These are uncertain times. I have lost count of the amount of times I have read this statement over the past few weeks, it’s become tiring, but it’s still true. We do know the Coronavirus situation will end, we do know schools will return and we also know businesses will begin to operate again. However, this will take time.
During this unusual phase businesses have three options; sink, swim or perhaps just float. Sinking for some is inevitable, obviously the aim is to avoid this, it’s unlikely any thriving business will sink quickly but without quick thinking and even quicker professional innovation, this is a real threat.
Some organisations will swim, thrive and grow. We can already see the impact lockdown is having on grocery retail and some manufacturers. Coronavirus appeared fairly rapidly, and these companies have had to adapt at speed to capitalise on this ‘opportunity’. This has resulted in a huge sales boost for these few companies but also the opportunity to ‘do good’ during Coronavirus.
Finally, there are the ‘floaters’, this description doesn’t mean to say these companies aren’t trying, changing and growing; it just means they are making the best of this time we have been gifted. Taking a step back from day to day stresses and pressures allows an opportunity to reshape your business, your priorities and ultimately the type of business you want to be post-Coronavirus.
There isn’t a right or wrong answer about the best route to surviving Coronavirus and the inevitable economic downturn that will follow. It’s clear that most companies are trying their best, I have read many wonderful examples of employers displaying empathy and kindness for struggling employees. LinkedIn is littered with examples of people and companies demonstrating innovation and trying to diversify to survive. For me, what is clear is that however and whenever things start to return to normal, the change will be perceptible and will affect us all.