The new normal demands agility and understanding of your customer values.
COVID19 has far-reaching impacts on our lives, work, and economy. Companies are struggling to understand its full impact on their business to prepare the best response. Many of them have started to invest in the emerging opportunities in the current scenario.
Agility is the need of the hour for the companies in this once-in-a-generation challenge. In the current context, it is not only about capturing revenue, but it has to be done quickly. First movers will get significant rewards in this race.
This is the time when leaders need to take an approach to drive revenue for the organizations. Here are five steps to bring growth back to your organizations post COVID19.
Startup Approach
No matter how established and large organizations you are, this scenario is demanding a startup approach. A startup approach is about having a mindset where action is at core of the activities. A startup mindset will help you to develop and implement an agile rhythm in your daily schedules. Let’s conduct the regular team meetings of 15 minutes, weekly 30 minutes review of the team with CEO, and monthly hourlong review. Keep everything at faced pace; let the accountability flows in your organization with agility.
Keep People At The Core of Your Activities
Internal and external customers should be at the core of your strategy. Companies need to rethink their operating model to drive rapid action resulting in growth. There has been a significant shift happened in the workforce culture. People working remotely should be loaded with all the required training and assets. Internal customers may require a completely different set of skills and capabilities to perform better in this situation.
Digital Transformation is a new weapon
The sooner, the better is the case with accelerating your technology and digital segment. In the growth recovery battle, digital transformation is your ultimate weapon. You need to have several other things in your armory, but digitalization will determine your success in this battle. Many companies have started integrating innovative technologies in their operations to reduce the cost and improve the operations.
Customers’ Buying Journey Is Changed
A customer-centric approach is not a new principle of business success, but companies need a recalibration of how customers will make a decision now. The customer buying journey is completely changed. Companies need to rethink what customers now value. A more granular approach to segment the customers is required.