Confidence amidst chaos
A few weeks ago I wrote a blog titled, “Why you should ignore Tesla and the Coronavirus.” I wrote it before the massive decline in the market and mass hysteria in the US.
The article was written to a long term investor. I encouraged them to avoid panic-selling when it feels like the sky is falling.
Yet since then, COVID-19 has taken the world quite literally by storm. It’s impossible to ignore the virus now, not as a long term investor (I still stand by my recommendation not to panic sell), but as a human.
Cities are shutting down: schools, universities, sports, events, businesses…we’re in unprecedented times.
The most gut wrenching conversations I’m having lately are with some of my closest friends, discussing whether or not their businesses, their livelihood and life’s work, can sustain the shut down.
We are all dependent on another’s ability to spend money in some way, shape, or form. It’s how a capitalist society works. But when business is mandated to halt, money stops passing hands, and things get dicey.
I am confident the US will get through this. And I believe that, no matter how hard they are, these catastrophes can be catalysts for innovation. New lines of business and restructured business models will be born out of this.
Businesses will find new, more effective ways to bring in revenue.
Personally, I’m forced to see what it’s like to build a completely virtual practice. And in just a few days I have learned how inefficient some meetings in person are.
I’ve also really leaned into our homeschool/home life routine. I’m out of the house during most days, so there is opportunity for family time that otherwise wouldn’t exist for me, and I’m enjoying taking advantage of it.
More hard times are ahead, but I encourage those who are worried about their business to see this challenge as an opportunity to innovate.
Action is the antidote to stress, worry, and anxiety. Whatever this time looks like for you, I know the answer isn’t to sit back and wait. Move forward. Today’s steps will completely change the trajectory of your (and my) life.
Oh, and stay home if at all possible. It will be a couple long weeks, but we are all better off if we do.
Follow me on Instagram
Connect with me on LinkedIn
Subscribe to our No Bonds podcast
Learn more about Beck Bode