In this episode of Hard Times, I speak with Tamzid Siddiq Spondo, founder of a number of successful ventures across technology, communication, online grocery, and travel and leisure, about how he is dealing with the impact of COVID-19 in personal life and business, the impact of the pandemic on advertising, travel, and online grocery, and the World That is Waiting For us Post Pandemic.
1:42: It is critical to stay strong psychologically in this circumstance.
3:18: Obviously, there is some lifestyle related stress we are going through now. However, it does feel like a significant problem when I think about my teammates who work in a few of my businesses. When I see that they are stressed and worried about what would happen, it makes me stressed.
3:50: When we invest and run a business, we don’t operate with a lot of cash. In simple, we are not sitting on a ton of cash and our runway is not unlimited. What will happen after two-three months, that uncertainty is the biggest source of pressure for me.
4:04: To keep myself off the stress, I’m trying to stay calm so that I can make better decisions, operate at a high level so that we can weather this challenge. I’m trying not to take any pressure myself. There are reasons to be worried. This is not only for me. This is true for every other entrepreneur because you need to pay salaries and all that. I will stay safe and live well but my teammates and people who work in my companies will not, that’s a painful thought to endure. That’s now how I think. My philosophy is that we all will live well together. To that end, how we can ensure that everyone who works in our different ventures stays well is my biggest concern at this moment.
4:54: I’m meeting with my people online everyday and if I show my pressure to them, they will feel stressed. When I’m in a meeting, I try to break jokes and keep the meetings engaging and fun instead of adding extra tension.
5:00: I’m also trying Yoga with my wife.
6:15: Since operation is largely slow now, I’m encouraging my team to learn and do online courses. In fact, I’m asking everyone to do one online course and I’m paying on behalf of them. I’m trying to keep everyone in some kind of engaging activities so that they don’t feel the pressure.
8:11: I feel that the world will not be the same after this pandemic. That’s my understanding. Our life is going to change fundamentally. How am I going to survive in that new world - that’s something I’m thinking a lot. The next couple of months, we are trying to get by but are we ready for the world that is waiting for us post pandemic?