Responding to the pandemic with new business models

by | Oct 20, 2020 | Business Coaching, Business Planning

It’s unquestionable that the pandemic has affected business in countless ways, both negative and positive. Many have undergone substantial change such as increased/decreased customer demand, changing modes of delivery for products and services, revised cost structures and alternative use of resources.

The result is that their business models have changed, in many cases significantly and in order to recover and prosper, business owners need to review what has happened and develop a new model for success and growth.

The questions business owners need to answer are:

  • Where they are now?
  • Where do they need to be in 12 months, 2 years and ultimately to achieve their goals?
  • How do they build and understand a new model to get them there?
  • And most importantly what are the practical steps and strategies they must implement now to make the change happen?

However, addressing these questions is just the first step and one which can seem daunting when undertaken without support. Business owners are likely to be faced with the following difficulties:

  • The need to adapt is urgent
  • Where do they find the time to re-model their businesses if they are already firefighting to survive?
  • Do they have the right skills to objectively analyse their businesses in depth and have the courage to make the necessary changes?
  • Do they have the necessary business tools and methodologies they need to undertake the process?

This year’s pandemic has shown that businesses and the individuals leading them are incredibly adaptive even in periods of great stress, which is why this is exactly the right time for them to consider a business coaching programme. Great challenges lie ahead but also great opportunities and the businesses that take the time now to think about how the crisis has changed working practices, will be the ones at an advantage when the dust settles.

A practical and hand-on coaching programme provides the space to reflect on the bigger picture and discuss the challenges and opportunities presented by the current environment in a more strategic way. Similarly taking a step back to discuss the challenges ahead with someone who is not only neutral to the day-today stresses of your business but who is experienced in finding solutions and overcoming obstacles to business growth can be invaluable.

Back to Business: Business Recovery and Growth Programme

At Kingston Burrowes, many of our clients have spoken of the issues outlined above, which led us to develop the ‘Back to Business’, Business Recovery and Growth Programme. Aimed at established businesses looking to reshape and grow, the programme will help business owners to acquire the skills and expertise to re-model their businesses and develop and implement a structured growth strategy.

This hands-on programme introduces practical strategies that build a platform for sustainable business recovery and growth. The programme also introduces the tools and techniques to deliver effective and definable business change and future proof it in uncertain times. Participants are provided with support specific to their businesses, enabling them to navigate their unique challenges and ultimately achieve their business goals and vision.

For more information on the Back to Business Programme, or to reserve a FREE place at the online taster session on 22 October, please visit our Back to Business webpage.

This article first appeared in the  autumn edition of the Borough Business magazine.