Home » Blog » Don’t Be Fooled…
April 1st, 2020 // 2:21 pm	@ Scott Manning
No doubt, Coronavirus is not a joking matter. So, we’ve got to save the April Fool’s stuff for another year.
That said, there is a responsible way to approach this crisis from a business perspective and it’s not what you’ll immediate think. I’ll share over the next couple of weeks how to remain wise and never be the fool.
We’ll call it: Mitigate and Maximize
As I keep saying with everything: there are two sides to the story. Such as the quantity of deaths going up but the percentage of deaths going down. Two sides. Number of infected people going up (because of more tests) but hospitalization rates going down.
In your business, with everything that you encounter, you have to always make sure that you mitigate damage, loss, risk, and negative impact.
If you are shutdown (like so many of my great Doctors are having to suffer through right now), you have to mitigate the financial loss and that is the first thing everyone thinks about because it is the most ‘real’ and easy to calculate. After all, money makes the world go around – and people learn the truth of that in times like this.
BUT, is money the most important thing to mitigate?
You do have to protect your business and the security of it. Still, for a business like the ones reading this – money is a short-term problem, always. It’s make-up-able.
On the other hand, the real thing that you have to mitigate are the damages done to the human assets of the business. The loss of customers, clients, patients – because they are forced to stay home or because you are being restricted from your livelihood.
No matter what, it’s not the customers’ fault either. You are there leader, you have to take responsibility for how they think and how they react to situations.
You want to mitigate the negativity and the consequences of something like this – the circumstances and reality of the virus – from damaging your greatest asset of your business.
The same goes for your team (perhaps your “staff” or “employees”). You really have to mitigate the loss and damage to the them as well.
Why does this matter so much? Well, it’s pretty obvious, when you come back to work, to your business, to do whatever you do…
You can’t come back very swiftly or successfully without both sets of these people.
Money, it will flow again, but only if the people flow first.
One of my great mentors and special friends, Dan Kennedy (who is in the midst of the greatest health comeback story perhaps of all time, alive and getting better by the day), said something one of the very first times I ever listened to him, “If you can’t make money without money, you can’t make money with money either.”
That’s because MONEY isn’t the Business. The people are the business that therefore results in money.
So, I ask you what are you doing to mitigate the damage, loss, risk to your greatest assets throughout all of this Coronavirus Crisis?
What are you doing to PROTECT the part of the business that isn’t replaceable, at least not easily.
I have said before, you can either let this go from a
SHUT DOWN to a DOWN TURN or from a
SHUT DOWN to a RE-TURN.
The speed at which you do that will come directly from how effectively you have focused on mitigation.
Right now the Country is working hard to mitigate the spread of the virus. I hope you are doing a lot more than just that in your life and business.
BUT, that isn’t all you should be doing. In fact, the most important part still remains (and it’s where the real difference in profit is at). It will determine whether you struggle through the rest of the year or persevere to make it the best year ever.
We’ll go there next week… what and how to MAXIMIZE!
Home » Blog » Don’t Be Fooled…
April 1st, 2020 // 2:21 pm	@ Scott Manning
No doubt, Coronavirus is not a joking matter. So, we’ve got to save the April Fool’s stuff for another year.
That said, there is a responsible way to approach this crisis from a business perspective and it’s not what you’ll immediate think. I’ll share over the next couple of weeks how to remain wise and never be the fool.
We’ll call it: Mitigate and Maximize
As I keep saying with everything: there are two sides to the story. Such as the quantity of deaths going up but the percentage of deaths going down. Two sides. Number of infected people going up (because of more tests) but hospitalization rates going down.
In your business, with everything that you encounter, you have to always make sure that you mitigate damage, loss, risk, and negative impact.
If you are shutdown (like so many of my great Doctors are having to suffer through right now), you have to mitigate the financial loss and that is the first thing everyone thinks about because it is the most ‘real’ and easy to calculate. After all, money makes the world go around – and people learn the truth of that in times like this.
BUT, is money the most important thing to mitigate?
You do have to protect your business and the security of it. Still, for a business like the ones reading this – money is a short-term problem, always. It’s make-up-able.
On the other hand, the real thing that you have to mitigate are the damages done to the human assets of the business. The loss of customers, clients, patients – because they are forced to stay home or because you are being restricted from your livelihood.
No matter what, it’s not the customers’ fault either. You are there leader, you have to take responsibility for how they think and how they react to situations.
You want to mitigate the negativity and the consequen
ces of something like this – the circumstances and reality of the virus – from damaging your greatest asset of your business.
The same goes for your team (perhaps your “staff” or “employees”). You really have to mitigate the loss and damage to the them as well.
Why does this matter so much? Well, it’s pretty obvious, when you come back to work, to your business, to do whatever you do…
You can’t come back very swiftly or successfully without both sets of these people.
Money, it will flow again, but only if the people flow first.
One of my great mentors and special friends, Dan Kennedy (who is in the midst of the greatest health comeback story perhaps of all time, alive and getting better by the day), said something one of the very first times I ever listened to him, “If you can’t make money without money, you can’t make money with money either.”
That’s because MONEY isn’t the Business. The people are the business that therefore results in money.
So, I ask you what are you doing to mitigate the damage, loss, risk to your greatest assets throughout all of this Coronavirus Crisis?
What are you doing to PROTECT the part of the business that isn’t replaceable, at least not easily.
I have said before, you can either let this go from a
SHUT DOWN to a DOWN TURN or from a
SHUT DOWN to a RE-TURN.
The speed at which you do that will come directly from how effectively you have focused on mitigation.
Right now the Country is working hard to mitigate the spread of the virus. I hope you are doing a lot more than just that in your life and business.
BUT, that isn’t all you should be doing. In fact, the most important part still remains (and it’s where the real difference in profit is at). It will determine whether you struggle through the rest of the year or persevere to make it the best year ever.
We’ll go there next week… what and how to MAXIMIZE!