The global pandemic influences the global market, but how do we right ourselves?
The Pandemic has changed everything about how we live – including how we do business. What new strategies should we be adapting to compensate for this global shift in the world market? Business executive and strategist Pat Mazza share his thoughts on what we do now to secure the future.
Pat Mazza and Where Businesses Go from Here
Once atop Microsoft and Google executive for more than a decade, business guru Pat Mazza has some exciting ideas about how we ought to respond to Covid-19. There is a growing realization that things cannot continue as they used to all over the world. As ever, it’s survival of the fittest out there… the only difference is that now we can substitute the word ‘fittest’ for the world ‘agile.’
Businesses have to evolve to adapt and overcome the current limitations of the marketplace. It’s common sense that we meet every challenge and expand to overcome it. This challenge is more significant than most, but that doesn’t mean the rules have changed. Businesses need to see the changes in their sectors and rise to the demand.
How? Pat Mazza has a few thoughts on how to increase corporate versatility in our time of need.
How can Businesses Adapt to WFH and an Evolving Marketplace?
While the world around us is changing, it isn’t over. Clients still need services, and customers always want products. It is the delivery method that needs to change. We need to start thinking outside of the box to accommodate.
Go Online
If you have a product to deliver, the sensible answer is to move your store online. If possible, cut out the building altogether and move away from bricks and mortar. It’s an expensive overhead that you may not need anymore. A clothing store, for example, is never going to be what it was. We aren’t going to go back to trying on clothes before you buy them, so you might as well whip the whole thing online.
The Service Sector
This is where you will experience real issues. Restaurants and hairdressers – two businesses we thought we would always need – are now the two types most vulnerable to transmission. How do we get around that? We can make dining at home a preferred experience, introduce outdoor dining bubbles and open-air meals. For hairdressers, we need a new PPE. We need everyone to be protected at this crucial time.
New Investors
For all your investors out there wondering where to put your money, anything online is a safe bet. At the moment, the online meeting and WFH software systems are the obvious choices. However, loungewear, home deliveries, and online courses have all shot up in worth.
A side note on education because the entire industry is about to change. The old universities don’t hold any weight when you have to do all of your studying over the internet anyway. You might as well do a creative writing course for £20 on Udemy instead of paying £850 for an Oxford English Lit course. That particular playing field has just been leveled, so it will be interesting to see where the significant educators go from here.
Follow Pat Mazza for more.
These are just a few of Pat’s hot takes on the business world at the start of 2021. Follow him on Instagram for more.