A year in review.
What have we learned these past 365 days from the global pandemic, and its effect on business leaders – big and small.
One of the biggest takeaways is that it’s necessary to pay attention: watch, listen, and assess what’s going on around you and in your industry.
By doing this, you can use a crisis or an unexpected turn of events into an opportunity for growth.
1. Flexibility and adaptability to change
By allowing yourself to be flexible and the ability to pivot, the chance of survival through extreme circumstances increase. With all of the uncertainties caused by the pandemic, it made decision-making not an easy task, along with all of the unpredictability it caused. This lead to many leaders having doubts, and a struggle to move forward or act.
For some, this was a total change of pace and a whole new landscape that they had to learn, and for others, it presented opportunities for innovation or new ways to reach their customers.
It’s imperative that this flexibility and adaptableness is aligned with the needs of your target market, while also meeting internal capacity to solve these problems.
2. Stay focused
With the pandemic causing so many the inability to assess what was to come next, it created a huge loss of focus.
True leaders and stable entrepreneurs know that no matter what’s going on, not losing focus on the ultimate goal and processes will always win out in the end, and is the only way to experience growth even during the most uncertain times.
Keeping that focus, even in times of chaos, protects the companies goals from being knocked off course.
Innovation, no matter the company, is a way to create an advantage over the competition while still staying aligned and focused on the end goals it has set out.
3. Manage your daily life and business with care
With the changes coming on a daily basis, with the pandemic, it showed a lot of companies that they were either in a survival situation or had no idea how they were going to survive.
One lesson that should not be forgotten is that economic results are gained from the effective and confident execution of a company’s interactions with its consumers, as well as from the enhancement of its internal operations.
It is imperative that leadership keep a pulse on this so that they may have sight on where they can improve.
This creates an opportunity to pivot, if need be, or to go all-in when something is working.
Regular check-ins with teams, management, and c-level figures is one of the best standard operating procedures for a company to put in place.
4. Go viral
With the pandemic shutting off so many of the standard ways to connect and communicate with the consumer, in person, there had to be a shift in their processes about how they could keep that connection without being face to face.
This is where taking advantage of technology, social media, and the digital landscape became so vital for entrepreneurs and leaders of SMEs to stay connected with their target audience and customers.
This also allowed them to detect new needs created by them, as well as observing their behaviors. In addition to, the ability to communicate with strategic partners to problem solve in an expedited manner.
5. Create networks
Working remotely, pre-pandemic was not widely accepted by many SMEs. Yet, as soon as the entire world was shutting down, many companies were forced to create remote working situations for their employees and the demand for networks became fundamental to keep the companies running.
There also became a large need for support networks, the purchasing of goods, digital communities, and financial sustainability.
The digitization of everything enabled the further development of social networks, since the whole world was reduced to Zoom calls and FaceTime.
One of the main lessons learned from this past year of the pandemic is that we, as a society, must be open to taking a different view of the things around us.