How to ensure your business thrives in the post-Covid world
As a result of Covid-19, many business leaders have become firefighters. The constantly changing situation means companies of all sizes are diverting their focus towards resolving issues brought about by Covid on a daily, weekly and monthly basis. The pandemic has forced many to become more tactical than strategic, as pragmatism and agility become crucial to survival.
But don’t just take our word for it. Specialist business consultancy ‘Up to the light’ recently published their 7th annual report on ‘What Clients Think’, based on 580 client interviews on behalf of design agencies.
Unsurprisingly, this year’s report was heavily influenced by Covid, confirming that 74% of agency clients are finding it extremely difficult or impossible to plan ahead as a result.
A continued focus on reacting to the quickly changing conditions of lockdown has resulted in a frustrating inability to look to the future, forcing businesses to put medium and long-term plans on hold. The report confirmed that 90% of agency clients said that they are unable to give as much consideration to longer term brand building as they would like.
However, looking to the future is more important now than ever, as we get closer and closer to emerging from the lockdown and embracing relative normality once again.
To be in with the best chance of thriving in the post-pandemic world, businesses need to achieve a difficult balance between being tactical and reactive, and thinking of the bigger picture.
Exceeding the status quo
Given the existing ever unpredictable situation, it’s easy to get wrapped up in the now, fighting fires and working hard to maintain the status quo no matter what Covid throws at us.
But maintaining the status quo isn’t what’s going to propel your business ahead of your competitors in the post-Covid world that we hope isn’t too far away. In that post-Covid world, competition for new customers and business will continue to be fierce, if not fiercer than ever.
To be in the best position to launch your business into the post-Covid world successfully, focussing on the strategic plan is essential. Businesses that effectively manage their long-term goals and set themselves up for the future will be in with the best chance of succeeding.
Seizing the Opportunity For Change
The immense changes brought about by the pandemic have been devastating for many industries. However, for some they have provided a unique opportunity to thrive. Just look at food delivery services, home and garden businesses and online streaming services.
But positive change needn’t be restricted to these industries. 28% of agency clients admit to feeling energised by the opportunity for change and new ideas offered by Covid. The turbulence it’s caused has opened up a rare space to make significant changes that might have otherwise been put off in the interest of maintaining the norm.
The instability of this pandemic period allows for a more experimental approach to business that could really make an impact to the bottom line.
However, with many businesses struggling with a lack of time and resources to do everything they want to do, it’s going to take some prioritising.
Which projects that you’ve been putting off for months could help put your business in the best position now and in the future?
Where to start
It’s a frustrating situation when you can see exciting new opportunities but feel like you don’t have the time or resources to take advantage of them. The new challenge is choosing which ones to prioritise.
And when budgets are strapped and time is in short supply, it’s more important than ever to evaluate the potential value of a new project.
You need to ensure the money you invest in a new venture now will continue to be valuable in the incoming post-Covid world. How? Do your research. Work out the figures. Consider the future and keep an open mind.
Remember, the best way to ensure your business thrives in the post-Covid world is to drag yourself away from the day-to-day, embark on those valuable projects you’ve been putting off, and continue to work towards your strategic long-term goals even when your instincts tell you to focus on the now.
And if that valuable project is to do with your presentations, see these 4 reasons why your professional PowerPoint presentation will pay for itself over and over again.