I sit here writing this article at a time when the world is facing fear, uncertainty, health risks and economic collapse. The world is facing COVID-19. May we look back at this article in a couple of weeks’ time and laugh at our predictions. Odds are however, that these unprecedented times will change the world as we know it. These times are set to change the way people interact, communicate, work, exercise, entertain themselves, purchase commodities and do business.
Very much like the 9/11 tragedy changed the way we travel, COVID-19 will change the way we do business. People will speak about pre and post COVID-19 times. As with any change, this will not be easy, and some businesses will resist it. Others will not understand how they can remain relevant to the new reality. Some businesses will wait and hope until ‘normality’ is restored. But if normality can ever be restored, can they survive the wait?
Truth is that the only businesses that can weather the storm are the ones who are able to swiftly adapt to the new reality and to the changing needs of their customers. The future belongs to businesses that are able to reinvent themselves and remain relevant to the changing times.
People are understanding, now more than ever, that most of the meetings in person can become conference calls. Most of the travelling to and from our workplaces can be productive time working from home. Most of the shopping can take place online. All of these practices are cheaper, safer for the environment and allow people to spend more quality time with the family. Businesses are understanding that they can still operate with 80% less office rental costs which they can reinvest in their operations. Businesses are learning how they can truly leverage technology to take them forward, rather than the traditional thought that IT is a cost.
Medical science will save humanity. IT will save the collapsing world economies.
IT will save the businesses that manage to reinvent themselves to serve the customer’s new and changing needs. Remember that during a recession, money does not disappear but rather stops changing hands. Money can start flowing back through businesses if clients’ new needs are met. Customers will always need products and services but the way they consume them is rapidly changing. New bonds of customer loyalty will be forming with those businesses that are first to adapt and emerge as innovators in their respective industry.
Businesses are facing a decisive time. Decisions between waiting and feeling sorry for themselves or rising to the occasion and reinventing themselves to emerge stronger than before.
If you understand that circumstances have changed overnight and your entrepreneurial self already has a new business vision that requires a technological platform to take off, speak to one of our professional IT Consultants. We will guide you to realise your idea swiftly but cost-effectively.