A new year, but does it bring something new to the business world? In reality, our calendars have turned a page, but the situation has not changed one iota since 2020. Therefore it is fair to say that the challenges to your business in 2020 have remained the same. Does it mean that you entrepreneurs can effortlessly embrace the new year without worrying about challenges to your business? Things are not so easy!
Indeed, there are no new problems. However, the existing situation has evolved dramatically. As a result, it would be harmful to ignore the consequences created by prolonged exposure to 2020 obstacles. Here’s a brief overview of the most common consequences that entrepreneurs could overlook.
The pandemic situation is still one of the challenges to your business
There are several talks of rolling out covid vaccines around the world. However, business owners can’t afford to relax their attention. Even with a vaccine available, it’ll take a long time to get rid of pandemic risks. As a result, the steps you’ve taken to covid-proof your company are still relevant in 2021.
Now isn’t the time to remove cleaning stations and safety protocols in the workplace. Ideally, companies will need to maintain mask use until the end of the year to reduce the risk of infection. Some customers may be tempted to go back to the way things used to be as soon as vaccines are made available to the population. But you can’t let it happen!
Your sense of direction
What do you want to achieve with your business? For a lot of entrepreneurs, the pandemic has affected the business vision and processes. Indeed, many companies have been forced to shut down or streamline their operations during the health crisis. Consequently, it’s not a good idea to maintain former business strategies and processes. You need to adapt your company to respond to the covid transformations.
That’s precisely where a partnership with an EOS implementer (an entrepreneurial operating system) can make a big difference in addressing your business vision and accountability. Remember that the pandemic has been a wake-up call for the business world. You can’t stay relevant to the post-pandemic market if you don’t change your approach.
Your most important asset: People
It’s easy to measure the impact of covid on businesses: ROI, profit, cash flow, growth rate… Metrics are available to depict an honest image of the pandemic. However, what metrics fail to quantify is the human impact. Employees have faced high levels of pressure and stress, which inevitably lead to a sense of general fatigue. Now’s the time to switch your focus to create a people-oriented company that puts your employees’ needs first.
How can you meet their needs in the midst of an international health crisis? While it might be tempting to wait until the crisis is over to invest in your employees, businesses can’t afford to delay the implementation of a new focus. Helping people go through the transitions and adapting to post-pandemic processes is crucial to alleviate stress. Additionally, business owners have to accept that lack of performance is not synonymous with a lack of work.
In conclusion, companies need to take covid behaviors and impacts into account at the start of a new year. The pandemic affects business processes, vision, and teams. It’s a new year that brings the same issues, which is why you can’t afford to ignore the cost of prolonged covid exposure.
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[avatar user=”mike” size=”thumbnail” align=”” link=”file”]Mike Gaudreau is the owner of The Wealthy Boomers, a site devoted to helping seniors make money online. Mike resides in Montreal Canada.[/avatar]
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