How did Corona affect your business model?

Coronavirus infections are shaking the world socially, economically, personally and psychologically. It affects every industry and department. Corona was a big blow everywhere. Millions have lost their jobs and businesses have been forced to close. Among them, companies that are evolving their business models and companies that are learning to evolve are continuing their business with minimal loss.

Adaptation and evolution are necessary for survival. Companies that do not adapt to the changing times lose significant profits and customers that they should be able to obtain.

Let me give you an example of what companies are experiencing in Corona.

Remote work (work at home)

In a global pandemic, governments of several countries have forced a complete blockade of cities to protect the safety of their people. Important services such as grocery stores and medical institutions continued to operate, but physical stores were greatly affected. Consumers were forced to stay in the nest, and stores that depended on customers who actually visited the store or stores that did not have a mail-order site could no longer make a profit.

On the other hand, we were able to maintain the status quo for companies that can operate without actual visits. Service-based companies that rely on Internet connectivity and desktops and laptops have quickly shifted their work style to remote work. In order to make a smooth transition from commuting to home, we were able to establish a method for efficiently communicating with the team, such as chat, voice call, and video call. Employees who have never used online communication project management services such as Slack and Trello have learned new tools and skills at the same time. Textual communication, such as emails and messages, is more accurate and pointed out.

Employee reactions to homework are complex. While some employees find it comfortable to work at home, employees with families who have to take care of them struggle to maintain productivity. Managers have a better understanding of productivity issues for employees living with their families. It is often said that private and work should not be confused, but there is no other option for life.

Even now, seven months after the pandemic, the culture of home-based work will continue for the long term.

The importance of the internet

As the stay-home life is forced, smartphones will be used to browse the Internet for entertainment, work, news, and other activities. Some people don’t go out to buy groceries. Buying daily necessities online has become the most fashionable thing in history.

For businesses, traditional advertising methods are no longer as viable as they once were. The physical advertising model doesn’t work because everyone stays home. Local store and small business owners who are reluctant to use digital venues to promote and market their businesses are suffering from a drop in sales amid the corona wreck.

Many small businesses have realized the opportunity to move their businesses online and are beginning to use digital media to promote their businesses. For example, there are the following examples.

  • Dentistry accepting online reservations
  • The owner of a small store that creates a small EC site and promotes it on digital media
  • A dance studio that offers online dance lessons to broaden the range of participants

These choices haven’t been very widely implemented for more than a decade, but in today’s world, they are essential for a company to survive.
Now, we are realizing the truth in the phrase, “The only thing that is immutable is change.”

Old habits are hard to change

We continue to talk about adapting to change, but it’s worth noting that companies that still operate according to traditional business practices are struggling to shift their operations to digital.

We continue to talk about adapting to change, but it’s worth noting that companies that still operate according to traditional business practices are struggling to shift their operations to digital.

Stop fax machines and document procedures, and switch to electronic documents and non-contact work. Now is the perfect time to do safer, paperless work. When things get back to normal, you can try other methods to find an efficient way to make a smooth transition and maximize productivity.

Many SMEs are full of customers and do not have time to review their business procedures. Now that the world is stagnant, there is plenty of time. Now is the time to change the culture of the company, review the business, and get rid of the procrastination tasks that you want to do to learn new things.

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