The Silver Lining in Covid 19 for Professionals and others.
Madhukar N Hiregange
Founder Partner H N A & Co LLP, Chartered Accountants - Indirect Tax
It is said all dark clouds have a silver lining. In every adversity is an opportunity.
In this pandemic, a few sectors like the information technology-related, the pharmaceuticals, and the health care sector have their hands full and from a business perspective are good. Others are impacted adversely in most parts. However, each and everyone is losing a friend or relative with fear gripping us. This is not helped by the multitude of bad news (shown several times), whatsup videos/ messages where bad news is 99% heaped on us. Many have stopped watching the news and whatsup!! Many have limited the time devoted to social media.
This is like the Tsunami going on for months. We are no longer certain when this increasingly deadly virus would end. However, like everything in the universe, the pandemic is also transient and would go in due course of time.
Getting vaccinated + taking due care is within our control where possible.
We all know in this universe we get what we focus on and maybe all of us are doing exactly what we should not be doing??? Can we focus on the brighter side of this lockdown? Can we move from lack to abundance? Can we move from victims to leaders by changing our conversation, thoughts/ beliefs and the consequential actions?
This would keep our spirits high and also avoid spread of panic and fear. As a professional I see the areas I can impact sitting at home as under:
A. Clients:
1. Work delivered for clients in past – is there any gap, any service which was not done at that time due to time constraints. Ex. 9C certification was invariably done is a hurry. If we can review our working papers- then we can give a supplementary report/ opinion.
Follow up to ensure compliance or value adding observations made in the past.
2. Have a one-to-one conversation with all our clients- they also would love the interaction and have the time for it.
3. For managers/ partners may be a good time to enhance productivity and time management using the 4 quadrants of urgent vs important tool. See what activities in Q 4 can be eliminated, Q 3 – See what non value-added activities can be avoided or delegated, Q-2 Focus on the important aspects such as health, growth, knowledge accretion, skilling, prevention measures to avoid getting into urgent, near to of over deadline tasks, Q-1 – Look at reducing the time for fighting crises.
4. Brainstorm the possible additional services possible in WFH situation and outline activities to delight the clients. [focused training, sharing relevant updates]
5. Get documentation in place, review the reports for possible improvements in the future.
6. Get old checklists, standard operating procedures updated, design processes to reduce time using excel/ bots, policy relook etc.
7. Take up longer-term projects on the drawing board.
8. Plan for post pandemic positioning of the firm, service bouquet, change management for rejoining staff who were used to a relaxed working.
9. Build a name of being a contributing professional by analysing and sharing insights obtained with fellow professionals/ clients.
10. Take up research project of future problems envisaged.
11. Suggest measures to mitigate the working capital shortage which most would be facing. [ at least our fees maybe released early due to our proactivity]
B. Self:
1. Listen in on many experts on subjects or our interest. [ In this time many focused workshops would be there]
2. Focus on Q 2 activities of adding to knowledge, getting/ enhancing skills of communication, presentation, analysis, language.
3. Connect with the junior staff one-to-one to ensure delivery. If work less then on their training/ skill development.
4. Start a deliberate gratitude journal to keep spirits up as well as build a tool for eternal optimism.
5. We are the blessed section of society- look at how we can contribute to alleviate or reduce the paid/ suffering of others.
6. Study for additional course which require more time.
7. Ensure that exercises are done 2 times a day whether indoor or outdoor.
8. If interested take up meditation as a method of calming the mind.
9. Read different books- many free online books are there. Buy on amazon the books which were planned to be read in the past years.
10. Hear autobiographies of great people- listen to TED talks and other motivational talks.
C. Firm or Organisation:
1. Come up with a best practices to serve clients, staff knowledge/ skill upgradation, capture, indexing and sharing the knowledge available within the firm.
2. Enhance the one-to-one connect with all the staff from top to bottom.
These are only the first thoughts to choose to look at the possibilities of not drowning in our helplessness but look at that which is our control. Some aspect borrowed from the article for professional firms in pandemic published early this year by BCAS. All the best.
Founder Partner H N A & Co LLP, Chartered Accountants - Indirect Tax
3 年Shama ji- indeed many many advantages- less deaths on the whole- hardly any road deaths....
Chartered Accountant at nadsar and associates
3 年Thank you for the wonderful article, setting the ground for making lemonade when sour lemon is handed down to us.? May I share my personal experience? 01. During this period I am relaxed while doing daily pooja. No rush. 02. Initiated studying GST full time, about 6 hours daily.? Mainly Youtube, Hiregange Academy, ICAI and SIRC resources.? Making notes. Trying to answer gst questions in whatsapp groups. 03. Doing only what is possible to do from home. Thank you. 04. Reading other books of interest.