Understand Priorities And Be Emotionally Strong During the Pandemic: Shiv Khera

The author and speaker believes the threat of crisis faced by everyone should neither be overrated nor the strength of people to fight and win must be underrated

Free Preview: Start Your Own Business

Submit your email below to get an exclusive glimpse of Chapter 3: “Good Idea! How Do I Know If I Have a Great Idea for a Business?
Feature Writer
3 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The COVID-19 crisis has impacted the entire globe. But, the threat of crisis faced by everyone should neither be overrated nor the strength of people to fight and win must be underrated.

Outlining the aspects that have been impacted the most, Shiv Khera—author, educator, business consultant and speaker—mentioned life, livelihood and lifestyle are majorly affected. In a webinar organized by Entrepreneur India, he elaborated that these three segments are beyond imagination whether it is related to quarantine, losing job or even high-profile individuals getting affected due to the pandemic.

Besides, the super-rich, middle class and poor people are the worst sufferers of the crisis. Khera added, “Poor people are the daily wage earners who work day and night consistently.” In the case of super rich, livelihood problem does not arise. At the same time, the middle class people reflect over the uncertainty of money being finished before the crisis and vice versa. This has led to distinction of active and passive income being formed. Highlighting the instance of pension tax consultant practice in the US, Shiv quipped, “Emergencies and accidents never warn you in advance!”

Evaluation of impact of the crisis

He further stated about the efficiency being adopted in work culture through technological advancements and digitization. Indicating at the unrealistic mechanism for manufacturing sector in the work-from-home and the cases where it gets misinterpreted as a paid vacation, Khera continued with his views. Apart from this, he asserted that the amount of time-saving devices were not available in the history before to support lifestyle.

Contrarily, time cannot be side-lined amidst these advancements. This is primarily a cause of messing up priorities and urgent and important needs are not evaluated rightly.

When important tasks are ignored, they turn out to be urgent as quoted by Khera. The lockdown has forced people to step backwards and now they are analysing whether it was the right direction. Khera emphasized, “Direction is much important in life than speed.” Moreover, the discretionary and non-discretionary spending are being distinguished in the current scenario.

Statistics of historical crisis

Comparing the COVID 19 crisis with Spanish Flu and The Great Depression of 1929, he recalled that dollar lost its value by 85 per cent and 15 million people lost their jobs in the US. This number is equivalent to 50 billon today, considering the population of the US at present. Khera believes, “Whenever unemployment has gone up, self-employment has always gone up!” Interestingly, there were few solution-focused business owners who started their enterprise amidst The Great Depression of 1921 who are household words, nowadays.

Psychological perspective and emotional stability

In the identical situations, people can break records while others can break themselves. The former is a result of being solution focused and the other one has people with problem focused mindset.

The crisis has influenced the lifestyle physically, medically and economically. The notion of globalization has turned to localization as people have realized the consumption should come closer to production. On a psychological front, people are suffering from anxiety, stress, depression, frustration and anger. Shiv affirmed, “Emotional stability is crucial as it helps in strengthening people to come out of the crisis.”

Words of wisdom amidst COVID-19

If the crisis cannot be changed, then, accepting it graciously and not grudgingly should be everyone’s outlook. Nevertheless, if the situation can be changed, then, discretion and wisdom should be asked from God to deal with it courageously. According to Khera, “Series of positive points in life is called success.”

Latest on Entrepreneur