Covid-19 could prompt a life priority rethink
Being forced to confront your own mortality can be sobering.
A bout of the Covid-19 virus at the end of 2020 laid me low. Normally a standard flu virus will be serious, but it is rarely life-threatening for someone in decent health. But with the Covid-19 fatality statistics so prominent in the news, it was an uneasy time for both myself and my family. I was only able to truly relax when I realised the limited extent to which the virus would impact on me.
Although I was never hospitalised, it made me realise just how debilitating the virus is. It also brought home to me that the Covid-19 virus does not just affect the individual. For every person who catches it, there are family, friends and business colleagues who are impacted.
During my convalescence, I reflected on several issues that have been at the forefront of my mind over the past year, including how the Covid-19 pandemic has potentially impacted on those of us who run our own businesses, forcing us to reassess our priorities.
We are wealth creators
We are fortunate that the pharmaceutical industry has risen to the task and succeeded in coming up with several vaccines so quickly. As I’m writing this blog article, the news bulletins are reporting that the authorities have approved the Oxford/AstraZeneca version of the vaccine.
In some ways, I think the way scientists responding to the desperate need for a vaccine reflects the nature of markets and business over the years. People like us have created innovative, forward-thinking businesses because we saw a need or a demand for a particular product or service.
We grow and create wealth; we are wealth creators. That is the way things have worked for years. In the same way, scientists and the wider pharmaceutical industry saw a need and fulfilled it.
What is important?
2020 was a challenging year. Certainly, the most challenging for a generation, if not since World War 2. As a business owner yourself, you may well agree with me that the events of the year have perhaps permanently changed the way things work and how we view both ourselves and our businesses.
I know of many people for whom the Covid-19 pandemic has been a challenging wake up call. In simple terms, many of us have reconsidered what matters.
Part of that reassessment for many has been to face up to the fact that maybe it’s more about what you need rather than what you want.
Are you looking to take control?
In my book, Seasons of Wealth: Because it’s about more than money, I outlined, in high level detail, a ‘seven step guide to escape’ for people who feel they are becoming worn down and are looking for control and clarity in their lives. The book is designed for people looking to move on, whilst ensuring both they and future generations of their family could both enjoy the fruits of their labour.
This is not the time to rehash all seven steps, but I’ve picked out two that I feel are particularly important in the current climate, and how the Covid-19 virus has impacted on the issues they raise.
1. Carve out time to think
This is particularly important given the turmoil around us now. Creating clarity in your own mind, even if there is much uncertainty elsewhere, can be invaluable.
We owe it to our families and loved ones to be able to think clearly and rationally about the future, and how we approach the challenges ahead.
Don’t be afraid to think the previously unthinkable. Not feeling you are in control can be stressful and debilitating. So, maybe now is the time to look at your business afresh and find a way forward that entails you not being dependent on it, but – rather, independent of it.
My guess would be that many of you may well have that internal dialogue as you confront what is important.
2. Avoid making assumptions
We’ve seen a lot of articles talking about the post-Covid-19 ‘new normal’ and how this could impact on all aspects of our lives. To my mind, Covid-19 could be a big game-changer in the way businesses operate. Change can be alarming, especially if it’s unexpected and leads to uncertainty, but with change comes opportunity.
The key is to remain agile and avoid making any assumptions about what will happen in the future. Assumptions and preconceptions can be a block on progress. They can act as a ball and chain, holding you in a place you don’t want to be.
If things are going to be quite different, doesn’t that create new opportunities for business owners looking to take control of their life and move on?
Building on that thought, if they are looking to take control and start to harvest their wealth, avoiding preconceived assumptions can make the decision-making process all the more rewarding and effective.
Get in touch
The events of the past year have forced all of us to look at our lives and businesses and consider what is important and what really matters.
It would be perfectly understandable if you felt that you wanted a big change in your life, and to start looking for a new life and new challenges.
If you do want to go down that road, or even just have a conversation about the viability of such a move, please get in touch. I’m sure I’ll be able to help you.