Everything is relative to something. There’s no point in an F1 team getting excited about the race car being 10km/h faster than last year if it’s also now 10km/h slower than the competition.
Why I bring this up is simple. In times of uncertainty and crises, no matter what the crisis may be, everything is still qualified through some lenses of relativity.
As an example:
Are you feeling upset because you are stuck at home with the kids and can’t go out? Cool. Are you sick? No? Then you’re doing better relative to someone stuck in the hospital on a respirator. Are you stuck in the hospital on a respirator? Yes? Then you are better off relative to someone that needs one but doesn’t have access to one.
It’s no different when we think about our commercial situations.
Is your business able to operate, albeit your profitability may be about to take a hit? Yes? Then you are doing better relative to someone that can’t operate. Are you unable to operate due to the immediate reduction in demand caused by the outbreak but will be fine once ‘normal’ economic conditions return? Yes? Then you are in a better situation relative to someone who has lost everything and needs to start again. Do you need to start again? Yes? Are you in a society that prioritises the health of its population vs the health of its economy? Yes, then you’re still better off relative to someone that isn’t.
Side note: If anyone debates this last point, they either don’t understand capitalism, or they are a greedy sociopath. Humans produce and manage economies, not the other way around. It’s not capitalistic to put an economy before the health of a population, that doesn’t make sense.
Continually qualifying your personal or commercial situation(s) through a lens of relativity is the best way to front end any uncertainty. Qualify, assess, decide, and carry on. Remember, everything in our modern world is built upon relativity. This doesn’t change in times of uncertainty or crisis. Everything is still relative.
