Strategies That Allow Businesses to Thrive in the Post COVID-19 Era
COVID-19 has been the great equalizer when it comes to running a business. Whether your business is small or large, it is necessary to envision how it will operate in this post COVID-19 era that we are living in. All businesses must develop a plan on how they will operate to ensure that social distancing, sanitizing, and customer numbers remain controllable. For some businesses, it could mean a total restructuring of their businesses, looking at new ways to deliver their product to their customers, and assessing what parts of their business are still viable and which parts are not. Going forward, there will even be changes in the demand of what is needed by the customer base overall. Our growth industries have changed and new ones will step forward to address the needs of most customers during these times.
The growth industries post COVID-19 will be in at least eight sectors. They include: healthcare, online education, the public service, e-commerce, delivery and transportation, cyber security, remote work and digital platforms, and drone technology. You may ask, “Why these sectors?” Well, all of them can either be done remotely or while social distancing. Plus, what do you need most during a pandemic? You need people to take care of the sick, and people to provide remote education as we can no longer meet in large groups and sustain social distancing. You need public service employees to keep the economy running and address the day to day needs of our population. Being able to purchase what we need online and avoid the close contact involved in brick and mortar businesses is essential, as well as having our products delivered to us that we have ordered remotely, which keeps our supply chains open. Cyber security ensures that our online activities are safe and free from cyber criminals. Many people working from home are relying on meeting applications like Zoom and Skype and cloud-based systems to maintain business continuity from various locations. Drones provide a way to minimize direct personal contact, because they are the ultimate social distancers and literally the eyes in the sky for some communities.
If your business is no longer viable in its’ current business model, look at how you can change it. It may be as simple as discontinuing some of the products and services that you used to provide and instead offering new products and services that are appropriate for today’s business environment. For others, it may involve looking at how you do business. This includes: how customers place their orders and how they are delivered to the customer, and establishing social distancing measures, policies and procedures to ensure the safety of both staff and customers. If your business doesn’t have an online presence there is no better time than now to develop or increase the online presence of your business. Take a look at the products and services that your business delivers and streamline your offerings. Where possible consider moving as many staff as is reasonable to work remotely from home where their safety is ensured. The most important action of all is to ensure that you ramp up your marketing efforts both online and physically where appropriate.
Smart businesses will find a way to adapt and be relevant even in today’s post COVID-19 era. For example, businesses like K & E Professional Accounting Associates have worked remotely for many years and continue to do so. We offer our products and services online while allowing for some minimal physical contact. It is businesses such as ours that have thrived in the post COVID-19 era. If we can be of service to you, please contact us at https://www.keprofessionalaccounting.com/ .
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