John Warrillow on behalf of Matt Gilbert
June 9, 2020
Post-Traumatic Stress Disorder (PTSD) is a mental health condition triggered by experiencing a terrifying event. Although not at the level of enduring a war zone, the events of March and April 2020 may leave you feeling similar symptoms.
If you’re like most business owners, the first quarter of the year was progressing like any other.
A superbug started terrorizing the world. Professional basketball was cancelled. One by one, the world began to close its doors.
A significant blow impacted your business, unless you offer an essential service. Perhaps you’ve stabilized your company, or you might still be experiencing the worst of it. Either way, you’re probably a different person as a result of this pandemic.
Now, as things begin to slowly reopen, you may notice a change in your outlook. The Mayo Clinic reports four symptoms of PTSD:
Any of those sound familiar?
If so, you may be experiencing the psychological toll a catastrophic event can have on your psyche. There are three constructive things you can do now.
Option #1: Talk to Someone
Soldiers deal with PTSD by talking to a psychotherapist. Speaking to an advisor about how this pandemic has impacted your business can be therapeutic, and we’re here to help.
Option #2: Rebuild a More Durable Business
Another constructive reaction to this crisis is to commit to building a more durable business that can better withstand shocks to the system in the future.
Option #3: Sell
Many owners—especially those that experienced the brunt of the 2008–09 global financial crisis—have been so traumatized by this pandemic that they don’t have the stomach for another disaster. As a result, they’ve decided to start planning their exit proactively.
If you find yourself choosing option 2 or 3, your immediate action plan will be the same. There are some things you can do now that will make your business more durable in the long term as well as more sellable:
If you’re like a lot of the owners we work with, your business is part of who you are. When that gets threatened, it’s natural to feel traumatized. If you can redirect that energy into building a more durable business or working towards a successful sale, you may never have to experience something like this again.