Steve Jobs famously said, "think different". This is a moment to do so. Yes, it is scary out there for some and while it is OK to be worried and unsure, there is surely too much time for that alone and in general it will not help.
While I wrote about taking action in an earlier post, it can help to think about what happens after as surely things will go on. When we restart our businesses and expand our activities one thing is clear, it will not be the same.
Some of this will come due to lessons learned. Some of this will come from new business realities and new consumer realities.
Does anyone really think things like consumer behavior will not be altered? Whether it is due to budget and economic issues or just liking electronic interactions or new things tried in quarantine, it is more likely than not that their buying, trying and other patterns and expectations will change.
Surely expectations for our supply chains will be altered. Is "just in time" now so broken by this new reality the thing we will return to? Do you have a forecasting and procurement system in place now to deal with what we will see?
How about how we interact with customers new and old? Will we be calling on people in the field or at trade shows and events? Or are video conferences and digital marketing outreach the new methodology?
I am not a prophet though I have my ideas about what may change. The message here is to think about it for yourself, your business, and to think different. Consider if your organization is set up to focus on what the "new normal" will be. For example, is your sales staff the right one, or do you need people who can reach out with digital methods? Is your buying and cash conversion cycle right for the times? Can you do business purely digitally and do you have the expertise to do so? All of this is a necessity now rather than something to get to later.
These are not the only examples. It may be your product and service offer, your methods, your marketing. Whatever. We surely all have some time to get some perspective, do not waste it. While we are here, think different about what is to come, make a plan to address it and embrace it. There is no doubt that those who do will also do best. If you are not sure about what to think, or to do, or how to proceed then let's talk. We like to think different here and have been thinking about this a lot.
We at bluesalve Partners are also here to help. If you need advice, or perspective let us know and we are happy to spend some time helping your effort. Give us a call, or click here to schedule a free half hour call to discuss anything affecting your business.
Robert Heiblim has more than 35 years of experience in the consumer electronics field encompassing all phases of general management, including management of new technology start-ups, and high growth companies. Along with his teams Mr. Heiblim has developed, marketed and sold hundreds of millions of devices through most global outlets for consumer technology. Robert is the current Chair of the Consumer Technology Association (CTA) Small Business Council as well as ex-officio Chair of the CTA Audio Board.
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