At Nine Feet Tall we like to remind ourselves of the Henry Kissinger quote:
“A diamond is just a chunk of coal that did well under pressure.”
Well, the coronavirus pandemic has certainly brought about more pressure, disruption and challenges to businesses than would have been previously conceivable.
As we all look to the new norm and find ways to build our businesses back up, let’s not rush to return to the exact models we had before. Instead, can we look to build business back to being better?
The natural ‘crisis’ reaction can be to jump to actions and plan to deliver these, but the most effective approach is often to stop, think about the new reality, and orientate within this before you get to the ‘how’ part. Indeed, for many, opportunities will come out of these forced changes, so this also offers scope to move ahead stronger in your marketplace.
Show Your Innovation in Adversity
- New products and services
Turning things on their head, this changing landscape allows, within reason, a chance to explore new opportunities. These could be new services or just a simple tweak to deliver things in a new way. To support this, there is a need to understand the challenges in terms of customer demand, customer service and fulfilment. Take time to understand the new environment you operate in.
- Review of costs
Tighten up your operational footprint. Do you need this much office space in light of WFH (working from home) and indeed WFA (working from anywhere)? Consider downsizing leases or look for flexible office space rather than long-term leases. Co-working spaces will probably not be the same for some time as they forgo hot desks and communal spaces to support social distancing. Also, consider the opportunity to outsource to third parties who are set up to service those specific business processes.
- Customer journey
This is an opportune time to re-map your customer journey and touchpoints, ensuring that you provide not only the right products but also wraparound services and communications to continue delivering the great customer experience they have always expected.
- Agile working
Rather than planning for long extended pilots, trying to prove something is the right answer, switch to smaller experiments and ways of working where you try things and adopt the learnings quickly.
We are experts in delivering change and have worked with many high profile organisations to help them better understand their customers. If you need more information on how to adapt to the new norm, contact EstherM@NineFeetTall.com
