In the current Corona virus crisis people keep talking about “getting back to normal”. The fact is normal, as we knew will never be again because events like this change things. There will be consequences of the current national lockdown that will bring about changes in daily life that become permanent.
When we eventually find ourselves in a post Corona world we will be faced with a “new normal” and the only thing we can say with certainty is it won’t be like the old one. So, I urge entrepreneurs and start-ups everywhere to look to the future and forge the new normal. This is a call to arms!
Adapting to change
Of course the first thing is to survive to that post Corona world. Corona virus like any other crisis will always create opportunity because things change as a result. It’s how successful we are at adapting our business to that change that is key. Big established businesses may not be able to do much because they are too committed to what they do, airlines for example will just have to ride it out. Start-ups however should be agile; they are not so committed to what they do that they can’t change.
Ask yourself how could what I do help in the current situation and would it move my business forward or at least sustain it. In the current world, for example, where everyone is at home how could my product or service be changed so it can be delivered in that environment? Is there an opportunity to do something new? I’m not necessarily talking about monetary reward here. If you have runway, helping in the current situation could publicise and raise awareness of your business or, help you to build your user base. Think creatively about what you can do.
Now I come to the post Corona world. The key thing here is to look at what’s changing now and to assess the likelihood that these changes will become permanent. If you can do that you will start to form a picture of what the “new normal” will look like. Will working at home finally become commonplace after people have had an extended period of having to do it? Will there be a return to state ownership of strategic businesses? Will existing global supply chains survive?
Will market economics and capitalism die? Will countries become more socially oriented? Will governments reassess their attitude to climate change? These are just some of the questions to ask because there’s one thing for sure; the world will look very different than it did before. Some changes will have started in a small way already, before the crisis, but will be accelerated into the mainstream by it. This is a good place to start; can you identify what they are? Then how can you position yourself for success in the “new normal”? If you can answer these questions, be agile and adaptable your business can help restore the global economy but you have to be ready to move fast. There will be a window of opportunity but it might be short, make sure you don’t miss it!