It is impossible to accurately predict the impact COVID19 will have on businesses across the world.
The reality is, roughly 40% of small businesses in the US never recover from a disaster. It is therefore crucial to try to resume normal sales operations as quickly as possible by making short, medium and long term goals. These goals will help you move through the pandemic with minimal damage.
It’s clear that your first priority should be your business relationships. Hopefully, by now, you have communicated with colleagues and customers about your immediate plan to continue supporting them.
But now is also the time to think about medium and long-term goals; a challenge, given that we don’t quite know how long we will be affected by the pandemic.
You can plan ahead and prepare for suitable, sustainable adjustments. We’ve seen examples of business innovation that included:
- Sit-down restaurants switching to partially prepared meals that people could cook at home
- Social video platforms offering online educational programs to out-of-school students
- Personal trainers taking their lessons online at a reduced rate, or for free
You may also want to focus on getting rid of any excess weight in your sales process and double down on automation to free you up in other areas.
Of course, it’s sensible to also review your goals as the pandemic unfolds. This way you can ensure you’re on track and protecting as much of your business as possible.
What are your short, medium and long term goals for leading your business through the pandemic?