There is no one size fits all business model. And, as recent history has shown us, there is also no permanent business model. Circumstances, technology and the world are always changing, which means that businesses will need to adapt to survive.
From social distancing to public shutdowns, businesses thriving today remain successful because of their ability to change. The national pandemic response has changed course recently, yet it leaves a lasting impact in the business sector. Some of those changes may disappear completely, but many will stick around in a new business environment.
3 lessons learned
As discussed by AP News in the link above (including quotes from a local gift shop), adaptation is key to getting through difficult times. However, the next step is implementing the successful changes while moving on from outdated concepts. Under a general premise of “finding success through new opportunity,” the article points to three pandemic changes that modern businesses will embrace for the foreseeable future:
- Hybrid business models – For office environments, this means remote work options. But it’s not limited to those who work on a computer. Restaurants and retail shifted toward takeout and delivery options to better meet their customers’ needs. Many consumers, such as disabled shoppers or busy parents, want these options to remain.
- Digital tools – Many businesses previously built their brand through face-to-face sales and training, using digital resources to enhance the company after building a strong foundation. With increased remote work and more digital commerce, it is essential to get a leg up on this side of the business at an early stage.
- Community involvement – While digital tools often make the world feel smaller, it remains true that local resources are often the lifeblood of an organization. Organic interaction and brand building in the local community can help forge a loyal customer base to help overcome untimely obstacles.
An unpredictable future
Communities, culture and the economy are always changing. A business needs a strong foundation, but also an agile one that can adapt to meet the new challenges facing its client base and workforce.
Analysis of trends shows that resilience is best achieved by embracing change and finding the best fit for your goods and services. Any business will change over time. Sometimes that timeline is accelerated by outside forces. Regardless of the cause, every challenge opens new opportunities.
