The Bill Gates Ted Talk that could position your business to prosper in any economy, crisis, or times of uncertainty.

7min Read

In 2015 one of the world’s wealthiest humanitarian and philanthropists graced the stage of Ted Talk. In the personal development arena, Ted Talks are known as the playground for innovation known for “Ideas Worth Spreading”.

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The Microsoft co-founder on multiple occasions over the past decade talked about the potential for something like the novel coronavirus that has infected nearly 200,000 worldwide and killed almost 8,000 people

“If anything kills over 10 million people in the next few decades, it’s likely to be a highly infectious virus rather than a war,” Gates said during the Ted Talk. “Not missiles, but microbes.”Two years later, he said the same thing at an event in Davos. “It’s pretty surprising how little preparedness there is for it,” Gates said in 2017.

The Bill & Melinda Gates Foundation committed $100 million to fighting coronavirus, as part of its broader efforts in global health. The Gates Foundation is also reportedly exploring the idea of supplying at-home testing kits for the novel coronavirus in Seattle, the initial epicenter of the U.S. outbreak that has now spread across the country. In fact, I believe one of there projects are ready to begin clinical trials on a remedy.

So with all that being said what does this have to do with saving your life or business, what is the one-word tactic that one of the most brilliant, brightest minds of the 21 century suggested that we invest in to avoid the costly pain of a pandemic? 

Preparedness. In fact, the title of his ted talk reiterates the importance of this pivotal piece of advice.  We’re not ready.  A true leader is not one who can operate under normal circumstances but one who can survive and thrive in a crisis.

In business this would equate to Business resilience: this is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people, assets and overall brand equity. … Business resilience planning is sometimes referred to as business continuity planning.

Here’s an easy plan of action that you can implement make sure that your business can survive & thrive in any economy, crisis or uncertain conditions.

1.Identify the scope of the plan. What is the main ending goal/ result that you want to accomplish with the plan

2.Identify key business areas. What areas of the business are most profitable to the business for long term growth.

3.Identify critical functions.  Key functions of the business that is critical to the plan such as cash flow, infrastructure,  product focus or customer engagement.

4.Identify dependencies between various business areas and functions. What is your business ecosystem?I.E. If you have a retail location but can’t open due to natural disasters or pandemics? At that time you understand that a large portion of your sales will be affected.

5.Determine acceptable downtime for each critical function. Be honest with yourself, partners and employees.

6.Create a plan to maintain operations. An excellent quote that sums up the idea here is If plan “A” does not work remember you have 25 other letters.

 Write down the key processes that would be affected by the crisis and have several back-ups or contingency plans that can stand in the place of processes that will be affected. Have monthly or quarterly drills to remain in a readiness state of mind which will give you a peace of mind. 

Dedicated to your business growth,

Vivian

Check out this video for all the information you need on the monies that’s available to you as a small business owner online or offline there is help available not to mention the Facebook $100 million dollar grant program that will soon become available.