The COVID-19 pandemic has forced businesses worldwide to a weird, unprecedented halt. Naturally, we receive mixed signals from various industries, regions and companies. Some struggle to maintain profitability while others seem to prosper.
Regardless of where your business stands, adapting to new circumstances is necessary. As an entrepreneur, you need to fuel and inspire transformation, either to keep your organization above the surface or to ride the paradoxical wave of opportunity.
What Are the Main Factors that Affect Business Amidst the COVID-19 Outbreak?
- “Stay Home”: Governments worldwide either urge or force citizens to stay at home and limit out-of-home activities. This directly limits and affects the way we produce and consume.
- Social Distancing: It is the best way to flatten the curve. As a result, people limit or cancel gatherings of various types. Additionally, it currently sounds like a bad idea to flock in grocery and retail stores. This limits revenues of brick-and-mortar stores.
- People Worry: We have developed numerous tools to keep the world going, even amidst extreme circumstances. However, people’s attention has shifted dramatically because they worry for their lives. So, things that used to matter will not be at the top of their list for quite some time.
How Can Businesses Adapt?
At this moment, we all face two main challenges.
- Keeping Profitability Going: There are two ways to do this;
- Diversify Clientele: By having a diversified clientele, you naturally reduce your exposure to individual client failures, which are highly likely in times like this. Unfortunately, there’s not much to do with regard to this at this point.
- Diversify Sales Channels: During the current situation, it is important to have a product/service portfolio that is able to solve the problems of various client profiles. Additionally, the importance of having access to online channels is greater than ever. In a few words, now is the time to optimize your online presence. Go online and do it well.
- Take Advantage of the Pause;
Although COVID-19 seems to have paused everyday business activities, insightful companies have been accelerating their Digital Transformation plans as we speak. This is happening for two reasons:
- The pandemic revealed key dead ends about the way business is conducted on a global scale. It is now clear that the future is digital. The more digitalization is incorporated in a business, the greater the overall efficiency.
- There is no better time to integrate a new digital culture than this current pause. Now businesses have enough time to interact with the new paradigm without being pushed by everyday friction.
What Is Digital Transformation?
It is the process of adopting digital means to battle continuous business challenges. It helps make everyday business activities faster, cheaper, automatic and frustration-free.
The real value of embracing digital technology is not simply about enhancing and supporting traditional methods of conducting business. On the contrary, digital transformation promotes original creativity and innovation.
Going digital is not just a nice thing to do anymore. It is an absolute necessity for any organization that wants to compete and thrive on a global scale. For example, high availability cloud computing allows all industries to conduct business in a cheaper, easier, more secure and more reliable way.
How Can MassiveGRID Help You Go Digital?
In this context, MassiveGRID can help you facilitate change in two ways;
- Our Business Continuity Plan allows us to be capable and confident of accommodating the increased needs of clients who face unexpected workloads caused by any uncomfortable situation like the current global disruption or need to stress test their overall capacities.
- Numerous existing clients have contacted us to co-develop custom solutions that will help manage their existing situation and/or transform their business to accommodate the changing needs of their clientele. Feel free to contact us to discuss further if you face similar challenges.
What Should You Do Now?
- Create Online Sales Channels: If you are losing revenue due to the closing of your physical points of sale, it is time to interact with your clients online, through highly available, secure e-commerce channels.
- Minimize Productivity Friction: Help your employees go remote by providing them with a secure Remote Desktop solution.
- Keep Your Team Organized: Remote working is on the rise. So are digital security risks and the challenges of staying aligned with your stakeholders. Work through a Cloud Collaboration Platform offered through a Secure Cloud Provider.
For further details on how we can help you navigate global uncertainty for the duration of the COVID-19 pandemic, please contact us at our dedicated email address: covid-19@MassiveGRID.com
Regardless of the circumstances, we are here to help you deal with each challenge in the most efficient way.