5 reasons why the current panic is an AMAZING opportunity for you

People in the United States, and many parts of the world, seem to be taking a collective sick leave right now. This article is not about the best strategies to stay safe during the crisis, or an assessment about how our leaders are doing. It is about five reasons why the current situation is an amazing opportunity for you.

1. If you are not happy in your career or life, now is a great time to get happy. Yesterday a graduate of the Center for Executive Coaching called me and said, "Originally I thought I would wait two years to start my executive coaching business. But now my stock options are underwater, I can't stomach my narcissistic boss anymore, and I want to get started now. I'm clear that if I only had a short time to live, I wouldn't want to be doing what I'm doing now." We spent some time coming up with a plan for her to make the transition quickly and with the least amount of risk. Times like these bring our priorities into focus and can give us the nudge we want (whether in our control or not) to live the life we want.
2. Service delivery, and work, is going to move even more to remote, online, and distance. Why not take advantage of this great opportunity and jump on this trend? For instance, executive coaches now no longer have the excuse that clients want to meet face to face; they can expand nationally and internationally using video to become the go-to expert in their field. They also have the opportunity to create online programs for passive income. Similarly, a yoga teacher called me for some coaching yesterday. Her studio is emptying out and clients are asking to freeze their memberships. She has been talking for a long time about creating live and recorded trainings that she can offer online and never got around to it. The current environment is forcing her to finally take action and create new streams of income that will pay off over the long term.
3. You might have more time and therefore a great opportunity to invest in yourself, especially through online learning. Many people still believe that they have to attend in-person training programs to learn. That's not true. There are many online options that can change everything for you, if you are open to them. Of course, I'm partial to the Center for Executive Coaching's online/distance learning program, which lets you learn how to become a coach from anywhere, at your convenience and pace. You might find that you have more time while working at home and not commuting. Why not use it to learn new skills that can serve you for a lifetime?
4. This might be a great wake up call to get your finances in order. It is hard to take advantage of opportunities if you are in debt, living paycheck to paycheck (even while making a great salary), and spending beyond your means. Cash gives you the opportunity to invest when prices are low. It gives you a runway to start a new business or look for the job you really want. If you lose sleep because of your financial situation, now is a great time to make tough decisions and commit to get on track.
5. There has never been a more important time to have a Plan B, or Flip-the-Switch Business. A Flip-the-Switch-Business is a business you can start quickly, that doesn't take a lot of capital, and that can be lucrative. For me, that business has been coaching, consulting, and facilitating. I started my practice while working full-time for a consulting firm, and have made far more money on my own than I would have as a partner at my previous employer. These are all easy services to launch, especially if you have the right training and credentials. You should always have a business in your back pocket, ready to go. You can start it as a side hustle, do it part time when you get told to work from home and no one is monitoring your time closely, and jump into it if you get laid off or put on furlough. Along with getting your finances in order, this is a critical way to reduce your risk during this and future crises.

Yes, there are lots of reasons to be worried and concerned, especially if you spend a bit too much time watching the 24-hour news channels or reading some of the panicked posts on social media. I also know that there are plenty of people who will read this and do nothing, which presents even more opportunity for YOU. For those with the right mindset and work effort, today's events present amazing opportunities.

Keep moving forward!