Following the news can be a most depressing thing in the past month. The persistence of COVID-19 related illness and death, the ongoing global financial crisis, and the struggles of our medical professionals and other frontline personnel can seem overwhelming. The hospitality industry has only continued to struggle and while the government is attempting to replenish Paycheck Protection Program (PPP) funds, the program is stalled at the moment leaving too many small businesses, hotels and related businesses among them, struggling to survive. We’ve gone from the best of times to figuring out how to pay our bills in the blink of an eye. As we finish each day, many of us are wondering how we will continue on. Amidst all this, we know that keeping a positive attitude is what will get us through and help us come out of this economic storm even stronger.
So how do we stay positive? One of the most important ways is to stay calm. Frenetic energy only causes chaos in the best of times and in the midst of this pandemic, it will lead to even quicker disaster. Breathing techniques, meditation, running, working out at home, these are only some of the many techniques out there to serve as an outlet for your frustrations. But calmness will help you keep a level head about the decisions that are in the near future. Find what works for you and work it into your daily routine.
Another way to stay positive is to take stock in the success that we built and know that we can do it again. Is each economic event different than the last? Absolutely. And let’s be clear, none of us have experienced such a drastic and dramatic downturn as the COVID-19 situation. But as scientists work furiously to develop a vaccine, we know that this situation will eventually pass. Taking a long-term view of the road ahead is sometimes all we can do. And when we are at the bottom, the only way to go is up.
With a clear head, you will be able to tackle the challenges that lay in front of you. No one can pretend that this is easy, as we often say “People Make the Property” and the impact on our team members has been felt most dramatically. Not just by their change of employment status but also our loss at having built such high-quality teams. And of course, there is the financial reality of this crisis. Hopefully, you have been able to obtain PPP funding to help in the short-term, but we know that diligent expense management will be crucial to help us get by.
Staying positive can certainly be a challenge but it will help you emerge stronger on the other side. When the Great Recession was in full force, many of us were unclear how we would get through it and ten years later we were riding high. As the old phrase says, “this too shall pass.” While we all want it to pass sooner rather than later, the important thing is that staying positive will get us through with fewer gray hairs! Focus first on staying safe and healthy, afterwards we’ll be able to focus on a renewed approach to our business success.