What 2020 Has Taught Us About Resilience In Businesses?

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For the majority of businesses, 2020 has been a tough year. With the advent of COVID 19, businesses of every industry were forced to close its door for their consumers, especially small businesses.

Everything was fine when we started 2020; the economy was on track, flights were packed, restaurants were bustling with customers, and businesses were flourishing. However, the pandemic trapped these businesses as if fishermen have trapped a full flock of Salmon. Almost overnight, everything changed upside down.

Bitcoin was performing quite well. People were using the https://immediate-edge.co/ to trade in Bitcoin and other Cryptocurrencies. However, the price of Bitcoin dropped to $3000 during the early days of the pandemic. This was when experts started believing that 2020 might be the year when the Crypto bubble will finally burst.

We have entered 2021. When we look back at 2020, we see some learning lessons that 2020 has taught us about business resiliency. Although 2020 was covered in dark clouds, we were able to see the silver lining around the dark clouds.

Here are lessons that 2020 has taught us on business resiliency.

We Have More Resources Than We Think

Amid the crisis, it is important that you use all the resources to their full potential to get the best out of your business. It is very important that you have the skill to navigate adversities and grow through challenges. Here the essence of navigation is to use unconventional resources to get the job done.

Resilience is all about regaining to the current state. However, the term bounce back has been replaced with navigation. The words navigation remind us that for resiliency, we use tools. This tool can be anything, whether you are taking help from external resources or tapping into your opticians.

It’s Hard To Cope-Up Once Depleted

Last year was a compelling time for everyone. There was an abundance of stress and uncertainties that made it hard for the people to face the stress. This abundance of stress takes a toll on your body and starts depleting your enthusiasm. Once you are depleted, it is hard for you to cope up. Researchers show that the anxiety and depression level was at its maximum in 2020.

2020 has taught us that being resilient with what you do will help you get back up. We have seen people who are brimming with light and hope even on the darkest day of the pandemic. If you are resilient mentally, physically, and spiritually, you will find ways to survive even in the direst situation.

The Importance Of Intentionality

When you are faced with a crisis, your intent matters a lot. The situation we are in now has offered us an opportunity to build resilience as a person and as a society. Before the advent of the pandemic, the world was in a get-go mode, without appreciating its things. However, after the pandemic, people have become more aware of their surroundings, more presentable and intentional.

Initially, we used to spend lots of time with friends and the internet. However, 2020 has taught us how friendly family members can be. Social distancing has shown the importance of appreciating other’s presence in your life.

Resilience Can Be Trained Like Muscles

Resilience is not something that some people lack; it is something that everyone has. You just need the right time to bring out that resilience inside you. 2020 has taught us the ability to cope with adversities.

Resilience is nothing more than a set of skills that can be cultivated during the time of crisis. We cannot take our strengths for granted. To keep the business moving forward, we need to tackle help from tools to cope with the uncertainties.

Take Away

Although businesses have started recovering from the damage pandemic has caused, we are still far from standing upright. Our recovery pace might be slow due to a slow economy, but it is true that business resilience is possible. If we approach the business with the current situation in our mind and take decisions considering all the possible factors, we will be able to stand up again.