25/10/2024
*Surviving Tough Times Through Resilience*
It is not news anymore that we now operate in a troubled economy and not just Nigeria but most economies of the world.
This situation greatly affect families, businesses and survival in general. To succeed in this economy, we must apply the principle of RESILIENCE.
What is resilience? the capacity to withstand or to recover quickly from difficulties; toughness. It is said that tough times don't last but tough people do. I totally believe this analogy, however, surviving through tough times is another thing altogether.
Surviving tough times requires resilience, a quality that can be cultivated through strategic practices.
As the renowned author Maya Angelou once said, “You may encounter many defeats, but you must not be defeated.”
This mindset is crucial during economic downturns, such as financial crisis or the recent challenges posed by the COVID-19 pandemic and bringing it closer, the current economic hardship occasioned by hike in the price of fuel, gas triggering hyper inflation in essential commodities in Nigeria.
These events have tested the resilience of businesses, families, and governments alike.
For businesses, survival strategies include diversifying revenue streams, embracing digital transformation, and maintaining strong customer relationships. For instance, during the pandemic, companies like Zoom thrived by adapting quickly to the remote work trend, showcasing the importance of agility.
Similarly, most companies in Nigeria have adopted some strategic means of reaching out to their customers for delivery due to cost of fuel, ensuring continued customer engagement. I have seen dispatch riders using bicycles to do their deliveries on the streets of Lagos, engaging youths , what an innovation.
Families can build resilience by fostering open communication, establishing routines, and supporting one another emotionally.
Uche Ojula arpa