The coronavirus’ threat to global business hasn’t reached its full magnitude yet. For the next few weeks or months, organizations will begin to shift to a new virtual work reality. This is the birth of a new digital normal. The million-dollar question is, are you prepared to journey the new normal?
With today’s rapidly shifting business landscape, the strategies you use to run and man your business will need to reflect this shift. Here’s how to prepare your business plan for the “post-pandemic normal”.
Smart Financials
Businesses who have not embraced digital transformation yet will most likely not thrive for long. In these problematic times, change is imperative in order to survive. Take your time to re-assess your priorities especially on your digital initiatives. It is crucial that you think smart when it comes to your budget allocation. Remember, the most efficient and effective way to communicate today is through digital.
When this crisis eases, we will be welcomed by generally new digital expectations from consumers. Is there going to be a major surge? Or a gradual rise? Your cash reserves must be able to respond to these kinds of scenarios.
Right Tools
To mitigate the threat of the virus, many organizations have worked remotely. By the end of this, it is likely that some companies will continue to work virtually while some return to their offices. But how will you support them while they are at home? First, you must re-think your strategies and make them long-term.
You may choose to provide your employees with more consistent access to networks, portable equipment and other communication software. This way you can increase their productivity while at home and you may host more intimate and hassle-free online meetings or virtual collaborations without missing a single idea.
Efficient Staffing
This global pandemic has created a wall in everyone’s workforce. To address this gap, you must continually make efficient and smart staffing decisions quickly. In a workplace, there are three typical employees present:
- Employees who effectively run the business
- Passionate and experience-hungry employees
- Starters who need to be trained
Identify individuals who belong in these categories. Then, instill trust and a healthy virtual working environment. Only then will your team members move to constantly communicate, actively collaborate and align their actions to the company’s goals.
After this review, classify additional skills you will need for the future. These could be people who are experts on cloud deployments, operating microservices, etc. If you plan to add in people, you must ensure that you choose the one with experience and can quickly teach other teams with new tools.
Right Brand Permission
Try to assess, is your brand really a digital brand? According to the Yale School of Management, “Brand permission defines the limits of customers’ willingness to accept a familiar brand name in new marketplace situations.” You cannot just claim to be “digital” and expect people to easily accept it especially when you haven’t been digital-driven, historically. You must earn it right.
Brand permission is something to work on and must need time. It focuses on delivering impactful digital products and services—to attract the people you need.
Digital transformation has since been a thing for businesses. But the global pandemic has only pushed to make it rise to a whole new different level — and FAST. We are living in an entirely new digital-driven world. Businesses can no longer simply sit on their laurels or draw digital out of their lives. On your pool of choices, fishing the right ones will ensure you a good spot in this ever-changing and unpredictable world.
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Ready to transition your brand online? We will be happy to guide you through. Learn more about how we can help you here at https://imanila.ph/lets-talk/ or drop us an email at [email protected].
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