Business lessons to survive Covid 19 that can be learnt…………………………………
We have seen that countries that reacted to the the corona virus have had better results and have got their populations back to operating a lot quicker. The key for business to survive this environment is to “ACT QUICKLY” Companies that act quickly will survive, acting quickly is adapting to the new terrain, if you required people to come to your store then you would need to consider online store to get the same clientele that used to visit your store to visit your online store.
This Virus has found ways to find access to human beings from lasting long on surfaces to finding ways of using touch as another way to get access. The virus has been seen as more lethal to people with Pre-existing conditions. So like the virus, business needs to look at ways to access cash “SECURE LIQUIDITY”. The businesses that are able to find and secure liquidity will survive this epidemic. As the economies of the world shrink the companies that have liquidity will survive.
The origins of this covid 19 virus is said to have links to the sars virus, it is said that it originated from a market, there is also a discussion of it coming from bats. All this shows that this virus has the ability to change and be something else. Business needs to take a page out of the virus, they need to “INNOVATE AND ADAPT”. Business agility is crucial at this time. The ability to see new opportunities, new sources of revenue, new markets that you can pursue is really incredible. Information is everywhere, use it and be willing to adapt and you will see opportunity everywhere during this time.
The covid 19 virus is able to be on many surfaces, this ability to survive anywhere allows for the business to learn a valuable message. Business needs to cast their nets as wide as possible, they need to understand what they did historically and how they will not do it again in the future. Business needs to “DIVERSIFY, DIVERSIFY” They always say follow the money, so in that context the organisation needs to diversify in order to drive through any orders.
The covid 19 virus has managed to bring the world to its knees. It has moved from a city in China to the world. It was a sad scenario on how many people have died. What can business learn from this point? The companies that will survive are those who “WORK DIFFERENTLY AND BE THE QUICKER AND MORE EFFICIENTLY” This is how companies will win, their ability to work more efficiently and quickly will allow the business to grow.
The Virus has the ability to attack people living with pre-existing conditions. It finds ways to use the pre-existing conditions to make the individual sicker. What can business learn from this? Business needs to target the pre-existing bills that might allow a break in payment during this period. The learning is that business must “TARGET” their city managers, banks etc in order to seek relief. Business needs to also target government relief funding.
The overall opportunity to a businesses survival is the ability to treat staff with loyalty and respect. Businesses need to also take accountability for the environment they create for the staff.
Published By
Originally published at https://www.linkedin.com.
