Life lessons from the Coronavirus

Here we are in 2021 and nearly a year of serious global disruption. Businesses have suffered, despite the fact that our government has done a huge amount to offer financial support, there are still businesses that fell into the gaps and suffered financially.

The other side of the coin is that many business people learned new ways of operating.

  • Restaurants launched takeaway services
  • Networking organisations took to Zoom
  • Businesses developed digital offerings
  • People learned to work remotely
  • Families discovered how to survive 24/7 relationships!

The lessons that smart businesses learned was to be flexible and open to change. We're fortunate that we have the digital resources to do things that wouldn't have been possible 30 years ago, or even 20 years ago.

Working from anywhere

Today almost every business depends on computing power to operate - even garage mechanics need to process MOTs online. Staff whose work involves sitting in front of a computer can do that anywhere,

Some businesses and their staff have seen significant benefits from remote working. It has expanded horizons - now staff can be anywhere, so the recruiting demographics have changed. It's a lesson outsourcing learned a while ago, but now it's become mainstream.

  • No commuting
  • More time with family
  • Working times that suit you (with some parameters)

For businesses that can mean

  • Less expensive office space needed
  • Staff who are less stressed and more effective
  • A big tick in the environmental box as travelling is reduced due to online meetings.

Of course, there are people who miss their workmates and managing a remote team is different from having them all in one place. The secret of future success is to take the best from all and integrate.

The latest buzzword - 'pivot'

Business people started talking about the art of pivoting quite early into lockdown. It's all about seeing things from a different perspective. 

Look at what you've got:

  • Skills
  • Resources
  • Potential

Then look at what else you could do with those. Look at the gin company that started creating anti-bacterial spray, the promotional products companies that diversified into PPE, the training companies that took their courses online - there is a long list of examples.

What's the message?

It's a new year and the time that, traditionally, people set goals and plan for the year ahead. So what does your 2021 look like?

Are you waiting for the virus to go away or finding ways to adapt and change?

Are you hoping to get back to your familiar way of working or looking at transforming how your business operates?

Are you worrying about the future or making your own future?

What has this to do with finances? Quite simply, if you're prepared to change and see things differently, your business has a better chance of survival and long-term profitability.

Enforced change can result in exciting possibilities - are you ready to make 2021 successful whatever challenges appear?