The sustainability of your business isn’t just for you.
It’s also for the people you serve, because your loyal clients or patrons can no longer access the products and services they love. And it is especially for the people you employ, because they’re relying on you as much as you’re relying on them.
Let’s look at sustainability in the context of the current Covid-19 pandemic.
Savvy leaders may have had to furlough some of their employees, but overall they had a plan. They made some changes. They adapted, and because they did they were able to keep moving forward.
Those that couldn’t… they contributed to the skyrocketing unemployment rate.
- Can you imagine if Apple were to go under?
- Or if Disney had to shut its magical gates forever?
Hundreds of thousands of people would have to hear, “I’m so sorry but we’re in a pandemic, there’s nothing we can do.”
Instead, Disney’s executive chairman Bob Iger gave up his entire salary during the pandemic, and chief executive Bob Chapek took a 50% pay cut.
And Apple held its Worldwide Developers Conference online rather than in person, donated over $15 million toward pandemic relief, and even updated Siri to offer guidance if you are showing symptoms.
Big successful businesses like Apple and Disney are big for a reason.
While no one could have been fully prepared to weather a disaster like Covid, they have ways to lessen the blow. They make shifts according to the circumstances. They address the needs of the moment. They funnel assistance into the community.
And, if necessary, they take a loss today in order to stay afloat tomorrow… for themselves, for their patrons, and for their employees.
This is what entrepreneurship is all about.