Recreate and Redesign Your Business Amid Lockdown: BEx Ask the Mentor

In the current situation, when your business is going cash-strapped and grappling for survival; you need to apprehend forthcoming losses and resort to new ways
  • BY Jaspreet Kaur

    Feature Writer, BusinessEx

  • |
  • Apr 13,2020
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  • 14 Mins Read

As nature changes its course, humans need to transist their mode of living and surviving. In the current situation, when your business is going cash-strapped and grappling for survival, you need to apprehend forthcoming losses and resort to new ways. It is the time when you need to redesign their business as well as their life. 

To keep your business running during lockdown, BEx Ask the Mentor organised a webinar with Moloy Chakravorty helping entrepreneurs to remould and reconstruct their enterprises. Due to Coronavirus, the world will not be the same again. It has changed permanently and the way businesses are operating now, are examples of it. 

High Anticipation in the First Quarter of 2020 

For businesses, the previous year (2019) was not a great year. Thus, you, being entrepreneurs like others in your niche, had set high aspirations with the current year. You were committing yourselves to grow businesses exponentially. As a result, you were taking important decisions like upscaling and bringing a new system in the business.

With the onset of lockdown, things have changed drastically in the economic, social, personal and business sphere. Amid this crisis, you become confused and start doubting your capability. When darkness surrounds your mind, it is a cue that you need a reality check and should ask these questions from yourself: 

  • Are we living a planned life or living life on a day-to-day basis?
  • Are we unclear about where our career progression is?
  • Are we worried about our financial situation?
  • Is health a concern?
  • Are we in control of our personal development?

Be Optimistic, Use this Time Mindfully 

The lockdown is a blessing in disguise for everyone. It has given you time to step back and see where your life has gone, what you have done with your life. Generally, every individual would have kicked off his career as a business owner or as a professional with some personal or professional goals in mind. 

In the rut of living your life on a day-to-day basis, you have forgotten about your aspirations. 

Redesign Your Life 

In this pandemic, you have to redesign your life so as to lead your business properly. Basically, you have two options, which are: 

  • Look at the other side of the hill and imagine a beautiful world.
  • Otherwise, sit back and crib 

This is the time when all companies are looking for opportunities as to how they can make a differential impact. Financial crisis of 2008-09, a terrorist attack in the US, and dotcom bust were some intense situations that today's entrepreneurs have dealt with. From there on, people with the right goal and mindset have been able to make a lot of wealth and impact in their lives. 

The companies who continue to ace and sustain this dire situation are those that are highly adaptive. Mahindra & Mahindra, which is originally an automobile company, is currently manufacturing ventilators. Recently, the automobile firm has decided to produce sanitizers as well. It is sustaining in the business because of its adaptability factor. 

Law of Success 

The universal law of success is the law of cause and effect. If you are in a financial crisis today, then you did not save enough money or spent too much money. Or else, you did not know what to do with the money. 

Cause and effect are natural; what you saw is what you read. In whatever situation you are in, you are in some sort of denial. 

Bed and Old Model 

There is a point of power and below the power is BED (Blaming and Denial). Generally, people are happy blaming others and in the world of denial. On the other hand, if you believe that your life is your own. Then, you should be above the point of power and talking about in terms of OAR (Ownership, Accountability and Responsibility). 

This downturn may help you to change the root. It should not allow you to change your goals and this can only happen if you have a concept.

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