There are 2 sides of the spectrum, companies who have jobs but the lockdown is causing delays and affecting their financial turnover; and companies that are badly affected - no leads, no sales and no income but still have to commit to paying operational costs and expenses.
To those who are still able to sustain, it is truly a blessing! But some did not make it, even companies with 10 - 15 years’ experience, so what about younger companies like startups? Here’s a four-step process for interior designer in KL to remain resilient in times like these.
Rest your plans. After the pandemic started in 2020, everyone expected a better 2021. Since the situation is still so unstable now, put your long term plans on hold and relook into your short-term goals that would help you adjust to the current situation.
Learn to be flexible or to manoeuvre the situation. If it’s too structured, it will waste your time and slow you down. So you may have to:
- Consider doing things on contract basis, freelancing, or working flexible hours
- Cut costs and get rid of things that you can no longer afford. Think and operate like a startup
- Negotiate with creditors, bankers, landlords, or whoever you owe. Work out a payment restructuring program with the banks. Many of them are offering this flexibility
- Fight to survive. Don’t avoid it, don’t be silent, and don’t be afraid
- Talk to and compromise with your employees. Try to create a win-win situation where everyone survives
- Rethink your business model. Like it or not, digital is the way of the future, so don’t get left behind
In the face of a new challenge, remember to stay calm. Don’t panic. If you panic, you’ll end up making more mistakes. Start identifying areas you need to improve and draw up a plan, both in the business or personally. It's the best time for you to invest in yourself and in your team. Learn a new skill, look for passive income if you can. Most importantly, start taking action. Focus on your new direction and drive it through! Most people can talk, but can you walk the talk?
Changes often bring new opportunities. You may venture into something new and discover exciting opportunities during tough times; or Find new ways to do business.
Restarting can also be preparation for good times in the future - you lay low now, and once things pick up again, you are all geared up to go. What goes down will always come up.
The way we do business will change. It’s time for us to explore new ways and new directions. In these challenging times, we need “Creative Thinking, now more so than ever”. Not just on design works but also for this new paradigm shift in business and life.
Never before have we seen the world put differences aside and unite so quickly to fight this pandemic together. If it can be done at a global scale, why can’t we apply this to the interior design industry in Malaysia?
Let’s come together to face these challenging times head-on. There is strength in numbers. Remember, tough times never last but tough people last forever.
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