COVID 19 and New Zealand’s ‘lock down’ turned businesses upside down overnight.
My business is recruitment and when there is economic uncertainty, businesses stop recruiting. In the 2008 GFC, the same thing happened, we weathered that crisis and bounced back stronger. Although there were a few sleepless nights.
COVID 19 is a worse crisis and although I am confident that my business will survive, it certainly provides ‘food for thought’. The first observation is that the way we measure success as business owners is vital to our community’s resilience.
We often judge our success in business by how much money we make.
However, if working in recruitment has taught me something, it is that every business is only as strong as its people. This statement may sound like a lazy platitude thrown around by a fast-talking, over-paid CEO but my reflection is that in times of crisis we define ourselves.
Over the years I have earned a good income, built a nice home and looked after my family well, not because I am special, but because I have been able to attract and retain good people. The people working for me have been instrumental to my success. During my time in business those people have shown me incredible loyalty and now I aim to return the favour. I want my legacy to be that I cared about my people. That is what success means for me.
And, my call to action is to think about the bigger picture. A business owner accepting a financial hit now and keeping their business going can keep a group of people employed. That group of people will spend more and help support the damaged economy.
So be brave and judge your success not by what you do for yourself but rather by your contribution to our community’s recovery.