How do you and your company get back on track after more than a year in the shadow of the pandemic?
Of course, there are no quick fixes when you want to get started again after the Corona shutdown, but there is plenty of help to be had – even at no charge. In Erhvervshus Sjælland, we have had a Corona Task Force sitting ready over the past year with the Corona pandemic and involuntary shutdowns. Our people have helped both smaller and larger companies with everything from urgent requests for compensation schemes to sparring on the strategy in a rapidly changing business reality.
- Look extra closely at your customers’ behavior
Does your business concept still hold up when we get around to the other side of the pandemic? First, you need to define whether your customers are consumers or businesses. When customers are companies, the sales process is significantly more complicated. On the other hand, there is often a higher degree of fidelity and loyalty to the supplier.
For the B2B segment, it may be a good idea to use the current situation for an increased focus on digital visibility and not least building a pipeline of leads for processing during and especially after the crisis.
For the B2C segment, it is important to be aware of the change in behavior that lies in the fact that people want to work and buy goods from home to a greater extent, as well as the fact that consumers have a greater focus on sustainable products.
- Invest time
For many, the situation is difficult right now, and the less you have on the bottom of the coffin, the more difficult the restart process is. Especially in smaller companies, there is a lot of pressure on resources to develop the business.
Unfortunately, this is a known issue when we have crises like the current pandemic, and the same was actually the case during the financial crisis and the IT bubble of the 90s. All too often, we focus too much on managing the day-to-day operations instead of insisting on developing the business.
Here is my advice to you who are a small or medium business: Remember to allocate some time to consider your positioning in a new reality. It is when you do not have so many orders that you have to be extra busy sharpening the knives and preparing for the next big jerk-in.
- Prioritize creativity
Also, in relation to other countries we usually compare ourselves with, we tend to prolong the crises unnecessarily in Denmark, as a study on innovation at CBS from 2020 also showed. Of course, it is a pity, but for the individual company, there are fortunately ways to take a shortcut through the crises. It is about prioritizing time for creativity, which can be difficult to see the logic in when you are most pressured on earnings. There is also talk of open innovation; that is, how you, with the involvement of external partners, can implement the initiatives needed to create added value in relation to the company’s core task.
- Stay focused on tomorrow’s competition
Here it is important to keep in mind that it can be fatal if you save on the development of your business in difficult times. Remember that you as a business owner, must relate to your future and not your previous competitive situation. It is the upcoming competition that forms the framework for your earnings in a future scenario, which we are only gradually uncovering in our common market understanding.
- Seek guidance
There are no easy shortcuts, but fortunately, there is plenty of help to get both at the local level in your municipality and at the regional level here in the Business House. Did you know, for example, that since 2019 we have gathered networks, sparring and a hub function in Erhvervshus Sjælland? We have gathered financial, legal, and many other strategic options for you and your company, and we have done this to be able to offer all companies with CVR no. a wide range of services and courses.
You can, for example, have an experienced business contact connected to your company free of charge, and you can use him or her for general sparring or as a gateway to much more specialized services – often with grants. Some companies may even receive subsidies for the purchase of equipment. Then do your business the favor of contacting us and hearing about your options.
Do you want to know more?
Contact us at info@hussgroup.net
