August 25, 2020
Thousands of entrepreneurs and business managers have learnt over the years that success requires a certain flow- rhythm language. It could be grit, sheer will and determination to build something out of nothing and the ability to pull through despite the challenges.
So, today’s entrepreneur must be agile that is have ability to adapt quickly to a change in the market and be resilient ready to withstand whatever storms or sunshine they experience.
The CORONA virus despite the profound impact on businesses has built resilience and adaptability too, those still standing during and after this pandemic. However, it is important to note that purchasing patterns have changed and continue to change in the coming months and risks associated with them have become pronounced.
In effect we are seeing different prioritising and new ways of managing risk. As an entrepreneur you need to stay visionary, focused, confident and have an empathetic character for the difficult times ahead. Workers need to be assured of your and company’s support. You need to have an inclusion strategy where regular communication with them is a must. They need to be part of the solution rather than the problem. Many companies make these decisions with grace, working within their economic constraints to continue to support key stakeholders including service providers.
Where one is an adaptable and resilient entrepreneur, their businesses have changed or modified their products. In fact, there are some businesses that are doing better now than before the pandemic. There are also new companies, with unforeseen products and services, being invented and/or reinvented almost daily. New times call for new ways of thinking; and new ways of thinking lead to changes in consumer behaviour. For some this pandemic is a perfect opportunity to convert ideas into financially successful products and/or services.