How can business owners know what to trust
11 March 2020 will go down in history as the day that triggered the most immediate shift in global human behaviour to date, and the shift is still happening. Whilst we have seen recessions, depressions and real fear (two World Wars & A War on Terror stand out), economies have pulled through, and we have always recovered. For many not old enough to vividly remember our last recession – this could be a new experience. It is so important that people work together in times like this, to combat really unique challenges. Trust will be critical.
People are anxious about many things right now; Physical Health, Mental Wellbeing, alongside Economic Stability, are just some of the more prominent anxieties we’re connecting with. Meanwhile every person, community and business face their own challenging set of circumstances to navigate. What brings us closer is a sense of unity – even while in a state of grieving.
Additionally unique to 2020 is the decentralised and over-sourced access to information that we all have – social media, fake news and the blur between fact and opinion are driving our conversations. I am encouraging people to check the source of any information they are relying on, before perpetuating it in conversation. Remember, you cannot un-see something, and once an idea is lodged in our brains as the truth, even if it is dispelled as a myth, the notion of that idea has been created and we will want to hold onto it. (I thought the dolphins in Venice were real for the longest time, with clear canals, I’ve finally accepted my fate!).
I personally am relying on Health.gov.au as well as Worldometers Daily Australia for data updates, both of which can tell you if we are flattening the curve. I urge people to read and consume information from sources they trust. McKinsey&Company, on 25 March 2020 released comprehensive and valuable briefing materials analysing the global market impact – including looking at intention data. Ensuring your sources are properly informed ensure you are properly informed.
Something all leaders and business owners are finding incredibly hard to manage is the uncertainty this new world of self-isolation brings upon us as individuals and on our teams. For us, we’re reverting our planning and programs into six-week blocks, to find the balance of short and long term adjustability, while checking key initiatives weekly instead of quarterly which is our common strategy. It’s about keeping us agile as a business.
We are all learning. As we embrace the third week of working from home, leading and managing teams, keeping them aligned and focussed we’ll be presented with more challenges to overcome.
One thing to watch for this week, if the Job Keeper program announced by the Australian Government yesterday begins to lift consumer confidence moving forward.
I’ll continue to share what I consider reliable and trustworthy information sources, please do the same. I’ve also recently started doing a #vlog as I am often struggling at the moment to find time to write what I am learning. It’ll be on my YouTube.
Also published on Medium.