The past few months have repeatedly been referred to as “unprecedented times,” possibly an ode to our inability to predict how to effectively deal with the pandemic we have been faced with. No industry - whether real estate, marketing, education, or fitness - has been left untouched by the pandemic. Although, we couldn’t predict what 2020 would bring, there are a few things we can takeaway as we move forward with the business year...
1. Always have a plan B or even plan C
At the start of 2020, few of us could have predicted the route this year would take. However, the pandemic has accelerated the pace of change in the world of business, and brought shifts we could not have imagined just a few months ago. For example, we have seen remote work is possible and in some cases more beneficial for productivity whereas previously most companies were against this.
The year has taught us that we must stay open to alternative ways of working, and always have a fallback option. When it comes to financial forecasting for example, it may be useful to consider putting a percentage of profit away each month as an emergency fund for additional economic hardships. Companies could also encourage employees to do the same.
2. An online presence is essential
These days a brand’s online presence is more important than ever. As in-person networking remains precarious, brands are seeking new opportunities online. This leaves ample opportunity for those in creative industries who naturally have a talent for innovation to do something different. This kind of online experimentation can create traction through social media channels brand’s may not have previously used to their full capacity. Since we are no longer limited to in-person sales and events, it can be helpful for UK-based brands to look into alternative markets they may succeed in. As we have seen, China's e-commerce market made an impressively fast post-covid revival earlier this year.
3. Learn how to work effective remotely
As we shift to a work-from-home environment, we must find new ways of engaging staff, clients and potential customers. For staff, it is important to facilitate clear lines of communication but when it comes to potential customers, this could again relate to having an impressive and engaging online presence. This is even more important as the online market becomes increasingly saturated, brands want to do something different to ensure they stand out.
4. Communication is key
This is true for both business and personal life. When the pandemic began, many companies realised they were lacking in their communication skills, struggling to keep all employees constantly updated. As we stagger towards something that resembles normality, it may be useful to reconsider communication methods in case there is a need to mass-contact all employees again. Although email is efficient, it may not be the most suitable option for your company. Stay connected and listen closely to employees, clients and the wider atmosphere in the market.
5. Foster ingenuity
The pandemic has shown that it is vital to always be adaptable. Regardless of how well we plan, things may not go our way! As a business it will be important to set aside more time with an appropriate team of staff to brainstorm ideas and make sure you always have a fallback plan.
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