The world is currently going through an unprecedented health crisis in the form of the viral infection known as “SARS”-CoV-2 or Covid-19 that has caused a global pandemic. The rapid spread of Coronavirus has brought the global economy to a near-complete standstill. This has left most governments around the world with no choice but to implement economic stimulus measures.
The Coronavirus outbreak is foremost a human disaster, but it’s also having a huge impact on global economies. Stock markets all over the world have lost close to 30% of their value, which directly affects investments like pension funds and individual investment accounts.
Stock markets are reflecting negative sentiment in the presence of the current uncertainty. This uncertainty has posed a risk to the future profits of companies, some of which may cease to be viable by the time this whole thing blows over. The current economic crash is probably the fastest in world history.
Customers are now buying less due to lockdowns and factories are closing down, which puts global economies at risk of entering a recession.
Governments around the world are working hard in trying to avoid dire macroeconomic and financial outcomes. These outcomes would encompass job losses, further stock market collapses and business bankruptcies.
Our Zimbabwean economy has caught the virus at a time in which it has been plagued by power shortages, growing deficit and debt levels. The full impact of the virus will only be visible once it has finished playing out.
It is in such a disaster that I want to reach out and assure you that this too shall come to pass. Humanity has gone through a lot since the genesis of time and we have not only overcome but have came back stronger and more resilient.
From the Spanish flue to the world wars and the property market crashes, the difference has always been about how we pick up the remaining pieces of our economy and build again from there.
Believe me, what matters now is not when you can come back to fully interact with your market. That is given, soon we shall be open for business as usual. What matters now is how you position your business for the imminent return and how you will avoid being exposed in the eventuality of another global crisis.
Needless to say, the marketing plan and strategy that you had adopted for 2020 is now toast and so are your financial targets and accompanying business strategies. Maybe this will even alter your business model.
This is the time to rethink and reinvent your return. This is your time to finally put together a fail proof strategy that will elevate your business when normalcy returns.
This is the time to give back to your market. I am doing this by helping small business owners with a winning business growth strategy going forward. This is the time to deliver on uncharted territory.
We will fall so many times along the way, just never take it for granted that from here we can rise again.
Be of good courage, this too shall pass.