Business owners typically review business plans at regular intervals. But with 2020-2021’s COVID-related lost revenue, supply chain problems, and the rising use of remote workers, companies may find their business plans have completely gotten off track. After this tumultuous time, you may find that your post-pandemic business differs significantly from previous plans.
Permanent Changes and Your Post-Pandemic Business Plan
Many government restrictions and lockdowns were temporary – long-term, but still with an end in sight. Because of this, the way we do business changed dramatically and, in some cases, permanently.
Business plans after COVID may need a complete overhaul. At the very least, you may see major changes in the following areas.
Markets and Customers
You might start your revised plan by researching your market. You may find that post-pandemic markets have contracted because customers have different wants and needs than before COVID. But you might also find that new markets have opened up. For example, tech companies that identify new consumer needs may develop new products or adapt old products to meet those needs.
It’s also essential to uncover new threats to your business. Have any of your competitors made changes that could take part of your customer base? Are you vulnerable to new competitors? If so, your post-pandemic business plan can address these new issues.
Sales and Service
Consumers dramatically changed their buying habits during the pandemic. Does your current plan acknowledge and address that shift?
Your post-pandemic business plan might include making online buying easier because people overwhelmingly feel more comfortable buying through digital sources now. Assess your online ordering systems. Are they easy to navigate? Also, are customers finding you online before they find your competitors? Review your IT plans to make sure you can meet increased digital opportunities.
Operations and Staff
The first concern could relate to safety. You may need to continue COVID-19 workplace precautions for a while to protect both employees and customers. So, your post-pandemic business plan may include provisions related to COVID-19 procedures.
Vaccinations may become an issue also. Clients that still require in-person visits may require proof that your staff have been vaccinated, but are you allowed to require that your employees be vaccinated? That’s a thorny legal problem that is still being worked out. Your post-pandemic business plan might need to find ways to work around this issue.
If your operations do become more digital – both with online sales and remote workers – do you still need as many brick-and-mortar facilities? You might need to focus more on digital solutions and less on buildings.
As for staffing, your revised business plan may involve increasing employees in one area while decreasing staffing in others. You might need more IT staff but fewer in-house salespersons. As always, making sure you have the right staff in the right places can affect your bottom line. It’s certainly an area that might be changed in your post-pandemic business plan.
About the Author
Attorney Richard Sierra at the Florida Small Business Center assists clients like you with business and litigation matters. As always, Our Goal Is to Help You Succeed™. For an appointment, you may call us at 1-866-842-5202 or use the contact form on our website. We represent clients throughout the State of Florida, including Coral Springs, Coconut Creek, Boca Raton, Delray Beach, Pompano Beach, Sunrise, Fort Lauderdale, Miami, West Palm Beach, Jupiter, Deerfield Beach, Stuart, Port St. Lucie, Orlando, Naples, Fort Myers, Sarasota, Tampa, and surrounding communities.