It recently came out that China has been lying about the number of Corona Virus cases in their country. It’s believed that the number of cases is 40x more than what they reported. Although we all suspected China was skewing the numbers we did not realize to what degree. Now they are like that person we all dread to know. The guy who claims their work is complete but really they have been hiding everything. Nobody likes working with that person.
Here are 3 reasons why China’s lies will impact your business.
1. More people have the Corona Virus and this impacts your market
The virus spreads a lot faster than believed. We saw the impact of the rapid spread throughout Italy and Europe. But, China left us thinking something might be different. Now we realize they were covering up how terrible this situation is. This puts things into perspective as far as reality goes. There are more infections than we realized and this changes our dynamics. Customers affected by the virus have different needs now. The number of people that fall into this category continues to grow.
2. The timeline predictions are wrong and so is your business strategy
It’s clear this virus is not going away anytime soon. If you thought your business could coast for a month or two to ride this out, it’s time to reevaluate your strategy. All the predictions of how long the quarantine would last depend on the data and numbers coming in. China’s claim to get things under control so quickly gave us a reason to believe it was possible. Now in the fallout of their lies, it’s obvious that this is going to last longer than expected.
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3. You need new adjustments in order for your business to survive.
In the aftermath of this not so “shocking” news it is time to take action and re-strategize how to approach this. There is no time for extreme emotional reactions. You can not make excuses about receiving false data. We are all in the same boat with this issue. Those that take the right action steps will survive and those that toil will fail. This is why it’s so important to look ahead and map out every scenario. China’s Corona Virus data are off by 40x the amount they claimed. There are without a doubt new adjustments that need to happen across the world.
I have worked for some of the biggest corporations to look at crisis situations like this. It is part of my skill set to take bad news like this and readjust it to be helpful. I host a private group on Facebook where we have open discussions to help business owners. Topics like this come up frequently so if you want to find a resolution our group is a great place to start.
Once you joined the group you will have access to amazing group discussions on topics like this. This is a tailor-made group for business-driven people that want to succeed. By connecting together we can share and spread ideas that allow us all to grow from this crisis.