When news of the pandemic spread, companies began considering how it would affect services, supply chain, employee engagement, and business continuity. Many business owners quickly discovered what was missing from their business model, like multiple revenue streams, delivery systems, and relationships with their funding institutions.
Initially, you might have also noticed gaps in your reserve accounts, wondered how you were going to pay your mortgage, and payroll. While trying to stay upbeat for your team, you still had to deal with the brain drain of the ever-changing rules to apply for emergency funding.
Navigating The Game of Whac-A-Mole
“At the beginning of the pandemic, it was a daily game of Whac-A-Mole,” says Sharon McRill, CEO of Betty Brigade, a home organizing company. There were days that I was so mentally exhausted from trying to figure out how to get funding with the constantly changing rules. Like a lot of business owners, I questioned if I wanted to continue my business.”
In addition to changing rules, terms, and forms, businesses had to wait a long time for funding. “Thankfully, a local source put together a grant-funding program that I learned about and received funding within 10 days.” It was also funding I don’t have to worry about paying back, like it is with loans.” says McRill.
One of the biggest concerns on the hearts and minds of every business owner was cash flow to continue to pay their team. While grants, funding, and other emergency assistance eventually came through to stabilize matters, the pandemic continued longer than many anticipated.
How Do You Find Your Resilience?
The lingering effects of the pandemic had many leaders ask themselves how they were going to recover. For many business professionals, the biggest thing missing in their business was something to look forward to. According to McRill, “It didn’t take me long to figure out just retiring wasn’t an option. While I had some things in place for my retirement plan, my exit strategy was incomplete and I needed to make the business buy-ready, which would take years. The exit plan actually gave me renewed energy to keep going. I had something to look forward to.”
Addressing Self Care
Not only can identifying a goal influence your mental state, but an ongoing self-care routine is essential. While some business leaders wear working long hours as a badge, burnout is not a badge of honor. If the pandemic is teaching us anything, it’s being conscious of your well being.
In our Mentoring Labs, we not only identify challenges that business owners are committed to achieving by the next Lab, we also make promises. Promises are usually personal and self-care focused. This holistic approach keeps the leader focused on their intentional well-being.
The key actions to address self-care can be simple like, scheduling a walk, routinely taking your vitamins, drinking more water, or scheduling a vacation. “I realized that I needed to schedule some time off every three months,” says McRill. If I worked any longer than this timeframe without a break, I would become cranky, so I made this part of my routine, even if it was a long weekend.” This time gave her decompression time and her staff an opportunity to step up in her absence.
Creating resilience is intentional. Whether you are creating resilience in your business model, your mental state, or your physical strength. What are you doing for yourself and your business to build a business and life with staying power?
If you’re inspired to build a resilient business and one in align with your unique human wiring and Contribution in the World, join us for the Wake Up Profitable Boot Camp for Business Owners on October 21-22, 2021.
Sponsored by the Great Lakes Women’s Business Council and the Business Innovation Lab