Looking back on where we were earlier in the year “the temporary” national lockdown now looks like child’s play to the now changing levels of restrictions impacting us across the country. Businesses rightly so, were preparing for a short sharp shock that would need to be weathered before returning to some sort of normality. Yet, in reality, it’s a far different outlook as we head into the winter month’s. We now face the stark reality of a world and global economy that needs to function alongside some constant levels of restriction and uncertainty and how we adapt is key.
Business will never be the same again. In the spring we were all becoming accustomed to virtual meetings, distance learning and operating businesses with limited infrastructure and in some cases a concerning low level of human involvement. Now, this isn’t something that was a novelty, it’s something that’s become the norm. Offices are shutting, jobs are listed for “remote workers”, software and I.T has evolved and developed to support the new remote economy. Retail businesses have had to become “COVID Secure” which has done nothing to inspire consumer confidence as footfall and revenues have plummeted with the economy switching online.
Where does this leave you? What are the opportunities? What are the threats?
The single biggest threat is not being reactive. If you and your business doesn’t keep up with the changes, doesn’t adapt as fast as they are happening, doesn’t cut costs, overcome objections and follow consumer trends, you will be left behind, or worst with unnecessary expenditure weighing you down.
Opportunity is rife, but you need energy and enthusiasm to grab it. Find those new demand streams, those new consumer trends, or even just find ways of working the situation to your advantage. Go digital, find ways of reaching your customers wherever they are, evolve quickly and take any time that is taken away from you by closure or lockdown as an opportunity to quickly make those big changes you never have time to make. Building work, office development, marketing campaigns, re-brand, new product development or launch, cost cutting exercise, the accounts, admin, new processes, customer follow up’s…. the list goes on.
Despite all of this, there is support for those businesses that need it, and the number 1 rule, is take it. Take the support you can and use it to survive or better yet grow. Il cover this more in another post on all the different funding available and how to access it.
As always, any questions just get in touch, or comment on social media.
Thomas
