Here at Future Done Right(™) we’ve doubled down on Coronavirus coverage and articles.
Why so much thought on this?
Because it is my belief there is no one single thing right now that will have as much impact on the future of business.
Make no doubt the business world will be different because of COVID-19. We are still waiting to see how but the changes have already started.
All of us need to shift our businesses. Some more than others.
Let’s start by looking at the business facts and then move into how to shift our businesses.
What’s Changed Already
People are changing behavior. Stock markets have fallen. People are emptying store shelves. Travel bookings are way down.
Those of us in the world of speaking and events knows a lot has changed. Just today I was sent a link to a list of 167 events that had been canceled or delayed due to COVID-19. I am sure the list was incomplete.
There is a very real possibility a recession is coming from COVID-19.
People are changing how they spend and act.
What’s Likely To Change Forever
It is expected that a lot of what’s happening now will go back to normal after the COVID-19 disease is controlled.
But there is the likelihood things will change forever.
Live events may never happen on the same scale again because of this disruption. The cost – and reputational risk – of throwing a big event and having to postpone or cancel it can be staggering. The memories of this outbreak and the costs will be in the backs of people’s heads.
And other consumption patterns might change too. People that are eating and home now may eat and home more. Some international trips that aren’t happening now may never happen.
Just like other major economic events had lasting impacts on how people think and act I expect this one will too.
In light of the short and long-term changes it’s time we think about how we can shift our businesses for this and future events.
Shift 1: Changing In-Person Contact
The big thing with COVID-19 is the possible transmission by in-person contact. That’s what has everyone changing everything up.
All of the defensive measures to date – canceling events, stockpiling, and changing behaviors – are all about changing the nature and frequency of in-person contact.
We, as business owners, need to think about how to shift in-person contact ourselves.
Much of my business was based on meeting people at live events. That’s all changing now. I need to find ways to connect with people with less in-person contact.
And all businesses should be thinking of the same. How can you supply your core value-added goods and services with less in-person contact?
The materials I teach at live events and the things I discuss with clients one-on-one can all be delivered over the internet. But it changes the “how”.
How can you change your “how” to make your business better with less in-person contact? It may require new thinking but it can probably be done.
Shift 2: Ready For More Disruption
If you’ve been watching the modern economy it’s all about disruption.
Technology has been a big force of disruption. But there are others too.
Recessions aren’t new. Global diseases aren’t new. Even disruption isn’t new.
But with more and more people on the planet and more and more technology it’s safe to say there could be more disruption. More technology changes. And more health scares.
Just more people on the planet and denser populations push us to the possibility of more COVID-19 type events.
And for our businesses it means being ready for more disruptions.
Shift 3: Changing Staffing And Delivery
If you are planning for disruption and for less in-person contact it means different staffing and delivery.
The last few weeks have driven home how important it can be to have people work from home.
And with the possibilities of disasters looming it probably makes sense to have some “on demand” staffing you can call when unexpected things happen.
Take a good look at your staffing and deliver and make sure they make sense in light of the new reality.
Shift 4: More Strategic Planning
One word I’ve heard a lot is planning. And I love it!
I am the Planning Done Right(™) Guy. I own the domain www.planningdoneright.com.
People are celebrating planning again.
And now is a time to plan. Plan for what happens if COVID-19 gets serious in your city. Plan for what happens if another disease comes around.
Make a list of all reasonably possible things that could happen in the next 5 years. Then run what-if planning exercises with your leadership team.
And guess what? Even if those things don’t happen and something different does you’ll be in better shape.
Shift 5: Maintaining Flexibility
All of this planning talk and preparedness leads to one thing – being flexible in business.
We are told to build master plans of our futures – and we should.
But the world shifts. The business world shifted for everyone last week. The game board was literally reset.
Flexibility is a key mindset. It’s also something you should build into your business.
How can you organize your operations to be more flexible? How can you shift faster?
When planning new things think in terms of the plan but also how could you shift the plan and keep valuable assets.
What To Do Now
Get your leadership team together.
This article can be your checklist. It’s time to shift your business.
There is no doubt the business world has changed. Embrace it and find opportunity.
Get that meeting scheduled today!
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If you ever see me in person you’ll quickly notice his unusual suits which he uses to open the conversation of how businesses should Do Business Differently™.
The Our Shawn is based in DeLand, Florida (between Orlando, Florida and Daytona Beach, Florida) and Dallas, Texas where he keeps offices. You can also find Shawn on webinars or traveling nationally or internationally for speaking engagements.
Check me out at: www.planningdoneright.com
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