What does the new normal mean?
Once in a lifetime, something happen that changes not just the life of the people but their livelihood. What I mean by livelihood is by the way we live, whether is the way we relate with each other as a family or workers or as members of the community or business owners, but the way things are done fundamentally shifts. Not just for a few people but for the world at large.
Some of these things which usually have typically very good impact like the advent of technology and social media while others happen in a way that changes a lot more of our lifestyle but then there are occasionally things that are brought upon the world like what we are facing today which is the Covid-19 pandemic.
The last global pandemic was in 1918 which is about 102 years ago and so you realize just about a 102 years ago the Spanish flu actually wiped off 50 million people across the world when the population at that time was only about 2 billion people and today, we have a population of over 7.6 billion people.
What the Spanish flu did was that it changed the way people related to one another just like today.
With the advent of Covid-19 as we are seeing, is a global pandemic, it has come to change the way that things are done.
What Happens after the Lockdown?
At the lock down, we have what we call a stay at home but after the lockdown, for the interest of health and safety, we’re going to have safe at home. Social distancing is still going to continue even after the lockdown is over and today, people are going to be wearing mask, mask is going to become a part of our cultural dressing.
A lot of the way that we live, work, do business, interact, even the way we worship is literally going to change and lots of it are not going to return back to the way we knew it. So therefore, we are in the new era and we are going to have to learn how to thrive in this new era because we have a new normal.
So in this new normal, the people who master the act of getting things done quickly will be once who’s going to become the new champions because in every time God does a new thing, new champions always emerge.
I want you to know that in this time of difficulties, there’s a vacancy for new champions and that can be you reading this, but you have to prepare.
What are the Key Changes in business, Careers and Vocational Pursuit
In business, there’ll be 2 important changes that we’ll see. The first is, coming of this lockdown season, we’re going to see a decline in productivity and business activity which is likely to lead to an economic downtime and with economic downtime, a few things suffer.
The ability for business to operate, make profit is going to suffer. Therefore, several business may have shut down if they do not understand some of the things discussed below.
They’re going to be thinking how to cut down every unnecessary cost. So business operational efficiency is going to become one of the most important things.
Why is this important? Because as business have to cut down, they’re going to lay off and as they layoff, some of the employees especially those that’re not adding the most value, then they’ll be higher level of unemployment. With an increase in unemployment means that the people are not able to earn, they cannot buy and therefore, since they do not have purchasing power, it means that those people who typically produce what people will buy will also not have as much market to sell.
The businesses therefore are not able to sell as much as they use to. So the businesses and consumers are going to suffer.
The business that are going to continue must learn how to cut cost and at the same time, be adaptive and flexible enough to look for the places where they can grow.
Note for every business person
Cash is the life blood of business when cash seizes to flow into a business, the business will die. Therefore, you have to make sure that your primary objective as a business owner is to ensure cash flow. You are going to do what I call flowing with the cash. Some call it follow the money. You will be more loyal to your customer buying pasterns that you will be to your existing products. Meaning you should change your product if you have to do so but as long as you have the capacity you’ll be able to meet the needs of a customer that is ready to buy, then you may need to adapt and evolve to remain relevant because money will go after the people who are selling what people need to buy. In other words, Money will flow in the direction of the buyer.
You have to be more committed to the buyer than you are to your products. Ask yourself these 3 questions.
- Who are the people that are buying? In other words, who are the people who have cash to spend?
- What are they buying?
- How are they buying?
3 kinds of people that are buying
- You can be selling to direct users called consumers
- You could be selling to organizations and institutions i.e companies, institutions, etc
- You could be selling to the government.
In this era, it is what the customer want to buy that’s important and not what you want to sell.
You have to be customer-focused, you have to think like the buyer and not just think of what you have to sell.
When people have an abundant of cash you can convince them to buy what they don’t need. They can buy because they like you, they can buy as a gift to others but when there is a very little cash people are going to buy what they need. Your job as a business owner is to ask yourself what do customer need.
What businesses are after
We’ve noticed that with the lockdown, everything went online. Therefore, every business that will survive today and post-covid must be a business that have online capability.
That means we must have the ability to reach customers online, we must have the ability to convince them to do business with you online, you must have the ability to close transactions online and ability to deliver.
Any business that is not an e-business or doesn’t have the e(electronic) capability is likely to suffer greatly.
When businesses where thriving, they were asking their potential employees, “What do we gain by bringing you on board?” but it’s a different question in the time of economic decline, they ask “What do we lose by letting you go?“
What businesses are going to be looking for today is unique and relevant knowledge, Skills and attitude that adds value to the team.
Today we are in a new normal, many businesses are going to have to change the way they do business. Meaning they have to be ready to learn new ways and secure who have the relevant information.
Today, it is VALUE, who is creating value, who businesses can’t afford to let go.
What relevant skills? Every company now have one form of digital transformation. Meaning they have to be able to have Capability in terms of E-commerce, Digital marketting, Social media engangement.
As companies are laying off staff, the work that still need to be done are going to be done by the few people that are remaining. Gone are the days of Job description.
When there is a growth in the economy, we’re going to have construction. When there’s a decline in the economy, we don’t have new construction but Renovation and maintenance.
Construction is going to decline but they’ll now be an increase in selling of buildings and assets at a cheaper rate. Buyers will always want to Renovation and maintenance and professions like this can not be done remotely from home.
For those who need to do their work outside their homes, First and foremost, You have to be safe. If you’re working outside, do everything that is possible to keep yourself safe because if you’re not safe, you cannot be healthy, if you’re not healthy, you cannot work, if you can’t work you cannot earn. Your personal safety is so critical today.
But whenever you get an opportunity, please make sure the work of your hand is speaking for you. Thanks for reading and God bless.