Hunkering Down and Navigating the Unprecedented Crisis within the Live Events Industry.
The live events industry is no stranger to tough times, but today we are dealing with the fight of our lives. Uncertainty around the world is taking its toll on our industry with the global outbreak of COVID-19. The word “cancelled” is the new normal and has created a wave of unprecedented economic impact that has swept across our industry.
In addition to the financial implications, there’s the general feeling of helplessness and stress that go along with it – how to prepare, how long it will last, how bad it will get, and how to survive. The state of flux with the travel restrictions, people sheltered in place, social distancing, and the potential viral spread have our emotions ranging from worrying for each other’s personal safety and health to whether our businesses will rebound down the road.
These are dark times, but in times like this, it’s important to remember that our industry is strong. We are a tough group. We were built to resolve, and we are adaptable. Our industry has dealt with economy crashes, natural disasters, and terrorism in the past. We’ve endured through stretches of cancellations, scopes changing to web streaming, and event budgets tightening across the board. We have experience with both short- and long-term downturns in the event world and have come out on the other side to tell the tale. While this crisis with COVID-19 is uncharted territory, there’s one thing I do know: we will be back.
People need to meet and gather; we are social by nature. While isolation from others and limits on large gatherings is necessary right now to stop this virus, it can only be a temporary situation. Web streaming and video conferencing technology are viable options for meetings during this COVID-19 crisis, but these solutions cannot replace the value of in-person events for the long term. Once we defeat this virus, people will come out of their home offices, take off the masks, and feel an even greater need to network and make personal connections.
In the meantime, the challenge with not understanding the timeframe to this crisis is frightening, and we are left with tough decisions with our companies and employees. This is a time where leaders need to lead and chart a course to navigate the obstacles to protect the business to ensure its survival as well as create opportunity for it to thrive again in the future. As business leaders, we are tasked with making decisions that impact lives, and keeping the ship barely afloat in these tumultuous waters is extremely difficult and filled with disappointment and unhappiness.
Unfortunately, the reality is likely that the situation with COVID-19 will probably get worse before it gets better, but we need to hunker down and attempt to stay positive. This is easier said than done, but negativity and paranoia instill fear and spreads worse than a virus. This is an industry filled with superheroes and we know how to deal with change. We are experts at handling challenges, adapting and resolving issues quickly so the show always goes on. If we draw on that innate adaptability, we can survive this crisis.
We may need to get creative during this time, but that is right in this industry’s wheelhouse. I don’t have all the answers, but I know we are a resilient community that will recover in the future and eventually be stronger than ever. Our purpose in the live events industry is to help people come together and communicate their messages. When this outbreak has passed, people are going to come out of seclusion with a greater need to meet than ever before, and business will be booming. In the words of the Dalai Lama, “Choose to be optimistic. It feels better.” I wish everyone the best health during this time, and the strength to see the light at the end of this dark tunnel.
