I will refer all kinds of work – professional services, job and business as BUSINESS for this blog for convenience.

The business dynamics have totally changed, especially since the Covid19 pandemic. The labourers, which seemed to be in plenty are missing; the real estate industry is in a soup; investments have come down dramatically; the buying behaviour has changed – people are buying only that which they need and nothing unnecessary; buyers are looking at alternative products especially if it can save them some bucks; luxury goods have taken a backseat; sales through online channel is being preferred; margins have shrunk; volumes are out for the time being, and so on.

If you are expecting that things will come back to normalcy in a month or two, let me tell you that it is not going to be the case. If you think that doing business in the way you have done pre-Covid is going to work, you are living in false hopes. The world is not the same anymore and so is the business scenario.

For anyone who wants to sustain the near future, here are six tinkering points for your business –

1. How are you going to earn right now, without expecting that things will become normal soon? Do you have a plan of action?
2. Is there a related product or service, which, if added, can help you earn business?
3. Can you collaborate with someone who has similar customer base, but different product/ service than yours?
4. What can you do, which will make you stand out from your competitors? Price is definitely not an answer. You will only shrink your take home
5. What is your personal strength? Are you utilizing that in your business?
6. Will your business sustain for the next five years? For what you are currently doing, will the demand for this increase, decrease or stay stable? If you don’t see it increase, you need to give a serious thought about your way ahead

If these points do not ring a bell, then you need to read them again. HOPING that things will fall back in place by itself is a bad strategy. You need to grab the bull by the horn and move things forward. You need to take charge and drive the business rather than waiting for the market to drive your business!

Yes, Covid has caused a lot of damages and heaps of lost opportunities. At the same time, if you’re willing to put on some thinking caps and willing to change, there are a plethora of opportunities.

Stop crying and start taking steps!