This is not the new normal. There will be no reversion to a sense of normalcy. This is now the new standard. What has transpired globally since early March 2020 has transformed the way business is conducted, the way personal interactions occur, the way we are in public, the way life is done. This is now our collective progression forward.
The expectation that there will be a return to business as usual will not bring continued and sustained growth to your firm. Global and regional business landscapes have been dramatically affected and business will be required to adapt and evolve in order to remain relevant.
Firms that were once only brick-and-mortar are now required to strongly consider and implement online selling options to remain relevant. Firms once invested and focused in one sole industry characterized by declining demand may have to strongly consider diversification into other sectors. And firms that only once focused on a strong regional presence may have to begin exploring new global opportunities. Capitalizing on your firm’s expertise and plethora of soft-skills, while adapting and responding flexibly and effectively to changing markets, is now the business standard. Emerging and progressing within this standard will generate long-term and sustainable business success for your firm.
Ideas to move forward within this business standard include listening and expanding your network, exploring other markets that were never considered before the emergence of COVID-19, developing a business continuity plan, developing new business partnerships, market diversification, implementing robust e-commerce capabilities, and ensuring that you contact SVEIA to provide values-based guidance amidst these new times.