Get ready for the world after CovidFix your profile

COVID-19: How to prepare for crisis before it strikes.

Fa calendar 16 grey June 11, 2020   
Fa thumbs o up 16 grey 4   
  Share

The most important thing about a crisis is the lessons we learn so that we can prepare for the uncertain future that we are walking into.

Normal 6a2b1fb2 6243 4516 b799 0593e495a74e

Photo CreditPixabay

If there is anything we have had to confront this period is the fact that the future may be planned for but it is completely unpredictable. No one saw Covid-19 coming yet it has affected every market. We may not undo the past because it is water under the bridge now, but we can learn. The most important thing about a crisis is the lessons we learn so that we can prepare for the uncertain future that we are walking into. This is the best time complete your profile  to enable Fuzu help you in find the best free online courses that will equip you with leadership and soft skill as we prepare for life after Covid.

Here are a few tips on how to be better prepared next time: 

1.    Emergency kitty
Every single nation in the world was caught by surprise and most importantly companies. Employees were the first casualties because of massive job cuts and reduction in income due to fall in revenues for most businesses. An emergency kitty for rainy days like these will go a long way in navigating through crisis. When a company is experiencing good days with growing revenues and impressive margins, they should plan for crisis both financially and logistically.

2.    Insurance
There is no over-emphasizing on the importance of insuring your company to mitigate crisis. Policies such as business interruption insurance, workers’ compensation and General liability insurance and many more will go a long way in cushioning the company against crisis-related losses.

3.    Find alternative ways to monetize
Alternative monetization provides a wider pool of generating revenue as much as the primary business model is still in place. While the primary source of revenue might take a huge hit from crisis, the other streams of income act as spare wheels to a car whose tyre just burst. An example is a consulting and outsourcing company acting leveraging on the data they gain to rake in some extra money. 

4.    Invest in the team
A good team which is professional and apt will always save the day. The employees can come up with meaningful ideas that can help a company thrive during crisis and tricky financial times. So companies should endeavor to invest in their workers by giving them opportunities to thrive, learn and acquire skills and a decent compensation.
 

Share this article with your friends and family

  Share on Facebook  Share on WhatsApp
    4
    9
Comments

    cyrus | June 18, 2020 19:20

    soo inspiring

    Mercylorine | June 17, 2020 14:31

    That's quite touching 💯

    ainea | June 17, 2020 03:14

    amazing

    Brian | June 16, 2020 22:18

    Good off

    Gaston | June 16, 2020 19:41

    Just ok😁

    Millycent | June 15, 2020 19:39

    Really amazing

    Millycent | June 15, 2020 19:27

    Amazing

    Uganze | June 13, 2020 17:41

    Amazing piece


Register or log in to like and comment the article.