May 1, 2020

It’s not an exaggeration to say that the coronavirus crisis has affected everyone everywhere.  Certainly, the impact has been greater for some than others, but the impact is still there in one way or another.

On this first weekend in May that usually features the Kentucky Derby, it would be easy to focus on what we’ve lost this year. But the global pandemic is also creating some incredible possibilities. Mixed into the monumental challenges are tremendous possibilities – opportunities to help define the new business environment that will emerge over the next weeks and months.

This is an extraordinary moment in time.

In many industries, it is a time of leveling – a time when businesses are finding themselves on more equal footing with competitors than ever before.  Whether shifting to remote operations, changing work environments, or completely shutting down, almost every business has dealt with dramatic changes in various facets of their operations. It’s been disruptive at best, devastating at worst.

Now that restrictions are easing, the question is turning to the best ways to re-emerge, recapture lost revenue, and move forward in competitive markets. Right now, we are in the starting gate together with an opportunity for a fresh start.

How will businesses come out of the gate?  How will they position themselves in this new race? Will they surge to the lead or fall behind?

Returning to doing “business as usual” probably won’t work.  Too many things have changed.

To be sure, following fundamental principles will make the difference.  Just as successful riders plan for each race, businesses with well-defined plans will be make the most of this opportunity. 

The difference-makers? Market research. Competitive analysis. Systematic implementation.

In other words – smart business.

Take the time to survey the new landscape, take advantage of resources, develop a viable approach, and make an informed entry into the race. While jockeying for position, maintain focus on the challenges and opportunities around the next curve.

It’s easy to run as hard and fast as possible straight out of the gate.  While this strategy might put you in the lead initially, you would also run the risk of fading later in the race.

Again, planning and preparation will be the keys to succeeding – knowing the strengths and weaknesses of the competition, evaluating the best options, and taking full advantage of every opportunity. Identify ways to re-engage your audiences. Look for new strategies to expand your brand. Build an alternative customer/client base.

We will be exploring the role that communications play in smart business. Stay tuned.

The starting gate awaits. Maximize this unique moment in time.