How Past Pandemics Can Help Your Businesses Thrive

A pandemic is a dreadful event that causes psychological, social, and financial devastation among individuals. However, as the adage goes, there’s a silver lining to every cloud. Educating yourself about past pandemics and their distressing effects on people’s lives and the economy can bear some good learning that can be useful in the present time.

Humanity has faced some pandemics in the past. To survive another one, you need to avoid making the same mistakes made in the past. You do not have to come out barely getting by. Instead, you can survive a crisis with minimum damage by adopting some of the preventative measures taken in the past and the right behavior and attitudes.

The Spanish flu was a global pandemic that occurred in 1918. It devastatingly impacted individual lives and economies. However, the outbreak bore many lessons despite its severe economic and psychological consequences on people and businesses.

Here are some lessons you can adopt from past pandemics:

Containment is Key

Naturally, health professionals put the management of the spread of an epidemic on top of their priorities. This is a common understanding among those in the health sector, so there are containment rules in place.

It is crucial for authorities to announce rules or instructions and for the public to obey them to prevent panic and further complications from arising. Staying at home, refraining from certain activities, using certain products, and self-isolating are some of the most important instructions that must be observed to curb the damage of a pandemic.

Most of the deaths that occurred during the 1989 Spanish flue were due to the virus spreading among individuals in confined spaces or large gatherings. This mainly happens because people refuse to abide by instructions, such as avoid large crowds and proper self-isolation.

The Importance of Preparation Among Businesses

The Spanish flu had risen the global unemployment rate and physical disabilities, among other things. Global panic largely contributed to the negative impacts of the virus. The panic heightened as businesses were temporarily closed, public gatherings banned, and sporting events canceled. However, we do not need to go through such condition again and deal with similar consequences. Being educated and prepared for the effects of a pandemic on the economy can help lessen its impact. Besides this, knowing the situation well can help you remain clearheaded during the crisis.

When businesses close during the period of self-isolation, which generally lasts for 14 days or more, will inevitably have a toll on the economy. Regardless of this, being prepared before the negative and psychological impact will help in our more rapid recovery.

Taking Advice from Business Experts Benefits Your Business

During a pandemic, businesses and freelancers are direly affected as they do not know how to keep their business processes flowing. The good news is that there are things you can do to continue your business operation or even take a new business venture. You might need to seek expert advice to help you retain your sanity and keep your business going and thriving during a crisis. Many expert billionaire entrepreneurs are offering their professional advice on social media.

For example, Mark Cuban, a billionaire entrepreneur, has given valuable business advice on LinkedIn. He provides some of the tips for keeping your professional life going. These include:

• Reaching out to potential clients as well as trying new business ideas
• If you cannot carry out some of the work you do at the office while at home, you can always try getting a new job by finding potential clients or opportunities.
• You can also start perfecting work or working on neglected work and unfinished work.

The billionaire entrepreneur also advises that you try out new ideas, like offering other services apart from the leading service you provide if you can.

Generate a Business Continuity Plan

Businesses are highly advised to put in place a risk management committee consisting of experts in different fields (e.g., IT, Security, Human Resource, Finance, and others), which will identify key personnel and allocate specific tasks during a pandemic. Thoroughly prepare for the crisis through planning and coordination. It must identify the various risk elements which the pandemic will pose against the business. This could include human resource risks, supply chain risks, IT risks, process risks, economic risks, and more.

After a plan has been set up, it must be tested and regularly rehearsed. To ensure that everyone within the business is aware of their duties and responsibilities when such an event happens, you should conduct training and educational workshops. For instance, the IT infrastructure, which is the heart of the business, should be strong enough to allow staff to work from home. While they work, they should also be able to maintain a secure environment to prevent data breaches or communication downtime.

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