Events of the global scale like COVID-19 pandemic can topple the world with a direct impact on biological, psychological and economic dimensions. The only silver lining I see and remind myself every day is, 'With great recessions & pandemics, comes great innovations.' The Black Death in the 1300s broke the long-ingrained feudal system in Europe and replaced it with the more modern employment contract. Highly improved agricultural productivity was a definite after effect of a deep global recession. Likewise, with COVID-19, we are already seeing early signs of a shift in how consumers and businesses behave. Do read the Cover Story in SURFACES REPORTER (SR) April 2020 on ‘Working from Home - Remote Working.’
The last severe pandemic, 1918 influenza lasted for about two years, with three major comebacks. We are in the midst of the coronavirus outbreak with no clarity about how it will turn in the future. Will it keep returning in waves? We have no idea. One thing is clear – waste no time in over-analyzing and panicking. Get prepared. How you navigate through this time depends upon your mental, emotional and organizational response to it. Let’s boost the immunity levels of our organizations!
Adopt or abolish. Perform or perish.
Problems are opportunities for innovation. Resilient firms are created by leaders and teams that are willing to boldly adapt to their environment without being stressed by circumstantial setbacks. It is okay for leaders to get temporarily intimidated by the severity of issues plaguing their businesses. Pressure builds muscles for the fightback. Innovation is not only about creating a new product or design. It is also about processes. How is your business dealing with the change and adopting means, techniques, strategies will define your future business.
What percentage of your business can go online? It is almost impossible for brick & mortar led businesses to go completely online. But who is talking about going
completely online if your business nature doesn't support it? Touch and feel products can devise new ways to reach customers. Experts are continuously stressing on turning to technology to be more ready to face lockdown like situations in the future with preparedness. It is time to check out Employee management tools, CRMs, and tools & processes for online business management. COVID-19 pandemic has brought the world together to work remotely. This is the new normal. There are various aspects of the business that can be continued online without many disruptions to the services. After all, doing a 10% business is still better than doing no business.
Build up your Brand!
Your Brand's image is directly proportional to your company's behavior amidst a crisis. Are you looked up as a brand/ house/ influencer that care, is innovative, proactive and decisive? Your decisions for your business, employees, business network are your important messages. Keep a check on the messages your company is sending! Do not take any decision with myopic vision. It is a challenging time but remember, it is also the time when the world and your TG are silently watching you. Use the time to build your messages on which the foundation of your brand will be resting in the future. Use the power of your brand to educate, inform, help, and to keep your employees and stakeholders together. Do not go overboard.