The Coronavirus took us all by surprise and showed us how vulnerable we are. It filled us with the anguish of an uncertain future.
But the small business community is resilient and managed to overcome this obstacle.
The virus taught us that even the worst crises can bring out the best in us and that the only certainty during difficult times is that there will always be people ready to help. It also showed us that our businesses can help us do much for others.
Now that the pandemic is ending, thanks to the vaccination program and the reactivation of the economy, it’s time to reflect and practice all the valuable lessons learned from COVID-19.
This will help you get back to a better normal.
In this article, we will turn those lessons learned from COVID-19 into opportunities to humanize our businesses and make them more efficient.
5 Lessons Learned from COVID-19
Perhaps the biggest lesson that businesses learned during the pandemic is that their goal should not only be profits but the well-being of the people.
Without employees or customers, your business cannot thrive, even if you have an office or shop, technology, and products.
Here are some other valuable lessons learned from COVID-19:
1. Flexibility is everything
The way we work changed radically. Overnight, we all found ourselves locked in our homes, dealing with family members and household problems while we were having video meetings or making expense reports in the living room.
At the beginning of COVID, it was difficult, and we had to familiarize ourselves with new tools and resources, but we adapted and found the advantages.
No more long trips to the company, no more time wasted waiting for the bus. We now know that we can thrive anywhere.
The key is that we learned how to be flexible and this helped us be more productive.
Many businesses have saved money on operational expenses by realizing that they don’t need a specific workplace. As a result, you can save money and can reinvest it in another type of growth.
Plus, all this allows you to have more quality time with your family.
2. Health comes first
Making employees’ health a priority is one of the top lessons learned from COVID-19.
First, our homes transformed into our offices, but when we could return to work, we made sure that the facilities were safer places for employees, with protocols that’ll safeguard them.
We also learned that our mental health is also a priority.
When the pandemic was overwhelming, we began to look for spaces where we could reconnect with ourselves, face our fears, and relax to get back some of the peace we had lost.
Even now that quarantines are over, continuing these practices is crucial.
The lesson for businesses is that, from now on, they must address the health of their employees (and themselves!) holistically: dedicating resources to take care of their physical condition but also supporting them to alleviate work and everyday-life stress.
3. Customers are human beings
During the crisis, businesses did everything in their power to keep their customers safe. But it was not enough to just offer hand sanitizer or offer home delivery.
Small businesses now understand the importance of creating a community.
This is one of the best lessons learned from COVID-19: we have to connect with our customers on a deeper level because they can suffer just like us.
During quarantines, you had to call them and ask them if they were okay, how they felt, or thank them for remaining loyal to our brand. We also had to tell them that they could count on us and that when everything went back to normal, we would still be there for them.
Never stop doing that.
Sometimes we forget that our customers were human beings too and not just a source of income. But now we know better.
4. Save some money
Nobody imagined that we’d live through a pandemic. It came without warning and took us all by surprise.
Probably we could have avoided a lot of stress if we had been better prepared. But now we can prepare for the future.
Part of that preparation involves creating an emergency fund to get through tough times.
After the first shutdowns of the economy, many small businesses had a hard time getting up. They didn’t have the resources, supplies, or payroll to reopen.
If they had saved a percentage of their income each month, they could have avoided many problems. That is exactly the best way to start a contingency fund.
Businesses that survived did so partly thanks to their savings, which allowed them to thrive even while generating less income. This way, they avoided laying off staff or stopping their production.
Now we understand how to create a stable future, no matter what problems the future holds.
5. Change is our friend
This is definitely one of the most crucial lessons learned from COVID-19. During the pandemic, technology allowed us to be in touch with our loved ones and clients, plus, it allowed us to take better care of everyone’s health.
Businesses that took advantage of technology trends fared better. For example, online video meetings or business apps are just some examples of what technology can do for your company.
This just shows that change is not a bad thing. Adopting trends can make our businesses stronger.
These are some other trends that will continue to help you build a successful business. Implement them if you have not already done so:
- Adapt and update your store to offer a contactless experience. Now all clients feel safer if they can make their purchases without contact.
- Implementing a point of sale system is critical.
- Online communication channels are a necessity. This allowed many industries to stay in contact with their customer and save money in the process.
- Your sales force needs digital tools. Employees will thank you for improved tools to communicate with their customers or to make reports and invoices.
- Take full advantage of all available technology. Maybe you don’t have to buy new software or more tools; just optimize the ones you already have.
If you have an idea to strengthen your business during the new normal, but you lack the money to make it a reality, we can help you.
A better normal is possible for your business
After the storm comes, the calm and the sun rises. A new normal is just around the corner, and you can make it a better normal, both for you and your business if you apply the lessons learned from COVID-19.
You can build a better future if everything is a learning opportunity.
Yes, better marketing strategies and economic aid allowed your business to survive, but what will allow it to keep thriving is putting human beings as your top priority.
If employees can have a better work-life balance and remain free of stress, they will be happier at work and will do their best.
Similarly, if we reach out to our clients and let them know that we understand them and are here to help them, they will be on our side when we need them.
At Camino Financial we don’t leave businesses behind, not even during difficult times.
That is why we create resources that help you prepare for the future and make your business more profitable. We invite you to continue reading: