Have You Tried Adapting Your Business Model?
We’re already seeing companies adapt their business models to address changing market needs, wants and demands.
Things that would have once seemed impossible are now possible. Who would have thought that:
• A Formula 1 consortium would start manufacturing ventilators for the NHS.
• Dyson would turn their development and production skills to deliver a new form of ventilator.
• A 4,000-bed hospital could be built in 2 weeks from scratch.
• Homeworking could become acceptable and that we can operate using conference calls. • Gyms would morph from central facilities to in-home work-out zones.
• Your local fine dining facility would offer takeaways for food and wine or offer an online grocery store.
These are all crazy strategies that companies would not have considered before. The evolving environment brings new challenges and requires new thinking to overcome barriers. Existing ways of operating may have disappeared.
Don’t hesitate to think outside-the-box. Actively encourage and empower those around you to do the same to maximise idea generation and continue to satisfy your customers after the Storm.
To get ahead of the curve, get creative, define your new normal…and start now.