While many businesses are re-opening in level 3 of lockdown, having to navigate the financial and operational challenges that Covid-19 has brought to light, business owners and entrepreneurs may be wondering how to adjust to the new normal and what ‘business as usual’ will look like post-pandemic. From addressing supplier concerns, meeting the needs of your customers and ensuring the safety of your staff and customers, here’s what you can expect for business in the new normal.
Where to start?
There are a variety of concerns for business owners presently but according to McKinsey (Craven, Wilson and Mysore, 2020), the next steps will rely on the following stages: resolve, resilience, return, reimagination and reform.
While the order of these stages may vary from industry to industry, to ensure your business goes from surviving to thriving, you will need to reimagine your business model, and quickly. It may seem overwhelming, but the most important part is starting. There is an emphasis on returning to full-speed now that the economy is reopening. Now is the time to confront the challenges as well as opportunities that the new normal have presented, head-on.
With that being said, there are a few aspects to consider as you re-open your business post-pandemic. The following should be considered:
Rethink your business model
Overall, reimagination is needed. Organisations will need to decide who they are, how to work, and how to grow. The financial challenges mean that businesses will need to fundamentally rethink their revenue profile. For many businesses, gradual revenue recovery will not be enough, so business owners will need to rethink their streams for revenue and position themselves for the long term. In this regard, speed will matter and getting ahead of the competition is vital.
Get to the core: the people
One thing that the Covid-19 has taught businesses is that humans are at the core. At the end of the day, your staff and customers that make up your business are human. For those who have been working remotely, business owners have had to consider how their staff can work remotely and reach their customer base who are staying at home.
While businesses are now to re-open during level 3 of lockdown, for staff that can do so, working remotely may offer the safest option to prevent transmission. And for some industries, the working-from-home model has been effective and productive. For those who haven’t yet explored this option, or have not experienced positive feedback from their staff working remotely, there may be a need to reevaluate this option and address the challenges that may be restricting you from reaping the benefits.
For other industries where working remotely isn’t an option, the days of shared office equipment and large employee meetings will be a thing of the past. Businesses will need to rethink the office space and engagement with customers through digitalisation, touchless control systems and adapting operations around social distancing.
For these industries, the health and safety of staff and customers will be of the utmost importance to remain operational. It is no surprise personal protective gear and medical equipment will become the norm in any public space and will need to become part of company policy.
Also, it can be argued that the social contract between the employee and employer will change and that the importance of the health and wellbeing in the workplace will become paramount. What your business stands for and how you operate will matter. Businesses will need to put the safety of their employees and communities first and act accordingly. Companies that adopt this will have a shared sense of purpose and instil a company culture beyond shareholder value. This may involve a company’s absenteeism policy, mental health support policies, the supply of medical equipment and changes in salary structures.
Adopt the necessary tools for the future
While many businesses have already accelerated the migration to digital technologies at stunning scale and speed, every aspect of the digital sphere will need to be considered going forward. From access to data, digital marketing and social media management strategies to the productivity of staff when working from home, safe and contactless engagement and customer satisfaction.
Prepare & protect both your staff and your customers
As the world emerges from the current pandemic, businesses will need to change their fundamental behaviours regarding how work gets done and how to safeguard the health and wellbeing of their staff, customers and community.
Since our inception in 2002, Syntech has helped to enrich the lives of people in Africa with exceptional electronic products. While our core business focus is sourcing and distribution of electronic equipment, technology and digital solutions, by utilizing our existing distribution networks, we have begun sourcing high-quality medical products for the SA market while maintaining reasonable pricing. Now, in this climate, as the economy re-opens, we are eager to support businesses with cost-effective solutions to improve the digitalisation of their operations and customer care.
Be sure to view our wide range of technical hardware and high-quality medical products and contact us – beyond our product offering, we pride ourselves in providing exceptional technical support, delivering more than just a product, but rather creating solutions that meet the needs of businesses post-pandemic.
Click here to view our medical range: https://medical.syntech.co.za.
Accenture.com. 2020. Coronavirus (COVID-19) Business Impact | Accenture. [online] Available at: <https://www.accenture.com/za-en/about/company/coronavirus-business-economic-impact> [Accessed 3 June 2020].
Craven, M., Wilson, M. and Mysore, M., 2020. COVID-19: Implications For Business. [online] McKinsey & Company. Available at: <https://www.mckinsey.com/business-functions/risk/our-insights/covid-19-implications-for-business> [Accessed 3 June 2020].
Mkhabela, M., 2020. Nine Ways You Can Try To Save Your Small Business Post COVID-19.. [online] CNBC Africa. Available at: <https://www.cnbcafrica.com/coronavirus/2020/05/02/nine-ways-you-can-try-to-save-your-small-business-post-covid-19/> [Accessed 3 June 2020].
Pearlman, L., 2020. 6 Steps To Reopen Business Post-COVID. [online] BRINK – News and Insights on Global Risk. Available at: <https://www.brinknews.com/6-steps-to-reopening-for-business-in-a-post-coronavirus-world/> [Accessed 3 June 2020].
Slater, D., 2020. Business Adaptation Key To Post-Covid-19 Success. [online] Engineering News. Available at: <https://www.engineeringnews.co.za/article/business-adaptation-key-to-post-covid-19-success-kearney-2020-05-08> [Accessed 3 June 2020].
Sneader, K. and Sternfels, B., 2020. From Surviving To Thriving: Reimagining The Post-COVID-19 Return. [online] McKinsley & Company. Available at: <https://www.mckinsey.com/featured-insights/future-of-work/from-surviving-to-thriving-reimagining-the-post-covid-19-return> [Accessed 3 June 2020].