5 things to help your business grow post-pandemic

So from connecting with so many of my network over the last few months in great detail, talking over the impacts of COVID on their business, and the predicted future as they try to rebuild lost revenues and pivot to a new commercial Australia.

Some of the topics that have been raised in conversation are around the important things that they need to and are planning to focus on to keep up with the huge changes that have, and continue to take place.

 Here are 5 things that we feel may be important to take into consideration to in order to continue to grow and stay afloat as we move into the end of 2020 and future proof your success into next year and beyond. 

1.Product

Many business’s have been reassessing their product roadmap to adhere to the changed buying behaviours of their customers. Many have focused on helping their clients stay afloat by offering extra services and discounts that were not available previously.

2. Technology & Analytics

We have seen a rise in online behaviours, changing from things like in store purchases to ordering from a website. Many of our clients have realised the importance of having a robust platform to manage an increase amount of traffic and engagement plus keeping track of how and why their customers are doing what they do.

On top of the challenges many have faced with logistics and delivery and even payments. Many of these companies are looking at their existing and new tech stacks to be able to support the new framework and to ensure continued customer loyalty and shopping experience.

3. New Leadership

 New ways of working from home has stripped away the ability to run and manage the team the way most always have. With having to communicate and collaborate in a purely digital environment, and having to make some really tough calls of late, it has shown that some managers have excelled in implementing these new ways of working and communicating with empathy to the business and some haven’t.

With continued changing of tides and potentially some more harsh realities to come, you need a leader that can inspire, and motivate. A visionary, that can be agile in their approach, and above all not afraid to try new things.

4. Flexible Team

Not only will you need a leader that has all of the above qualities but a team that can be very flexible and not rigid in the way they have to work. Some business’s may end up having their teams work from home permanently which may not suit everyone who needs stimulation from an office environment or cant focus themselves away from the distractions at home.

People’s roles may have to change for a period. So with a new vision for your business, you need a new vision for your team. You need hard workers, commitment, people that can come up with new ideas, work autonomously, use their initiative that are able to pivot and flex quickly as you need them to.

5. Cash Flow & Costs 

What this pandemic has shown is that many businesses have been very poorly run from a financial standpoint. I even know some that have had a shocking amount of outstanding credit to collect from their clients – which in turn led to very challenging times for them.

Moving forward we need to be on top of all our debt, credit and work with partners that are upfront about what they can and cant pay for. That way you can be clear on your “actual” revenue forecast as we move into the next few months and into next year with continued uncertainty.

If you are looking for any recommendations on potential new tech partners or vendors to work with, help with future team planning, and hiring then please just reach out to me - [email protected] or add me on linkedin.

#futureproofingyourbusiness #businesstips #growth #business #success #postcovid #help #advice