Thinking Space Paper No.24: Managing transition as a small retailer in COVID-19
The Kübler-Ross Change Curve[1] describes the process of transition from crisis to being able to implement new ideas and strategies. The COVID-19 pandemic has hit micro and small businesses hard. Entrepreneurs are overwhelmed by the level of uncertainty. Many are looking for personalised support to help with crucial decision-making, protect and save their business or explore other ways to survive. Having a mentor has never been more important. This Thinking Space Paper uses the Kübler-Ross Curve to illustrate the rapid transition of a small retailer from the shut down in Germany on 15 March to the “new normal” at the end of June 2020. The rapidity and intensity of the shock and remaining uncertainty demonstrate the need of entrepreneurs to possess VUCA Skills (volatility, uncertainty, complexity and ambiguity), mindfulness, resilience, creativity and communication.
[1] https://www.ekrfoundation.org/5-stages-of-grief/change-curve/