Transforming Your Business for Success in the New Normal
When a crisis of the magnitude of Covid-19 hits, you have 2 options for your business. The default option is to cut costs in a bid to survive. The alternative is to invest in proactively transforming your business to take advantage of new opportunities.
While consumer spending has changed, and many businesses have closed or cut workforces due to the crisis, the bigger story isn’t that Covid-19 is subduing economic activity (which is only temporary); it is that it is accelerating a shift from offline commerce into online, or Ecommerce. Even if and when a vaccine is developed, this dramatic shift in consumer behavior may turn out to be permanent.
More than anything, transforming your business during Covid-19 means going online. Savvy small business owners—from retailers like food and clothing stores to non-retail businesses like realtors and insurance agents—are investing in online tools like websites, digital marketing, and digital payments.
We created the Top10.com small business hub to support SMBs that want to expand their online presence. We have tested and compared all the services you need in order to save you the trouble of doing it yourself. The 10 steps we’ve laid out can help you take your business to the next level—no matter the size of your company or how long it has been in operation.
It was Winston Churchill who supposedly coined the phrase “Never let a good crisis go to waste” as he and other leaders worked to form the United Nations after WWII. During Covid-19, these words are more applicable than ever.
As bad as the coronavirus pandemic and accompanying lockdowns have been—for people’s lives and the economy—no crisis lasts forever. When all this ends, we will find ourselves with a new business climate. Indeed, many of the changes are occurring before our eyes even in the middle of the pandemic.
The journey to preparing your small business for success in the new normal begins now.