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Finding opportunity in a time of uncertainty

05 Apr 2020 1290 Views

By: Omar Alhaza’a – Founder & CEO of Franchise Arabia (Miami, Florida) 

“Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow, or it can crash." - Bruce Lee

With the unfolding global coronavirus pandemic leading to people being confined to their homes, borders being shut and economic instability, it can be hard not to feel overwhelmed by the state of the world at the moment.

The past few weeks have been a tough ride on all of us. Many small businesses have been impacted overnight and we are now faced with a decision to make; adapt or die.

The messages that we're hearing from small business owners in the region and beyond, they're worried. They're panicked. Fear of the unknown is the new name of the game!    

In reality, small business owners had to either completely close their doors simply because there's no business coming in, or they've been mandated to do so. Or, their revenue is drastically reduced because of poor turnout to their businesses.

These are hard times!  Each one of us has been forced to change how we work, do business, socialize, exercise, shop, and manage our health.   Life and business as we knew it have dramatically changed in a very short amount of time.  

The question now is, where will this crisis take us?

How to adapt our strategy during a time of uncertainty, and what to anticipate after the crisis is over?

Well, what most of us have probably not yet realized is that things won’t go back to normal after a few weeks, or even a few months. Some things never will. This isn’t a temporary disruption. It’s the start of a completely different way of life!

Every dark cloud has a silver lining. Here’s the silver lining to all of this; small businesses are able to adapt to the situation better than large companies. It’s a given fact in the business world. Recognizing this as an opportunity to pivot our business is a great foundation for survival.

What’s really needed right now is a mindset change. This is a time to adapt, to advance with new thoughts and ways of doing business. Innovation is key. It may not make a difference for us in the next few weeks, but it will matter in the long run.  

We all need to think creatively about how to innovate and modify our service offerings to adapt to these changing times and behaviors. And to get there, it’s going to take resilience, and willingness to adapt to continue thriving as small business owners.      

The truth is every crisis moment presents an opportunity. Let’s not miss the opportunity to lead, to innovate, to rise above fear when everything seems impossible.  

If there were ever a time to “think outside the box” and be more creative, it’s now!

We all need some creativity to adapt to changing times going forward. This crisis will no doubt cause many difficulties for all of us, but it will also create opportunities for innovation across many industries. This is time for business leaders to take more risks, focus on what really matters, and embrace the opportunity to lead.  

We all must rise to the challenge. The business world needs courageous leaders with a plan to navigate this crisis. Do you have what it takes?

Remember; we are all one. We’re all in this together. The world needs us united. It may be the darkest hour of our life, yet every one of us can emerge better and stronger, together!