SMALL BUSINESS SUCCESS
Cornavirus: Working From Home Might Become New Business Normal
As the coronavirus pandemic spreads, a business trend is accelerating along with it. It’s the rapid adoption of the virtual workforce.
Companies have shut down most offices. Many workers have been told to hunker down at home and work virtually.
Some workers are facing a large learning curve. Some will have to learn to perform their duties without the benefit of in-person conversations, or immediate feedback or face-to-face collaboration. Social interaction will also be gone.
Leadership will have to adjust accordingly. Projects may now take longer. Selling cycles may take longer. Revenue will be impacted. Some non-essential staff might be eliminated.
Businesses will surely use this experience for the future. Leaders will analyze what worked and what didn’t. Perhaps they will employ more workers on a remote basis, eliminate unnecessary office space, and/or combine divisions and functions. They will also look for opportunities for growth and develop new products and services to benefit their customers during a foreseeable challenging economy.
The impact of 9/11 brought about a massive change. Should the shutdown extend from weeks to months, one can expect major operational changes for corporations as well. The end result will surely be a shifting to a new business normal, as will be known as the Coronavirus: Working From Home shift.
If your business needs cash flow now, I have the info you need about the SBA “Paycheck Protection” Loan Program under the CARES Act, as well.
Can your business adapt to the new reality of a virtual workforce, while maintaining your profit and growth goals? Contact Rick for a complimentary meeting to discuss your concerns and learn insights from a business leader who has the experience to guide you.
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