Oleksandr Sivak - how to survive the crisis?

The crisis is a difficult, uncertain and dangerous time for everyone. To survive a crisis, you need to change your mindset to prepare for risk and minimize its consequences. This can be done by reducing your needs to a minimum and constantly evaluating the situation in case you need to quickly adjust your strategy, says entrepreneur Oleksandr Syvak.

Every crisis is unique, and it comes quickly and unexpectedly. In the case of COVID-19, no one could have been prepared for things to turn out the way they did. But you can learn from the past and find ways to protect yourself. The crisis that awaits us ahead will not be an easy time, but knowing that it will happen, we can prepare for it. Knowing about the difficult future, it would be good to have a financial cushion that could support you for a while.

Oleksandr Syvak is a businessman who has been in various situations for many years, so he confidently says that there is always an opportunity to get the maximum benefit from any situation.

First step

The first step during a crisis is to develop three plans, broken down into the following time limits: one month, six months, and one year. In each of these plans, get rid of all unnecessary expenses and stop investing in the future. This is survival mode, so you should only think about the now.

The second step

The next step highlighted by Oleksandr Syvak is to try to assess the crisis every day and be ready to change at any moment. People who were at least a little prepared for the crisis come out of it, self-confident and unbiased. They always remain flexible and ready to move quickly according to the intended plan.

During a crisis, do not forget about your relatives, because despite the difficulties, loved ones who need positive, supportive words.

Chronology of anti-crisis actions

Oleksandr Syvak highlighted what will be useful during anti-crisis planning:

• Stop and think. You need to pause and digest the information you receive, and then think about its impact on the next 30 days, six months, and a year.
• Write down your worst case scenario. Develop your end-of-the-world scenario so that you can make the right decisions if things suddenly go wrong. Do it for both family and business.
• Plan how to get out. Once you have your worst-case plan in place and are able to protect yourself and your family at a fundamental level, start taking risks to prepare for recovery. This requires a bit of optimism, but also being realistic that things can take a turn for the worse (in this case, going back to your original plans).
• Always lead and stay positive. Show your colleagues, family and friends the principle of "never give up" and reassure them that things will get better.

The crisis is a difficult period, but this does not mean that you should give up. The main thing is to plan and be flexible in case of any changes. Everything will be Ukraine!