This year saw an unprecedented disruption in business round the world. Governments issued stay-at-home orders, companies shuttered offices and sent employees home, and many jobs disappeared overnight. Leaders have reacted as quickly as possible by going remote, rewriting policies and procedures, and rebuilding damaged supply chains, but things have yet to return to any semblance of normalcy.
Around the world, economists, consumers, and business owners are all hoping for a V-shaped economic recovery. Unfortunately, lackluster September job growth might be a symbol that recovery will take longer and be harder to realize than expected. and therefore, the delay within the second round of state aid will likely exacerbate the problems you’re facing as a baron.
Perhaps the foremost alarming possibility may be a potential surge in COVID-19 cases because the year involves an in depth. A second round of infections might require further drastic measures, crippling businesses that are already struggling and causing some to pack up permanently. That’s why it’s vital that you simply make preparations that center on pandemic recovery in 2021. By preparing for the worst, you’ll guarantee you’ll stay afloat come the New Year.
#1 Reset expectations for your team
In the current business climate, you can’t expect pre-pandemic results. Pushing your team too hard will cause burnout, which can exacerbate your problems. Instead, encourage your team to take care of a healthy work-life balance to extend productivity across the board. When Guardian CEO Deanna Mulligan noticed her team was overworking during the pandemic, she mandated no-work evenings and required employees to require vacation days.
You should also let your team members know that they will speak up whenever they’re drowning in responsibilities. When employees desire for help, it removes a big block and helps them perform to their true potential. Sue Bingham, founder and principal of HPWP Group, says, “If you assume your employees exerting, care about the company’s success, and have integrity, they’re likelier to act accordingly.”
Homer Nievera, founder of Negosentro.com and CEO of Top Rank SEO Philippines, said that his digital efforts that span 188 countries, has been able to respond to the pandemic and the lockdowns. His SEO team has been working remotely since July 2019. So, when the pandemic hit, besides being well-entrenched in their work, their business grew 100% as they have been setup early.
#2 Prioritize sales and money matters
Taking care of your employees is critical, but it’s equally vital to specialize in your company’s bottom line. After all, without sales and revenue, your business isn’t a business. Unfortunately, lagging job growth in September and October might indicate that the post-pandemic recovery is slowing, so sales are going to be harder to shut.
According to Jeff Winters, founder and CEO of Sapper Consulting, the answer is to prove your value sooner and treat all points of contact just like the final buyer. He says that especially during this crisis, all of their deals are receiving more scrutiny from financial decision makers.
This simply means that in your company, more people are going to be involved in financial matters and things that involve money and the preservation of it.
Sellers should assume that everybody may be a champion, or an individual who will share your information internally.
In Sapper Consulting’ experience with sales in recent months, there are not any final judgment makers immediately. They say that these days, even people who have unilateral authority are sharing the responsibility with teams and committees to make sure that their decisions are well-thought of.
#3 Refocus your time
Evaluate what focus would benefit your business the foremost. does one got to decrease your cost of products sold? Then hamper unnecessary expenditures. Are you losing revenue? Increase your marketing efforts. Is your customer engagement lagging? Rethink your buyer personas. You’ve got to allocate time to your biggest problems to make sure your company’s survival and growth.
Don’t be afraid to also put aside time for high-level thinking, especially because you’re not commuting or happening business trips. BlackRock CEO Larry Fink discovered early within the pandemic that he needed to schedule “flight time” into his weekly routine to preserve his creativity. It sounds unorthodox, but it’s an excellent idea to avoid filling your workdays with back-to-back videoconferences.
#4 Give grace to yourself and your employees
The pandemic crisis has had a great impact on our lives and on the world we live in. As a pacesetter, you would like to acknowledge that fact and answer difficult situations with grace and poise. When your employees are struggling to perform while juggling complex childcare situations, for instance, search for opportunities to ease their burdens. Reach out personally and let your team know you’re there to assist. this type of demonstration will go an extended way in easing their anxieties about the longer term.
While you’re taking care of your team, don’t forget to care after yourself, too. Practice self-care and cultivate your own work-life balance. The pandemic has caused many business leaders to desire they’re on a sinking ship, but working constantly will only lower the standard of your output and send that ship to rock bottom of the ocean. By that specialize in what matters and pacing yourself appropriately, you’ll find that you simply have more control over outcomes than you would possibly think.
If you’re like most of the people, you’re able to put 2020 behind you. That’s understandable, but things won’t magically recover once you hang a replacement calendar on the wall. Instead, use these four steps to be intentional about recovering from the pandemic in 2021.