Throughout history there have been distinct clear points when life changed. Empires have fallen, World Wars fought, and now, a near total shut down due to a global pandemic. Whether COVID has touched you directly or not, our lives have changed. And while the world will open up again, we can create a new normal. While the circumstances and the unknown are scary and there are many people who are paralyzed by that fear, I am talking with people who are viewing this with a glass is half full mentality; as time not to be wasted.
For business owners, this is an exceptionally difficult time. Yet, some good can emerge. Like the case of a business owner friend who wants sell her business in the next few years and retire. Over the years she had identified a number of needed changes be made but was stuck in status quo mode. Now, out of necessity, the fire has been lit. That business owner is motivated to adapt, adjust and reposition that business so it will thrive. In the end, if she successfully makes the changes, she will be able to sell a far more valuable business in the coming years.
A woman with a young son at home has wanted to make a career change for a long time. She is now out of work. Not only is she out of work, but her husband (who works in the same industry) is now unemployed as well. They have decided they can never take this risk again – both of them working in the same industry, subject to the very same risks to their employment, and the unusual schedules that make family life a challenge. As a couple, they are using this time to research and plan her future career path.
Financially, for many people this is a time to evaluate spending. That may be out of necessity due to a job loss or income decline. For others, this may be an awakening of what really matters. I have spoken to people about changing old spending habits. They are using this time to identify and think about their spending, and what they want to change to be able to save more in the future.
This is a health crisis. Maybe like me, it makes you think long and hard about your personal health and wellbeing. Now that I am working from home, I no longer have the commute time (and if I am honest, the time to get ready as I haven’t put on makeup on in a month!). In fact, I have about two and a half hours of found time every day. With that time, I am now walking over 10km per day. Not only is this an opportunity to exercise, but to eat better and, most importantly, spend more time with my family. Imagine that, the joys of home cooked family dinners. No running to kids’ activities, no rush to do errands. Time together, talking over a healthy meal.
If your own or loved ones’ health hasn’t been impacted by this virus, I encourage you to make the most of this time. For all of us there are things we needed to change but just hadn’t gotten around to. If you can view this as a time where your glass is half full, think about what really matters in your life and make the necessary adjustments, financial or otherwise. You might just come out of this better.