As I write this, the coronavirus outbreak has taken the world’s economy hostage.
It’s taking a toll on everyone, and it’s no surprise that we’re all feeling anxious about the future. No one knows for sure when the situation will stabilize.
Because the outbreak is at such a massive scale, we don’t even need data to justify the sinking feeling we feel when we’re worried about our livelihoods. Nothing unites us all quite like adversity.
As a peak performer, you want to train yourself to be an all-weather, all-season performer. You want to remain effective even as a crisis is sweeping your area.
If your circumstances are currently uncertain, then the next best thing is to be certain about your own ability to respond to your circumstances.
Remember, no matter how many resources you have at the moment, you still have your resourcefulness. You have the power to shape your circumstances within your circle of influence.
Today, we’ll discuss some ways you can safeguard your career in a crisis.
Take note that I chose the word ‘career’ over ‘job’ by intention. A job is your occupation at any point in time. Your career is the long-term ‘journey’ of employment throughout your life.
To make effective career decisions, you must think in terms of ‘career capital’ – which is your ability to provide value over the long-term. This will include your skills, resourcefulness, connections, credentials, specialized knowledge and work experience.
The problem with the mindset of ‘having a job just to pay the bills’ is that you’ve prioritized money over accumulating career capital. Sure, it makes sense if you’re in survival mode. But it’s not a wise long-term strategy.
The same goes for the mindset of ‘taking up a job just for the experience’. In this case, you’ve prioritized experience over actual, profitable career capital. In today’s world where job-hopping is a norm, experience has taken a back seat to real skills.
Employers know that experience doesn’t necessarily correlate to competence.
In an economic crisis, it is expected that people will be laid off as companies do their best to stay afloat.
The ones who stay employed are those who are worth too much for the company to lose.
They have career capital: the skills, resourcefulness, connections, credentials, specialized knowledge and work experience – to perform their jobs at a high level of competence.
So in a crisis, you must think like a successful investor.
Warren Buffett has said: “Be fearful when others are greedy and greedy when others are fearful.”
As arguably the most successful investor in history, Buffett reveals the same philosophy you must take in a crisis, which is to proactively seek opportunities when others are being reactive.
Understand that there’s always a flip side to everything. While many companies suffer in the recession, there will be a handful of companies who are thriving.
(Think hand sanitizer companies, Netflix or Zoom online conferencing. The outbreak has made them a fortune!)
Similarly, while many people are struggling, you can thrive, if you are conscious about strengthening your career capital.
There are two general scenarios that people are facing now:
Scenario A: You’re overwhelmed with work
If you’re currently overloaded with work because you have to cover others, then the good news is that your company needs you more than ever.
The danger is that you get so swamped with tasks that you’re burning yourself out.
As you handle your business, focus on improving efficiency. Find ways to do more things in less time. Multi-tasking may seem like a good idea, but it will hurt your productivity in the long run.
Prioritize ruthlessly by asking yourself questions like:
– What’s the most important thing that if I do right now, it will make everything else easier?
– How can I break down my project into simpler, manageable bite-sized tasks?
– How would I rank my tasks from most important to least important?
– In what order should I do these tasks so that it would yield the best results?
– How can I block-off some ‘Me-Time’ so I can recover effectively?
– How can I fill up empty time (i.e. waiting, during commute) effectively so I can lighten my load?
Scenario B: You have too much time on your hands
The other scenario is the opposite. Because of cancelled events, closed stores, postponed meetings or empty work trays, you find yourself not having much to do.
Many people in this scenario will feel concerned, but their actions will not reflect their concern.
They stay in their comfort zone and enjoy the lull, further falling into a false sense of security.
This is not where you want to be in.
This is the time to capitalize on the time you have and focus on building your career capital.
Start by envisioning: who do you want to be when the crisis is over?
Stay a few steps ahead by thinking post-crisis.
When the storm has subsided, and it eventually will, will you be better off or worse? What you do now will make the difference.
Here are some strategies you can execute immediately:
Strategy #1: Give yourself a 14-day skill challenge
This is the best for people who are stuck at home due to home quarantine.
Commit yourself to a 14-Day Skill Challenge. For two weeks, commit to learning a new skill by reading as many books, watching as many videos and listening to as many podcasts about a specific subject or skill.
Study as much material as you can on the subject. Write and journal about your findings, make it into a fun pet project.
Aim to become a self-made expert on a subject by the end of 14 days. Use this time to attend online courses that will make you much more valuable when the crisis is over.
Most importantly, have fun!
Alternatively, you can choose to do a home fitness or a diet challenge. Your health is paramount during these difficult times!
Strategy #2: Brainstorm creative ways to add value to your others
If you’re employed, now’s not the time to slack off and antagonize your company!
Remember that if your company is losing, you are losing. The inverse is also true. If your company is winning, you are winning.
If work is sparse, sit down with your team and figure out creative ways the company can stay productive. If your sales are low, then focus on building your brand. If your marketing campaigns are tanking, then focus on skill development.
There will always be systems that need work or can be enhanced.
A crisis is the perfect time for a team to come together and reflect and re-evaluate what truly matters.
When times are good, we tend to follow our routines on autopilot. But now that our routines are disrupted, we have an opportunity to take a step back and see how we can create better, more effective routines.
Also, don’t just look internally.
In a crisis, generosity can be powerful.
How can you use your talents, skills and resources to help people who may be struggling right now?
How can you use your talents, skills and resources to lift the burden that others may be carrying right now?
While other people become selfish during difficult times, you can be the first to extend a helping hand.
Strategy #3: Plan for the worst-case scenario
As humans, we have a built-in mechanism to sense impending danger.
If you have a gut feeling that your employment is hanging by the thread, then it’s wise to take precautions and be ready.
Pull up your CV and update it with your latest accomplishments, skills and experience.
Make a list of contacts you have right now that can give you referrals, recommendations or help you land some employment.
Ensure that you have saved up at least six months of your salary to help last you through any dry periods.
Also, if you’ve always wanted to be self-employed or start your own business, make a clear plan right now on how you can go about doing so.
Sometimes, it takes a crisis to push someone off the edge and make the decision to finally pursue their passion.
—
Regardless of what you’re struggling right now, remember that many others are in the same boat as well.
You’re not alone in this.
Choose to be calm, proactive and generous during this crisis. Start taking small actions even if you may not know where they lead.
The best thing you can do for yourself is to keep moving forward.
Summary
In a crisis when other people are worried about their jobs, find ways to build your career capital: the skills, resourcefulness, connections, credentials, specialized knowledge and work experience.
Scenario A: You’re overwhelmed with work
Ask yourself:
– What’s the most important thing that if I do right now, it will make everything else easier?
– How can I break down my project into simpler, manageable bite-sized tasks?
– How would I rank my tasks from most important to least important?
– In what order should I do these tasks so that it would yield the best results?
– How can I block-off some ‘Me-Time’ so I can recover effectively?
– How can I fill up empty time (i.e. waiting, during commute) effectively so I can lighten my load?
Scenario B: You have too much time on your hands
Strategy #1: Give yourself a 14-day skill challenge
Strategy #2: Brainstorm creative ways to add value to your others
Strategy #3: Plan for the worst-case scenario
As I write this, the coronavirus outbreak has taken the world’s economy hostage.
It’s taking a toll on everyone, and it’s no surprise that we’re all feeling anxious about the future. No one knows for sure when the situation will stabilize.
Because the outbreak is at such a massive scale, we don’t even need data to justify the sinking feeling we feel when we’re worried about our livelihoods. Nothing unites us all quite like adversity.
As a peak performer, you want to train yourself to be an all-weather, all-season performer. You want to remain effective even as a crisis is sweeping your area.
If your circumstances are currently uncertain, then the next best thing is to be certain about your own ability to respond to your circumstances.
Remember, no matter how many resources you have at the moment, you still have your resourcefulness. You have the power to shape your circumstances within your circle of influence.
Today, we’ll discuss some ways you can safeguard your career in a crisis.
Take note that I chose the word ‘career’ over ‘job’ by intention. A job is your occupation at any point in time. Your career is the long-term ‘journey’ of employment throughout your life.
To make effective career decisions, you must think in terms of ‘career capital’ – which is your ability to provide value over the long-term. This will include your skills, resourcefulness, connections, credentials, specialized knowledge and work experience.
The problem with the mindset of ‘having a job just to pay the bills’ is that you’ve prioritized money over accumulating career capital. Sure, it makes sense if you’re in survival mode. But it’s not a wise long-term strategy.
The same goes for the mindset of ‘taking up a job just for the experience’. In this case, you’ve prioritized experience over actual, profitable career capital. In today’s world where job-hopping is a norm, experience has taken a back seat to real skills.
Employers know that experience doesn’t necessarily correlate to competence.
In an economic crisis, it is expected that people will be laid off as companies do their best to stay afloat.
The ones who stay employed are those who are worth too much for the company to lose.
They have career capital: the skills, resourcefulness, connections, credentials, specialized knowledge and work experience – to perform their jobs at a high level of competence.
So in a crisis, you must think like a successful investor.
Warren Buffett has said: “Be fearful when others are greedy and greedy when others are fearful.”
As arguably the most successful investor in history, Buffett reveals the same philosophy you must take in a crisis, which is to proactively seek opportunities when others are being reactive.
Understand that there’s always a flip side to everything. While many companies suffer in the recession, there will be a handful of companies who are thriving.
(Think hand sanitizer companies, Netflix or Zoom online conferencing. The outbreak has made them a fortune!)
Similarly, while many people are struggling, you can thrive, if you are conscious about strengthening your career capital.
There are two general scenarios that people are facing now:
Scenario A: You’re overwhelmed with work
If you’re currently overloaded with work because you have to cover others, then the good news is that your company needs you more than ever.
The danger is that you get so swamped with tasks that you’re burning yourself out.
As you handle your business, focus on improving efficiency. Find ways to do more things in less time. Multi-tasking may seem like a good idea, but it will hurt your productivity in the long run.
Prioritize ruthlessly by asking yourself questions like:
– What’s the most important thing that if I do right now, it will make everything else easier?
– How can I break down my project into simpler, manageable bite-sized tasks?
– How would I rank my tasks from most important to least important?
– In what order should I do these tasks so that it would yield the best results?
– How can I block-off some ‘Me-Time’ so I can recover effectively?
– How can I fill up empty time (i.e. waiting, during commute) effectively so I can lighten my load?
Scenario B: You have too much time on your hands
The other scenario is the opposite. Because of cancelled events, closed stores, postponed meetings or empty work trays, you find yourself not having much to do.
Many people in this scenario will feel concerned, but their actions will not reflect their concern.
They stay in their comfort zone and enjoy the lull, further falling into a false sense of security.
This is not where you want to be in.
This is the time to capitalize on the time you have and focus on building your career capital.
Start by envisioning: who do you want to be when the crisis is over?
Stay a few steps ahead by thinking post-crisis.
When the storm has subsided, and it eventually will, will you be better off or worse? What you do now will make the difference.
Here are some strategies you can execute immediately:
Strategy #1: Give yourself a 14-day skill challenge
This is the best for people who are stuck at home due to home quarantine.
Commit yourself to a 14-Day Skill Challenge. For two weeks, commit to learning a new skill by reading as many books, watching as many videos and listening to as many podcasts about a specific subject or skill.
Study as much material as you can on the subject. Write and journal about your findings, make it into a fun pet project.
Aim to become a self-made expert on a subject by the end of 14 days. Use this time to attend online courses that will make you much more valuable when the crisis is over.
Most importantly, have fun!
Alternatively, you can choose to do a home fitness or a diet challenge. Your health is paramount during these difficult times!
Strategy #2: Brainstorm creative ways to add value to your others
If you’re employed, now’s not the time to slack off and antagonize your company!
Remember that if your company is losing, you are losing. The inverse is also true. If your company is winning, you are winning.
If work is sparse, sit down with your team and figure out creative ways the company can stay productive. If your sales are low, then focus on building your brand. If your marketing campaigns are tanking, then focus on skill development.
There will always be systems that need work or can be enhanced.
A crisis is the perfect time for a team to come together and reflect and re-evaluate what truly matters.
When times are good, we tend to follow our routines on autopilot. But now that our routines are disrupted, we have an opportunity to take a step back and see how we can create better, more effective routines.
Also, don’t just look internally.
In a crisis, generosity can be powerful.
How can you use your talents, skills and resources to help people who may be struggling right now?
How can you use your talents, skills and resources to lift the burden that others may be carrying right now?
While other people become selfish during difficult times, you can be the first to extend a helping hand.
Strategy #3: Plan for the worst-case scenario
As humans, we have a built-in mechanism to sense impending danger.
If you have a gut feeling that your employment is hanging by the thread, then it’s wise to take precautions and be ready.
Pull up your CV and update it with your latest accomplishments, skills and experience.
Make a list of contacts you have right now that can give you referrals, recommendations or help you land some employment.
Ensure that you have saved up at least six months of your salary to help last you through any dry periods.
Also, if you’ve always wanted to be self-employed or start your own business, make a clear plan right now on how you can go about doing so.
Sometimes, it takes a crisis to push someone off the edge and make the decision to finally pursue their passion.
—
Regardless of what you’re struggling right now, remember that many others are in the same boat as well.
You’re not alone in this.
Choose to be calm, proactive and generous during this crisis. Start taking small actions even if you may not know where they lead.
The best thing you can do for yourself is to keep moving forward.
Summary
In a crisis when other people are worried about their jobs, find ways to build your career capital: the skills, resourcefulness, connections, credentials, specialized knowledge and work experience.
Scenario A: You’re overwhelmed with work
Ask yourself:
– What’s the most important thing that if I do right now, it will make everything else easier?
– How can I break down my project into simpler, manageable bite-sized tasks?
– How would I rank my tasks from most important to least important?
– In what order should I do these tasks so that it would yield the best results?
– How can I block-off some ‘Me-Time’ so I can recover effectively?
– How can I fill up empty time (i.e. waiting, during commute) effectively so I can lighten my load?
Scenario B: You have too much time on your hands
Strategy #1: Give yourself a 14-day skill challenge
Strategy #2: Brainstorm creative ways to add value to your others
Strategy #3: Plan for the worst-case scenario