Some interesting take-outs from our Sixty-Second Survey. From the poll, it seems that most of you are in a good frame of mind right now. 91% were positive about the future. 82% said business was good. Only 8% said that home working had had a negative effect on their company. And 95% said that morale was currently good.
But it’s not all hearts and flowers. Nearly 40% said that they had cashflow issues. And 44% said that they weren’t receiving the financial support they needed to get through the pandemic. As we all know, Government support won’t last forever, so unless financial issues are resolved there could be problems before the year is out. Which makes the final statistic all the more surprising. Only 4% of businesses said they were seeking new ways of working to grow their business.
From working with many companies through the pandemic, one thing has become clear. Those businesses that adopt new approaches have come through lockdown in a stronger position, and in many cases have grown their business.
We’ve all been forced into a new way of working as a result of Covid-19. But what else could we be doing? Here are some questions to put to yourself:
- Have you found new ways to engage with your customers that ensure they stay loyal?
- Have you found new approaches to keep your staff happy and motivated?
- Have you looked at new areas you could operate in, thereby finding new customers and improving cash flow?
- Have you looked at forming partnerships with like-minded companies to widen your reach?
- Do you have a business strategy that’s robust enough for you to garner investment?
- Have you developed a new strategy to take you through the next three months and beyond?
- Have you a plan in place if there’s a second wave in the pandemic?
Of course, not all of these may apply to you. But what is key in the current economic climate is that you don’t simply cling to the past, and what worked once before. The businesses that succeed are those that look to the future, develop new strategies and take positive action. Fortune favours the brave.