In these days of uncertainty, where do you place your trust?

Six days ago our Prime Minister ordered a “lock-down” of Denmark. Three days ago, the Danish borders were closed. Other countries are taking similar measures. Spain has ordered house arrest, the dead toll in Italy is alarmingly high, and the world’s largest economy, USA, is under water. Economist agree that Europe and US are in recession, even though the data doesn’t tell yet. The central bank, FED, have reduced the interest rate to all time low and promised it will stay low, but so far, there is no visible improvements in the markets. IMF talks about historical sized aid packages and political intervention to avoid a total economical melt-down. 

In Denmark, our government issued a new economic aid package. I am impressed by the way our Prime Minister handles the situation, but also that Denmark managed to negotiate a deal in just 24 hours. All parties are chipping in - the government, industry organizations, employers and employees. The economic aid package delivers one element to secure our economy in an extraordinary situation. But a lot more is required – hence negotiations will continue the coming days. 

The objective is first and foremost to stop the outbreak of the disease and save lives, but it is also to avoid an economical melt-down. We need more help towards the small and medium sized businesses and multiple other industries, that make up the Danish business landscape. There is an urgent need for monetary grants and liquidity aid across sectors. And we need scenario planning on how this crisis will develop, how long it will last, which impact it will make and which leavers we can draw upon. There is a high risk of doing too little too late. In Small Great Nation, we are working on ideas that we will present very soon, but the idea being the economic aid package required is closer to DKK 100-200 billion. 

This is not an easy lesson and we are in new waters. I get daily stories and ideas from our clients and employees on how to move forward. Ideas on how to save our economy. In Deloitte, we do work on scenarios for our clients and the sectors they operate in. What happens with the revenues under different scenarios and which actions do we need to take? It is super important that we learn how to organize and adjust our businesses in different ways towards the market. No one knows what the future brings, but together we can help build the scenarios and how to act in different situations. 

Life can only be understood backwards 

We have gone from super global to super local in very few hours, very few days. Our daily doings have been turned up-side down. We are working from home, while we take care of and educate our kids. It is a completely new situation for everyone. Nothing is like it used to be, and we all need to help each other to find new solutions. In my house, we have created our own school at home, where my three kids still living at home have been part of designing the schedule – perhaps with a little bit more sport than usual. The teachers keep them on their toes – although at a distance. Many organizations provide free virtual teaching. Everyone needs to find new solutions, and we have to stay strong in our spirit that the daily routines are the most important, and that we can find the way forward together.

“Life can only be understood backwards, but it must be lived forwards," said the world-famous Danish philosopher Soren Kierkegaard, referring to the fact that one must live one’s life while it is happening. We must seize the day and be present in the moments of life. These days we are all extremely present in the present! We are super focused. Focused in changing our daily family life. Focused on helping and delivering to our clients, employees and other stakeholders in a new way. Focused on being in constant dialogue and help them navigate. Focused on planning. Focused on leadership from a distance. But the meaning of it all, will probably only be clear once we are out of this storm. As Steve Jobs puts it:

“You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.” Steve Jobs. 

On that note, take care of yourself, family and people and keep moving forward.