How to Thrive even during a pandemic! Sometimes we have to settle for survival… but anyway...
These hard questions and answers have been crafted, asked and answered in many meetings with business owners in a variety of industries.
Covid-19 is a different animal since every person and all countries are affected. We can’t plan ourselves out of this crisis, or sell services where there are no buyers and we can’t avoid the virus without severely altering our lifestyle. Nor can we geographically get out of the pandemic’s way.
We can learn to live with the virus as best we can and we can make amendments workwise to adjust to the new normal.
Again, we are time wealthy and 2019 was a fantastic year for a lot of companies which puts many in a good position to use the time to adjust to the new normal. As much as most companies have contingency planning, no one had planned for a pandemic that closed all human contact, borders and limited the way people meet, drink and eat.
This is the time to disrupt what we are doing, how we are thinking, and in what manner we are working.
Reevaluate, rethink, regroup, and race forward!
Here are some ideas on steps that can be taken;
GET CLEAR ON THE SITUATION
Understand the crisis - find reliable sources and monitor them to understand what can be expected - this has changed a lot along the way so we need a flexible mindset.
RUN THROUGH ALL SCENARIOS - ASK YOURSELF DIFFICULT QUESTIONS TOO
- Question carrying on with current business, closing down and every scenario in between.
WHAT IS HAPPENING IN YOUR TRADE?
- Review the services and the sustainability of your field and future demand. Is your industry up for disruption are bankruptcies, mergers, and acquisitions happening around you? How does it affect your business?
TAKE STOCK OF YOUR ASSETS
- Unless it’s impossible to try to build on what you have. Can you offer similar products or services that are more suitable for the new normal? What do you and your team do that can be used in a different way.
What is the true skill or product? If you are doing events - what is your core competency? Coordination of many people and suppliers, planning, and sales perhaps? How can those skills be reframed? How about assisting the medical field in getting equipment or setting up meaningful activities for children in smaller groups during holidays and after school?
AIM TO BE FUTURE PROOF
Invent new services that are viable in the future. Is this hard? Yes, one of the things that suffer from social distancing is creativity. The next best thing to a live meeting is a video conference with the camera on! It’s as close as we get to a real meeting. The silver lining is that we can have interaction with anyone, without geographical constraints!
USE THE OPPORTUNITY TO CHANGE EVERYTHING
Rethink how you are working - question everything from employment set up, having an office, working alone or in alliances or teams, work from home or work from anywhere, work a lot, or slow down? Don’t forget to turn every stone, under one of them you will find the key to your future.
LOVE OR LEAVE CLIENTS & BEGGARS CAN’T BE CHOSERS
Evaluate your clients - love them or leave them! Nice clients that pay you a reasonable price and on time are gold at all times and especially now. Clients that are tardy or unreliable payers ask them to pay upfront or lose the business. If each assignment involves risking not getting paid it’s not well spent time. Even in a crisis sound business decisions have to be made.
The key considerations we have had to make in the initial steps in this crisis have been;
- What do we do if business decreases considerably
- Can the team stay intact if we business volume decreases a lot?
- What costs make sense and which ones should be limited or scrapped altogether?
- How do we position ourselves for the future and how do we best use this time to do that work?
- How do we work?
Few companies have gone without harm during this pandemic year. Since government relief programs are in place in many countries it has given business owners some time to rethink and reevaluate their business. It’s been time to think of whether the company has the strength to survive a long lockdown or simply if there is changed behavior on the part of the client base so business owners need to consider alternate products and services.
Most companies have had to consider both long and short term changes. Expanding the product offering, tweaking it to better suit the needs of today is essential for companies that have the ability to survive through a long period of little business.
Some old lessons we have learned from other crisises in our 25 year long journey has been to look at;
- Productivity - do more with less (time)
- Products - how do we meet the market demand?
- Finances - what can we afford and are expenses in line with out longterm goals?
- Location - where do we work?
- Team spirit - how do we keep it up on Zoom?
- Office - do we need one… really?
- IT Security - can we live up to our client commitments? Lots of work with your IT provider has ensured this - it’s important.
- Wellness - very important as many are anxious in times of crisis. Our Monday Motivation & Health sessions sets off the week on a good note.
- Legalities & compliance - To have clear guidelines, rights & responsibilities & to manage expectations it should be tied to legal & policies.
We support companies that are making the switch to Successful Remote Work! Don't be stranger - we can help!