COVID 19 Survive Then Thrive

You're now in a game where only time can tell
Survive the droughts, I wish you well, hold up
Survive the droughts? I wish you well?
How sick am I? I wish you health
I wish you wheels, I wish you wealth
I wish you insight so you could see for yourself

Jay-Z, American Dreamin’

Welcome to my first blog. Admittedly, this is something that I have been planning to do for years - but life. Like the rest of the world, I have found myself operating topsy - turvy through the last six weeks. This crisis called COVID 19 has upended the plans, portfolios and processes of over 7 billion humans and 190 million companies across the world. None of us can say that we have been here before or that we know when this ends. Instead, we can only compare and contrast our unique experiences and challenges and, in some sense, try to apply our lessons learned to this unprecedented pandemic. For me, the most applicable experience is as a 2nd year Associate at a Global Investment Bank in 2007.

That same year, Jay-Z released the album “American Gangster” which was a concept album inspired by a movie of the same name. At the time of the release, I was accustomed to working 18 hour days Monday through Sunday. With this schedule, listening to this album on my daily subway ride was really the only amount of “gangster” I could get. It was also the allowable time to step away and gauge what was happening to the world, my employer and what that all meant for me. Essentially, Wall Street was falling apart. My friends across were losing jobs daily. I still have shell shock behind one very close friend definitively yelling, “IT’S OVER”.

Fortunately, I did not really believe that. I was fully aware that everything had changed but I was also aware that I had been given an amazing opportunity. I had no choice but to work through the circumstances. As motivation, I took note of Jay-Z’s American Gangster lyrics, repeated them to myself throughout the day and navigated the new paradigm. Thirteen years later, I thought I would share what I internalized and two essential learnings that I developed without really knowing: (1) surviving the drought and (2) maintaining keen insight.

SURVIVING THE DROUGHT

By definition, a drought is a prolonged and uncertain period of resource shortage, most notably the resource of waterfall. In other words, during a drought the very essence of “making it rain” is non-existent. As it relates to COVID 19, economists projections are all over the board.  Some industries may never come back, while others may only be slightly impacted. Nevertheless, I think it is safe to say that we have began a period of drought with no one able to truly predict the time of turnaround.

While this is certainly a global period of drought, it is important for many of us to remember that as individuals this is not likely our first drought. Whether through bad investments, unfortunate business circumstance or loss of family and friends, here are some tips to survive no matter how protracted this period may be.

(1) Be Resourceful - Do the Same With Less.

Make a list of the top initiatives planned before COVID 19. For some, it may have been to host or attend a business conference, receive a job promotion, visit Disney world or to renovate the kitchen. Whatever that may be, make and study the list to find the true purpose for each item listed. For example, ask yourself what was the real value and intent behind conference attendance to visit Arizona or gain more familiarity with prospects and associates. No matter the initiative, think of a more simplistic way of achieving the true purpose. If the goal was a promotion, begin taking on the responsibility of that elevated role . If the plan was to renovate the kitchen, create another in home wellness project such as designing a garden. There will be a time to when the rain returns but for now, keep it simple, hunker down and just live through the drought.

(2) Stay Healthy - Invest in Yourself

In times of drought, health may be the only area of life that one can control. First, remember that there are three aspects to health: (1) physical (2) mental and (3) spiritual. One would think that COVID 19 has caused us all to singularly focus on health. However, we know the onslaught of economic factors, childcare dynamics and massive change has made it more difficult than ever to focus on our health, particularly the long term effects.

In these situations, I have found it important to secure an accountability partner(s). When securing your accountability partner be very clear in telling them the following: (1) that they have a new job as your accountability partner (2) what your health goals are (3) where you are vulnerable and (4) that they are needed. Once that is clear, check in regularly as that accountability partner will likely find areas of support you may have noticed you needed. Finally, take lessons learned and volunteer to be an accountability partner for someone else.

MAINTAIN INSIGHT

(1) Understand People - Learn Who Your Friends Are

Crisis creates chaos for most, but for some, crisis delivers clarity. One of the greatest gifts that chaos can offer is an ability to clearly see the character of those around you. In normalized times, consistent processes and professional courtesies often obfuscate the true character of individuals. In chaos, comfort and consistency is lost. This is the time when hard conversations are presented and tough decisions must be made. In these circumstances, take the time to understand the motivations of others - is the decision making based on frugality or fear; excess or excitement, selfishness or selflessness. In any case, remember that the most important thing is to understand the motivation. Do not overreact, assess the situation and adjust accordingly so that you can easily stick to your own plan.

(2) Look For The Opportunity - Think Long Term

When it is all said and done, Jay - Z offers the listener one piece of promise. That is, should one be capable of pushing through intelligently and surviving then, “you could see from behind, you could redefine, the game as we know it one dream at a time”.

In my grandma’s words, remember that “this to shall pass”. While the challenges are near term and immediate, the opportunities to come out ahead over the long term are just as near and immediate. As a husband and father, the likelihood of spending six-plus weeks with my daughters with no business travel is very low. As a friend, I may never have this kind of time to easily coordinate calendars and genuinely listen to real life updates from friends. Business wise, the opportunity to revisit and develop strategy away from minute by minute execution has never been as present.

The individuals who are fully engaged in today’s challenges but capable of envisioning life post the crisis will not only survive but thrive. Today, the long term opportunity to enhance family dynamics, develop deeper relationships and capitalize from business shifts is ever-present. Embrace the long term.

I wish you well,

Ernie