How Coronavirus Has Brought About a Business Revolution
The year was 1966. Brazil’s soccer team gets eliminated in the group stages of the world cup tournament. Who could have seen it coming? A must-watch team and a defending champion out after only two appearances.
Emotions ran low. Pele couldn’t hide the shame. But all that changed in 1970. The team learned its lesson and revisited the drawing board. It reimagined everything, from its attacking style and cohesiveness, to team leadership and management. And that’s how Brazil not only won the1970 world cup, but its team became widely regarded as the best. Pele was named the player of the tournament.
Coronavirus has made businesses have a near Brazil-moment. A business revolution is taking shape every day. Building a business is quickly changing meaning, with remote working, virtual meetings, and leaner workforces becoming the norm. For example, ‘virtual coffees’ are the new way to network. What else has coronavirus changed?
Before coronavirus, work meant sweaty commutes to the office and all-day physical meetings. Then came the pandemic and social distancing, and businesses had to rethink work altogether.
Remote working, video calls, and virtual coffees are quickly forming the new work environment. While people miss interacting with other humans, the work-from-home concept has brought a lot of flexibility. Employees enjoy showing up dressed casually to zoom meetings. As a Gallup study found out, remote work may survive the pandemic.
While embracing technology in business has been an ongoing process, coronavirus has quickened it. Technology is now a mainstay and features everywhere: from zoom business meetings to getting the product to the customer.
Coronavirus has made physical meetings impossible, and that has affected businesses immensely. Before the pandemic, work meant going to the office physically. Now, meetings, employee training, marketing, shipping products to customers, networking, and other business processes have to happen virtually. Companies are turning to online marketing and customer service, creating better customer experiences online.
Direct to Consumer Business Model
With reduced physical interactions, customers no longer visit physical stores to shop. The product supply chain has dramatically changed, and the current supply model pushes businesses to take their products directly to the customers.
Direct-to-consumer selling is the new norm and is taking shape online. Businesses have realized the benefits of going directly to the consumer. The middlemen (departmental stores) are slowly getting eliminated by the day. Businesses that want to build strong customer relationships must engage their audiences directly. This new normal may continue after the pandemic, and retailers will have to adapt to compete.
Preparing for the Future
Coronavirus has revolutionized businesses, and entrepreneurs have to adapt for current and future success. From joining the gig economy using loan companies near me, to working various jobs digitally and remotely, things have forever changed. They have to rethink their offerings and strategies so they can serve their customers better during the pandemic and afterwards.
With everything now happening online, business competition has taken a whole new dimension. Marketing, generating leads, and even customer acquisition now happen online. Businesses that survive now and in the future are those that create a strong online presence.