How businesses can pivot while slowed or closed during difficult times

MGN

With businesses across the U.S. having closed temporarily or reduced services due to the coronavirus pandemic, company leaders are trying to find ways to stay afloat until the crisis passes – and figure out how to move forward into an uncertain future.   

Dr. Kyle Bogan a business consultant and speaker on workplace culture, says this unprecedented event has caused companies to learn how to pivot on the fly and consider changes that will not only allow them to survive the crisis, but thrive later on.

“Business owners are attempting to balance decreased demand with caring for and providing for their team, and protecting the future of the business they built,” Bogan says. “While there is a negative impact on revenue, many businesses will come out on the other side of this pandemic stronger as a business and stronger as a team.”

Bogan suggests ways businesses can pivot during the pandemic that could help them short- and long-term:

  • Offer online services. “The critical element is to be creative and innovative to find new ways to deliver special services and products to your customers, and discounts where possible,” Bogan says. “They won’t forget that. Going as far as you can for them during an unprecedented time will make it likely they stay with you long after this is over.”
  • Expand how you inform and update customers. “Let your customers and audience know how and what the company is doing, how it’s adapting,” Bogan says. “Moreover, show you care how they’re doing. Offer links of advice on your website to help them deal with the many aspects of this crisis. If you’re authentic and honest, social media is a way to connect in a kind and helpful way, and that will add more substance to your brand’s image.”
  • Tighten connections with employees. Many companies are set up to work from home, and they aren’t as hobbled as others that are not. Bogan says consistent communication, enhanced by video conferencing, is vital to stay on top of business processes and to boost morale. “The entire team needs to be better informed and felt cared for and valued, and email alone isn’t sufficient,” Bogan says. “Owners and CEOs need to be transparent with teams about company situations. That builds trust. Send your team resources for anything that could help them during this difficult time. Encourage professional learning during downtime and get creative input from the team, giving them a stake in the future.”
  • Consider ways to make your culture stronger. Building stronger relationships can help build a better work culture, but that’s only one piece. Bogan says this is a good time for leaders to objectively look at their business culture and find ways to improve it. “The question is, do you want to be intentional about creating a team-first culture that represents you and your business, or do you want it to create itself without a clear vision?” Bogan says. “If you want to experience accelerated growth when this is over, creating a team-first culture is the path you must take. Financial success will follow. People are more willing to spend time and money with your brand if they can feel your team is happy.”

“Truly, we are all in this together – customers, business leaders, employees,” Bogan says. “That’s how a business should think and communicate now during the crisis and going forward.”

–Information provided by News & Experts.