It is
possible to grow yet not develop
. A business owner may multiply the number of shop fronts over various
locations[grow]and yet not change, expand, or develop services
rendered, make product offering more buyer friendly, or improve upon operative efficiency.

Depending on the nature of your
product or services, a comprehensive assessment of your business, post-Covid-19, will reflect a
need to makeDevelopmental
Changes
[DC]that put you in
better stead to meet buyer needs, even where these change.Crisis
forces development
, it grants opportunity for
creativity because it shakes our perception of what is sound enough to fly with
buyers, or even possible to deliver, however enthusiastic the provider. You
must be innovative in seeking out new ways to sell and make money, also have
servers who can deliver over and above the new deal and trump the competition.

Crisis
creates a demand on your hidden potential

Needing to make developmental change also forces you
toreview your existing business model[BM]to
determine if it is still a viable way to make profit, that it is worthy of
future investment in the business, and for the venture to sustain itself.
Whatever changes you make in this regard you need manage stakeholders through
the process. A lot of the decisions you make will be a judgment call.
There is little or no information on managing post-pandemic businesses because no
one has been on this path before, although thankfully, many were on a
disruptive journey and now appear prophetic in their pre-COVID-19 business moves.
Find others who are facing your problems too, take comfort in the
knowledge that we are all in this together. Cry for help if you need to, but do
not ne over-cautious or be plagued with ‘analysis paralysis’.

Not doing
anything is doing something!

There are risks in
every change initiative. Can employees work effectively and efficiently from
home with all the likely distractions from children who now attend school online?
How do you structure their time ‘at work’? Can the 9-5 model still
work? Check the assumptions you made previously, do not rely on BMs which are
no longer relevant. Keep asking questions of yourself, your
people, the Sector, and the market, knowing no one has relevant experience or data.
Differentiate between the known unknowns and unknown
unknowns
! Admit you have no ready answers to every situation and put on
a humble, learning cap.

Research
business models that are still working for your kind of business
, be willing to tweak your budget and engage disruptive persons
with talent and digital skills planning to get the best from them via staff
training. You need not plan into the distant future but be sure to have short
term goals communicated to, and with the buy-in of, all stakeholders.

The unwilling
or unable to embrace a changing business will likely infect other staff with a bad
attitude. Make the hard decision to let them go.

DC necessitates improvement to
current operational proceduressuch as your billing system, marketing processes or even branding strategies. You
need educate staff on use of new processes and technology where applicable
.
Whereas all your operations were previously offline, in a digital era, you need
an online office and store from where invoices, payment receipts, product
images, service description etc. are displayed in eye-catching audio-visual
representations of your offering. Staff already know what your customers want.
If you should close high street shops, can they still serve the business?Existing staffmay transmute to Middlemen or Direct Sales Reps,merchandiserswhocreate their own online
store to sell and earn a commission by utilizing your organization’s technology
infrastructure.Take advantage of a myriad ofavailable software which has dramatically improved flow
for direct sales reps and increased productivity for supplier companies.

Remember that team members have a
close knowledge of your systems and processes and may have valuable suggestions
to make to improve business performance, especially post-skill-enhancement,
therefore, be slow to disengage staff and deliberate in deploying trained personnel
to profitable use. Recognize the need to reduce disruption to positive customer
experiences as much as possible.

No creation of value equals no sale, equal no business.

 

#EnduringWealth