured, so you can track its progress. Tracking your progress will tell you if you’re getting closer or farther.
This is very simple to do. Find exactly what you need to measure for this goal to be achieved and then go on to the next step.
3. Create The Strategy You Need That Helps Support Your Success
“If you fail to prepare, you are preparing to fail.” – Benjamin Franklin
You need to have a plan. If you’re not organized in your approach, you’re like a chicken without its head. Running around all over the place. With people laughing before they eat you.
Having a strategy in place will help you focus on what needs to be done. So instead of being like a four-year-old who’s easy to distract. You’ll have sniper-like focus.
A strategy will lay out a process for you to follow, so you’re not making things up as you go. You cannot neglect your strategy.
4. Execute Immediately
“Success loves speed.” – Craig Ballantyne
You must immediately execute on your strategy. You need to take massive action. It’s the most crucial step to thriving and profiting off the Coronavirus.
Too many people dilly dally on this part because they want to make things perfect. Stop. Perfectionism kills more dreams than procrastination.
If you’ve followed the first three steps in Sharran’s 4-step process, you’ll have everything you need to be successful.
You’ll have a goal to focus on. A way to track it. A game plan. And all you need to do is execute.
Don’t let the Coronavirus screw your business over and put your goals on hold.
If you have a team, show this to them. Discuss it. Make sure they’re aligned with your new goal and work towards accomplishing it, together.
Using Sharran’s 4-step process is how you’ll be able to profit and thrive from the Coronavirus.