hen the pandemic first struck, the initial impact was devastating for businesses, startups in particular. Fortunately enough, businesses, including new ones, have shown incredible resilience and countered the new world order with sheer determination. There have been organizations that perished, that managed to survive, and then there are some that thrived and came out stronger than ever. A huge chunk of the credit for that goes to the disruptive role of technology because it has single-handedly fuelled business transformation as demanded by the world of lockdowns and immobility.
When it comes to the new normal, there is no denying that it’s going to be a different world and the only way to stay secure is by realigning and adapting to what lies ahead. Here are some strategies that you can implement to realign your startup for the post-pandemic era.
Redefining your Objectives- Viability is the Key
Right now, viability should be your top priority as you make strategic decisions for the future. There is a need to understand your organization’s position in the business landscape. The factors include your current positioning, the competition you face, and the kind of products or services you offer. These factors would determine the fate of your company, the chances of being unchanged after the pandemic, and regaining lost ground in the new normal.
Things do not appear great in the post-pandemic scenario for some startups, particularly for the ones in the hospitality, travel, and events industries. At the same time, firms dealing in essentials are experiencing an acceleration in their growth as their value propositions are in demand. New businesses offering home delivery services, home office equipment, and internet-enabled collaboration tools, can expect booming growth ahead. The idea is to map your probable position and redefine the growth objectives for the time when the pandemic eases.
Creating a Recovery Plan- It’s All about Resilience
Whether you run a startup or an established business, a recovery plan is the need of the hour if you want to make it through the crisis. Once you have a clear understanding of the growth objectives of your venture, you will probably be in a better position in terms of creating a plan of action. Ideally, it should lay a path for what needs to be done today to attain your objectives tomorrow.
The recovery plan will act as a cushion for softening the blow of the post-pandemic situation, which is all the more valuable for a business that has just started. Not having one will only exacerbate disorientation in an already overwhelming situation. When you draw up the steps for the recovery plan, think broadly and take a long term perspective that focuses on survival and sustenance.
Bracing for Culture and Identity Change- Nothing is Same Now
The most crucial aspect for businesses that want to realign for the new normal is bracing for a change in their culture and identity. Essentially, organizations have been forced to make a massive cultural switch with the outbreak. The ones that had never let people work from home, for example, had to embrace a fully remote working model. While the switch was not a choice when the crisis first dawned, businesses now need to go ahead with proper planning.
It will be about the change in perspective ahead. A crisis may bring your people together and push a spirit of endurance. Conversely, it can push them apart and cause misunderstandings as they work remotely. Everything depends on the conscious efforts of the leaders to drive their team in the right direction and foster a culture of trust and collaboration. This is something you need to start working on the right so that your startup is already on track when things resume in the new normal.
Focusing on the New- Stay Alive and Kicking
Only the startups that focus on the new would be able to cross the startup stage and grow into progressive businesses in the future. The only way to do this is by staying alive and kicking through the pandemic era, which is possible with new projects to launch, run, and coordinate. The challenge at this stage is to prioritize and coordinate the initiatives that would keep the business afloat and growth-focused, while also future-proofing the organization.
Although it may sound tempting, having your hands full may not be the best thing at this stage. Beware of taking up numerous projects which depend significantly on the same critical resources. These could be specific individuals or teams, such as top managers or certain departments, such as your IT team. With too many new initiatives running together, you could encounter a war over resources.
Getting Ahead with Digital Transformation- Technology is the Saviour
The final and perhaps the most critical step for new businesses realigning for the post-pandemic era is preparedness for the new world, which is best handled with the digital transformation of your organization. The transition will demand considerable efforts, but every penny would be worthwhile for your company. Starting with the implementation of a project management software solution is a great idea as it can help you execute your plans and projects with seamless efficiency.
Consider the example of a construction startup struggling with the challenges of the pandemic. Things can be tough when the teams are back on the site for resuming work, with the need for social distancing, streamlined communication, safety measures for the teams, labor and resource management, and more. Going digital with construction management software can automate the tasks and address these challenges to a considerable extent.
Realigning your startup for the post-pandemic era should be your top priority right now, no matter what the size, scale, and domain of your business are. After the unprecedented impacts of the virus, it becomes important to be prepared for the worst. The companies that act on time will surely be able to bounce back in the future.
The new normal is going to be very different, and there is no denying that the only way startups can stay strong is by realigning for what lies ahead in the post-pandemic world. Being prepared with timely action and the right strategies at the right time is the best thing that you can do to gear up.
The author is a seasoned software developer and loves writing as well. Apart from his interest in coding, he devotes spare time for creating interesting articles on the latest in the world of technology.