Evolving Your Business Post COVID-19

 

April 20th, 2021

Thinking  back to this time last year, things looked very different.

For the United States, April was the second month of nationwide quarantines and lockdowns. Morale and optimism were low for many businesses struggling with uncertainty.

While we are not yet in the clear, there are hopeful signs ahead.

This may be an opportunity to evaluate and adjust your business’ activities.  
 

Here are four ideas to help your business evolve its strategies moving forward. 

• More than ever, flexibility is key. This applies to your employees, customers and vendors. Can your business operate more efficiently with your staff working in house, virtually, or a combination of both? Get in conversation with your employees on their level of comfort working in the office and with clients. A modified approach may benefit everyone. 
• As more customers have become comfortable with virtual meetings, can your product or service now be sold in a larger geographic area? Many businesses who previously worked face-to-face have found that the pandemic has successfully forced them to work virtually, thus increasing their reach. Look at ways to address a larger audience. 
• Take a look at the compensation structure for your employees. Can you incentivize them to increase productivity and efficiency while working from home? The pay structure previously used with them may no longer be relevant as the way they work has changed. As the way they work has changed, so should the way they are paid. 
• Don’t forget the power of a phone call to your clients. If you are no longer seeing them in person, phone callas are crucial to maintain human interaction. The personal touch is always more effective than an email. 

As this year continues, we are optimistic for the increased success of all businesses. Remember to ask colleagues and other professionals (your accountant, your lawyer, your insurance agent…) for their opinions, advice, and help.

 

We are all in this together.