The past 12 months have caused huge economic challenges in the wake of the coronavirus pandemic.
As business owners, we are all running our businesses during a time that the history books will pay close attention to.
Historians will attempt to glean valuable information about the best way to navigate pandemics in the world of business, based on our experiences.
However, there are lessons for us all to consider (even now) about how our businesses can operate moving forward…
Adaptability Is Key
As much as we like to be able to plan for the future, nothing is ever certain.
Whether it be political upheaval, pandemics, or natural disasters – we can anticipate these things, but can we quickly adapt?
Stockpiling cash seems helpful (and it can be) to survive situations like this, but there comes a time when all of that money gets swallowed up…
Building the best team can be great idea, until you have to let someone go and morale is ruined…
We can prepare all we want to weather a storm, but Covid has taught us all that the best way to combat the unexpected – is being flexible enough to adapt.
Create an adaptable business model: this will serve any business moving forward into the future.
Working From Home Matters
During the first wave of the pandemic we saw neighbourhoods come alive, and a sense of appreciation towards family and friends.
From a business point of view, it looked as though everything would fall out of control. Would staff workflow be impacted as they worked from home?
In actuality, many businesses haven’t seen so much as a hiccup when it comes to staff workflow.
The healthy work-life balance that working from home creates is one that both businesses and employees will be considering moving forward into the future.
The length of this pandemic has also taught us that working from home (all the time) isn’t all that it’s cracked up to be. The complete physical disconnection of teams does have an impact on vision, togetherness and team morale.
Technology Will Finally Take Over
As more businesses have been forced into working digitally, the door has been opened to a wealth of companies (new and old) who are considering their options online for the very first time.
This ‘forcing online’ will prove to be a learning experience for many, as they spot the benefits that going digital offers.
There is a cheap cost to setting up a small business online, there is an ease to transitioning traditional tasks into virtual ones, and the need for cloud software is becoming very evident.
We’ve said for a long time that switching to cloud software for your accounts and bookkeeping is a great decision! You won’t look back once you move!
Some businesses would never have entered this online world, without being forced into it. Now, it will be interesting to see how much of it they leave behind.
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