The New Normal Of Business In The Age Of Coronavirus

As we’ve experienced during the Covid Pandemic, there’s a need for businesses to adapt to the new “normal” of operations. From stay-at-home orders frequently being reissued, work from home, remote learning, and more has disrupted the usual way we conduct ourselves. 

In fact, I wrote about the new strategic realities that Covid has presented for all types of industries in a previous post. From Federal impacts on traditional business, even the consumer market, all business areas have been disrupted due to the Covid pandemic’s effects. 

With more and more people working and learning remotely, several traditional businesses and industries are struggling as a result. Hotels, restaurants, traditional retail are all examples of sectors that are facing an uncertain future. The biggest shock to the system was just how quickly and widespread these sectors were affected. 

Understanding Consumer Impacts

The consumer needs to know what businesses and locations may be affected and which ones may be open when required. Opening up societies and economies versus the health need to control the pathogen has been a hotly debated topic for the past year.

The need to stay-at-home and restrict interactions, mostly indoors, has shown to be effective in slowing the spread of Covid-19. Still, there are economic, mental, and physical health challenges to these lockdowns. These challenges have, no doubt, forced some areas and governments to open up much earlier than desirable.

For example, knowing which markets may or may not be open is essential to know ahead of time not to waste your time or energy looking around. Also, if you drive an electric vehicle, knowing ahead of time if you need to recharge or not is critical. A simple Google search for things such as “stores open near me” and  “charging stations near me” will help you save a ton of time and worry when running your errands.

Regardless of your individual needs, the need to be efficient in your time and with your errands when you travel out. By creating a clear plan of how you go about your errands, you limit your risk of exposure for yourself and limit possible exposure to others. 

There Is Hope On The Horizon

The good news is that Pfizer and Moderna have emergency authorization to use their vaccines, with others being approved very soon. In fact, there have already been some individuals receiving the first dose of vaccine, but until it is more widespread, recovery will still be slowed up. 

The fact that vaccines are already in production and use is fantastic, considering that a typical vaccine can take up to a decade for proper development, testing, and manufacturing. 

With the excellent news that vaccines are on the way, is the pandemic about to turn the corner, and if so, how does a business plan effectively?

The answer is in developing more flexible growth plans with a focus on short-term objectives. Until there are widespread vaccinations, there will continue to be disruptions to societies and industry. By creating short-term goals that focus on what your customer base wants and needs right now, your business will be more flexible and adaptive.

Adaptive Short-Term Planning For Business Growth

Those industries best suited to succeed are the ones that can pivot and adapt to the new “normal” quickly. For example, a traditional retailer specializing in tailoring and clothing for significant life events such as a prom, wedding, or other black-tie events, may struggle until events and parties become safe again. 

Meanwhile, a clothing company such as LuLuLemon specializing in more casual, day-to-day wear may be able to grow and thrive. 

With the political situation in the United States and elsewhere being fluid, politicians’ stressors to get a stimulus package worked out and approved are balanced by the politicians’ political ambitions. 

No doubt that a politician’s desire to be reelected has caused some knee-jerk reactions regarding opening up societies and the economic and health impacts from those decisions. It’s a delicate balancing act between actions that should be taken, the effects on day-to-day livelihoods, and long-term financial considerations. 

Until widespread vaccinations occur, it’s crucial to have a flexible plan to adapt to your business operations’ continuous disruptions. Those who do will find that short-term gains are more comfortable achieving and paired with a long-term outline for continual growth.