The coronavirus has changed the way we do business overnight. It has turned the entire world upside down.
Most companies are uncertain about their future. Nobody knows who will come out of this stronger?
What’s happening now is not totally unprecedented, business-wise. We have been through something similar to this before – a few times.
And it is always the companies who innovate, who change with the times, who reinvent their business models, that survive and come out stronger than ever.
Those who do not simply sink and perish.
This may be our first coronavirus crisis, but we have been through situations before where we are forced to adapt to a sudden shift or change.
There have been many cases where companies were put out of business while others came out stronger.
Like the invention of the internet for example. It has put many companies out of business but also made many companies bigger, stronger and better.
It is not the change, crisis or tragedy that makes a company sink or swim.
It is the company’s willingness to innovate and reinvent itself to adapt to the times that makes it survive and come out stronger and bigger.
The companies that continue to do business the same old way they always have are usually the ones that do not survive.
When online streaming became prevalent, physical video stores in Australia fizzled out until they were completely wiped out.
The industry died not because of streaming, but because they refused to change and innovate and adjust to the popularity of streaming.
They did not take advantage of the new technology and adapt it to the way they did business.
People say Starbucks killed many local coffee shops. That cannot be farther from the truth.
It wasn’t Starbucks that killed them, it was their refusal to step up their game and innovate that killed their businesses.
It is safe to say that COVID-19 pandemic has changed the mindset of people around the world. And it may change the way the world works.
When this is all over, businesses will never be the same. The world will never be the same again. And that is not a bad thing.
What is happening now will only make us learn and come out better.
You need to start listening to your target market right now! Observe what people want and need.
Reinvent your business model and cater to what people want and need. Do not just plan about business continuity.
Plan about catering to what the world demands NOW and in the near future. Innovate or die.
If you think you can simply pick up where you left off when the coronavirus is over, YOU ARE WRONG.
What worked for your business before this all started will no longer work when this is over. The “new normal” is a very, very different place to what we are used to.
You need to start thinking of ways of improving your business and how you do your business right now, or you will be left behind.
The world needs better products, new services, and innovative delivery methods today and will continue to do so in the future.
Start now and keep innovating. Keep up with the times and think ahead.
How are you going to conduct business in a totally new world after the coronavirus epidemic?
I certainly hope not the traditional way you have always have.
Business is about supplying the demands of your buyers. What buyers will want and need will be different from what they wanted before the COVID-19 crisis.
How you deliver your products and services will also need to be updated.
The opportunities will still be endless, but you must listen to what your buyers are telling you.
Better yet, anticipate what they will need and be the first to offer it to them. During this challenging time, innovation is your friend.
Tough times call for tough decisions.
Some businesses will need to streamline their products, some will need to downsize personnel, while others need to restructure their business model.
Whatever it is, you must make the tough call. That’s how business works.
Adapting to the times is not easy. What we are going through right now is not easy. Your business survival depends on how fast you can adapt and innovate.
This time of crisis creates opportunities for those willing to innovate. Therefore, the solutions to this pandemic come from YOU.
It’s time to start making some tough decisions and start planning. Do not get stuck, you need to INNOVATE or DIE.
If you are a business owner, you need to think on your feet and start innovating today or risk losing your business.
It’s time to act now to protect your business! Please call us today on 1300 140 576 and let’s make it happen, TOGETHER.