I woke up today thinking, for some reason, the new day, the new week, the new month were all going to bring some different kind of stability not yet seen in the preceding six. Predictably, my current world has still been turned upside down—nothing new here—my freshly poured cup of coffee next to me probably my only constant during this remarkable “time of transition.” I refer to this year by that moniker, simply because it makes perfect sense to do so all things considered. Lest anyone think we are going back to the way things were, you shall be sadly awoken to a new reality. The business world has changed forever in 2020 in every way possible. We are living in the current version of a new normal right now. As for the future new normal…
In this year alone, the business community has experienced a very unique trifecta of transformation. We’ve all watched casually in slow motion as three distinct and powerful pillars of influence have been on a collision course with one-another. Only to finally intersect amidst a global pandemic. Each, transforming society mightily, but reluctant to yield ground to one-another. Here, I specifically refer to the health of economy, medical risks, and constraints within this environment for consumers and business owners. And furthermore, how the cultural and societal social issues also bear influence upon it now like never before.
“In this instance, your business model becomes the patient.“
Amazingly, they co-exist. It is our community who must yield to change these days or risk getting lost in circumstance and thus become irrelevant tomorrow. You see it in the media: the latest entrepreneurial causality reluctant to pivot and adapt now closing their doors for good. A new reality, a new normal it is. Any business owner who thinks the current shift in today’s economy is somehow eventually going to circle back to the way it was prior to COVID-19, will sadly be left behind buying plywood and padlocks for their storefront in 2021. It doesn’t have to be this way, however.
Consider your current business dilemma as such; medical professionals didn’t force patients to change their COVID symptoms in order to meet a diagnosis based upon available medicine. The symptoms were reviewed, analyzed, diagnosed, and then treated, using the current data available. There is no vaccine, but the doctors adapted accordingly to treat the needs of the patient today. In this instance, your business model becomes the patient. It is really no different in terms of concept. It is time for a check-up. We already know the economic symptoms (trifecta of transformation). For you, is time to seek an entirely new remedy, not back into one previously re-hashed from the past, the so-called glory days which existed prior to COVID.
Moving forward, you must not formulate any future strategies using the same tired methods, simply because they were familiarly used previously. Public Health Constraints, Social Unrest, and the Economy, will dictate you cannot continue to do so anyway. Back in the day, it may have been all well and good to consider customer preferences, trends, variety, innovation and targeted marketing platforms to analyze the current health of your business. Not necessarily true for today, however.
What ails us has never been experienced at this scale before. Following this logical thought process, why even consider formulating new strategies if we are employing the same tools for analysis which were once used in an economy that doesn’t exist anymore? In essence, don’t adjust your existing operational model to match a diagnosis already formulated in the past, if it has nothing to do with all of these new economic factors influencing today. You must adapt and change immediately.
When the existing model has failed, formulate new business solutions. One way in which to do so, is to consider seeking different sourcing for your information collection. In this case, look directly to those who are shifting some of the economic trends in society. As business owners, there is a powerful voice there for us to hear. Why not examine and listen to what it is they are trying to tell us? Why not try to better understand today’s influencers and what remedies they are seeking? It is they who may be able to unlock some of the strategical doors for a stronger tomorrow—for us.
Why not immediately look at some of those people, causes, and changing consumer tolerances in-detail? Those which have lead us to where we are currently. Focus on the now, and not dwell on the then, for new solutions. The world has changed, yesterday is irrelevant anyway. By understanding the current issues, problems and concerns, you may then begin to represent yourself accordingly, in a much more relevant and contemporary way in this rug industry. Why not also connect directly with those who are experiencing great difficulty in this economy. From there, perhaps offer to help them find remedies, via your new business strategies, platforms and re-positioning efforts? Both sides win.
In the end, we are all trying fervently to adapt and figure how to navigate through these ever and rapidly changing times. If the remedies are currently unknown, the resources available to us should also be treated uniquely. Seek out these new informational avenues to find knowledge-bricks upon which to anchor your new foundation. Build your next business model for the future, brick-by-brick.
It may take a while, but trust it shall be worth the effort you put in. By listening to the voices of change today, and not of the voices from yesterday, the potential can be grand. This writer personally cannot wait… .