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The reality is starting to set in…the COVID-19 pandemic is not going away anytime soon. And neither are the business impacts we’re feeling. Do not let this make you panic. Yes, it feels overwhelming, yet there are steps and tips we can all implement to help ease the burden on ourselves and our business. Read below for the 3 top tips for business survival in a pandemic, so your business can survive and thrive:
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Pivot, Pivot, Pivot!
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Chances are, your company has already pivoted either your offerings, industry or customers during this pandemic. Don’t get comfortable. You need to continue to think on your feet, make fast decisions, and pivot again and again to meet the needs of your customers. Part of this pivoting is making sure you actually have a disaster resistant strategy in place. Not sure what that entails? Read our blog from last week to learn more. This plan will help enable you to make the quick business decisions required to survive an ongoing pandemic.
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Accountability Culture
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It is critical to implement and participate in a culture of accountability. Yes, us business leaders need to participate in it. But we also need to encourage all employees and customers to participate. As VitalSmarts’ illustrated in a recent article, “Successfully doing business in an ongoing pandemic won’t happen unless people hold one another accountable, regardless of position or authority.” This does not mean micromanaging or “tattling” on one another. It means understanding what your company goals are and why. It means making sure every single person involved and impacted takes steps to make them a reality. From health to work quality and beyond, accountability at a 200%+ level is key for business success.
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Community
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We’ve talked about the importance of business community in many blogs, because it has a huge impact on your own sanity and business survival rate. It is easy to isolate in a pandemic, especially when in-person interactions are so limited. The problem? This leads to siloed thinking, and a lack of essential questions and comments about your strategies. So, reach out to fellow business leaders, to employees. Utilize the network you have and focus on building it EVEN broader. This will help you find opportunities in the problems pandemics bring.
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The three tips above are actionable ones you can take steps towards implementing. It can be easy to feel frozen in uncertainty; however, the most important thing you can do is take immediate action. If your first attempt does not succeed, take it as a needed learning experience, not a failure. You and your company have a unique offering that can help our business and personal worlds that have been so drastically changed by the COVID-19 pandemic. Think, pivot, be strategic, and act fast.
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Interested in learning more about business survival? Contact our team at Kim@QuantumMark.com today!
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