Businesses tactics in a COVID19 world. Part 3: Rebuilding

by | Apr 10, 2020

Below is the final part of a 3-part series on what mainstreet businesses can do right now to shift their business in the changing COVID-19 environment. Read Part 2 here. 


If you’re stuck, reach out. CO+HOOTS is hosting weekly financial/legal information sessions to support personalized guidance during this time. We are here for you. Learn more here: bit.ly/eventsatco

—

Many of us have felt a little useless as we’ve holed up in our homes. As our first responders and medical professionals help those infected, what can the rest of us do after we’re done binging Netflix and eating our fourth round of takeout? 

As I begin thinking about America, post-COVID, I am excited about all that needs to be done for our cities. Yes, things look and likely will be dire. That also means there is opportunity to start anew in what will be a different economic landscape. I think my fellow entrepreneurial friends who survived the last recession are starting to feel this itch too — the landscape is ripe for rebuilding and it is our job to do it. 

Nothing brings us together like a common enemy. And that enemy is not human, it’s COVID-19. There are a few things you can do to start contributing to the rebuilding of our economy, I encourage you to first think about strengthening yourself. 

Self-Care

As a person who is a quick starter but is constantly anxious, I take time to center myself by continuously reinvesting in myself. To be ready for what’s to come, you need to have the right mindset and have the correct knowledge and skills; or at least a basic understanding of what will be needed. Here are some ideas to tackle this type of Self-Care:

  • Don’t forget to take a break and step outside. 
  • Everyone is struggling with anxiety and fear right now, don’t forget to check in with others and there are free therapists to talk to. 
  • Try meditation: I love the Breathe People app (also can be found on spotify). 
  • If you thought technology is important for business, this new post-COVID-19 world has upped the technology ante. Promineo Tech and General Assembly are launching scholarships for coding bootcamps for individuals who want to begin upskilling to a new industry.
  • Our own LevelUp Incubator at CO+HOOTS is offering free access to the next Rapid Launch program to help newly unemployed individuals build their side hustle business. 

The Future

If we start working now, we can structure a future that makes sense for so many more people. If we, as rebuilders, had the opportunity to create a version of the world that worked better, what would it look like? 

Would retail/restaurants have more reasons to begin building businesses that live beyond physical walls, while also finding solutions to somehow create the experience people still crave from your establishments? 

Would educators develop new education models that serve all learning styles while giving our teachers more support resources to nurture tomorrow’s innovators?

Would our leaders of consultancies redefine what and how our work is done? Pass a national standard for maternity leave or minimum wage?

Would startups develop a business model that isn’t only defined by back-breaking growth or IPOs, but by impact, which in turn, will still positively affect your bottom line?

Would housing be built to support all income levels?

Can we elect officials without them selling their values to the highest bidder?

For entrepreneur support organizations like mine at CO+HOOTS, can we challenge the existing model of entrepreneurship by making it possible for more people to own and thrive in business?

It takes courage to take action when the whole world seems to be falling apart. But if there is ever a time to fake courage, it is now. 

I’d love to hear how you’re planning to rebuild your industry. Don’t hesitate to reach out, jenny@cohoots.com.

Jenny Poon is the founder/CEO of CO+HOOTS Coworking, a nationally recognized purpose-driven workspace for entrepreneurs and startups. The Business Journal named her the 2016 Businessperson of the Year. Follow her work on twitter at @poondingo.