I’m bracing for turbulence. To me, that doesn’t mean panic — it means prepare for change and potentially discomfort as a result of that change. Be adaptable.

This is the note the Sequoia Capital team sent to its founders and CEOs last week to provide guidance on how to ensure the health of their business while dealing with potential business consequences of the spreading effects of the Coronavirus.

Coronavirus is the black swan of 2020. Some of you (and some of us) have already been personally impacted by the virus. We know the stress you are under and are here to help. With lives at risk, we hope that conditions improve as quickly as possible. In the interim, we should brace ourselves for turbulence and have a prepared mindset for the scenarios that may play out.

It will take considerable time — perhaps several quarters — before we can be confident that the virus has been contained. It will take even longer for the global economy to recover its footing. Some of you may experience softening demand; some of you may face supply challenges. While The Fed and other central banks can cut interest rates, monetary policy may prove a blunt tool in alleviating the economic ramifications of a global health crisis.

We suggest you question every assumption about your business…

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