Economy Opening Up

While there is a lot to be celebrated with the economy opening up during this COVID-19 recovery period, there is a heavy lean into more flexible working for office-based jobs. 

A lot of lessons have been learned about the economy and the resilience of businesses, both large and small.  Perhaps one of the biggest realisations is that office managers and corporations of all sizes saw that actually, they could function well at home – in fact, they flourished in most cases. 

Of course, the real road to recovery for many businesses might take years, because the reality is that many lost employees, and months of revenue. Applying for schemes and grants to stay afloat. 

But there are strategies that a business can use to grasp the economy opening up with both hands, and thrive. 

Revenue

It cannot be a slow and steady revenue recovery. Companies adapted and changed their business models, kitted their home working for staff out with desks, chairs and extra screens and moving into that agile and bootstrap start-up mentality. Leveraging the possible technology and digital platforms we have access, looking at where the primary revenue sources were and where there is room for growth. Looking to increase revenue quickly and efficiently. 

Rebuilding

It is the same business, but maybe it will never look at how it did pre-COVID. Global supply chains were highlighted as a huge bottleneck, and the fragile nature of it impacted millions. Pushing companies to source produce, products and materials closer to home. Resilience is the order of the day here. A key lesson learned is the fragility of shipping processes, more so when you are reliant on imports from further afield. The acceleration of the end-to-end chain is essential. 

The Future Face Of Work

Investing in digital tools and automation, supporting training in new skills like How to Host a Zoom Meeting, or Giving Presentations in a Digital World will give your staff the capability to thrive in the new work-scape. 

Your Business Reimagined

Covid-19 forced businesses to be faster, to be more future thinking, and to act. There was no space to test and retest four different plans. It was time to take a leap and make it work. Restaurants are turning to take-outs, a higher rate of farmer-fresh produce boxes available, and an incredible upturn in online ordering and making delivery companies the champions of the retail sector. 

While almost all businesses have an element of digital, it was the one thing that could keep a business connected to its customers. Those email newsletter now being worth their weight in gold, and being leveraged to keep those sales rolling in. 

The early COVID-19 recovery period for businesses is in the near distance, and the long-term recovery is fast approaching. The economy is opening up and you, as a business owner or freelancers, need to be prepared to equip your staff, exploit your strengths, and adjust both yours and your customers’ expectations going forward. 

In a COVID-19 recovery world, what became most important was the health and wellbeing of staff, the ability to adapt and reimagining how the future of your company will look.