JOHANNESBURG - The coronavirus pandemic has had a far-reaching impact on businesses, with lockdowns forcing non-essential industries into an abrupt standstill. For impacted small businesses, one way to survive is quick and innovative actions to future-proof operations.
Herewith are suggested ways businesses can use to increase resilience:
Value
Spending has not stopped. It has just changed direction. Use online shopping to navigate the lockdowns especially for things like grocery staples and health. Remember wellness and safety are being prioritised.
Diversification
Diversify your offering.The interruption of global supply chains might mean more emphasis on locally-produced goods.
Innovation
Innovating is one of the essential characteristics for any successful business. Be flexible and apply creative thinking. As millions of people now work from home (WFR) and are stuck indoors all weekend, social networking applications are being used more than ever before, with many taking up indoor hobbies like baking – so don’t miss out on the opportunities this might offer.
Virtuality
Use applications likeSkype, Google Hangouts or Zoom to do staff training, business consulting or conferences. Even if you aren’t able to recoup the same income as usual, it will keep your brand visible, which is crucial for setting up a post-lockdown comeback.
Location
Assess where you can replace functions that might rely on physical proximity and re-adjust your business model to be less location-dependent. If you only have brick-and-mortar stores, look to add an ecommerce element where practical.
Change
Consider embracing remote working long-term in your business, since this is the way future work may be headed anyway. Remote working has been seen to increase staff loyalty, enhance worker productivity and lower operational costs. Use the opportunity to set
up more permanent remote working infrastructures and shift processes for good.
Solution
Play your part in good faith if your business is equipped to assist in any way with the national crisis. This could score you favours customers and show your business to be socially conscious – a value which can build brand loyalty in a highly competitive market.
Ben Bierman is a managing director at Business Partners Limited.
BUSINESS REPORT