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Some Business Lessons to Learn from the COVID-19 Pandemic

For many businesses and private individuals alike, 2020 began as a year that seemed to hold an endless amount of potential.

Plans were made, business strategies were written out, start-ups were registered, and then the global COVID-19 pandemic struck with its associated lockdowns, and everything took a quick turn to a state of chaos and uncertainty.

Many businesses have had to close down as a result of the pandemic, and many individuals have found that the course of their professional lives has changed dramatically and in unexpected ways.

Nonetheless, there are some very significant business lessons that can be learned from the pandemic. Here are a few of those.

In the face of uncertainty, flexible digital workers have a real advantage

Prior to the pandemic, there was an active and long-standing debate in many industries about the extent to which new digital technologies and remote working culture should be embraced. Many companies were resistant to the idea of allowing for remote working situations for a variety of reasons.

What has become very apparent during the lockdowns, however, is the fact that in the face of this sort of global uncertainty, flexible digital workers have a real advantage – and companies that are able to focus their operations primarily online are far more robust than those with a primarily brick and mortar presence.

As the information networks that we are all connected to become increasingly sophisticated as time goes on, it seems that emphasising flexible digital work in your professional life might be the single best insurance policy against uncertainty.

Fortunately, there are plenty of informed commentators such as Deepak Agarwal who can provide high-quality insider tips on how to manage a digital business.

It’s crucially important to seize opportunities when they arise, instead of counting on the future

Another one of the core lessons that many people have become very aware of during the pandemic, is the simple fact that it’s crucially important to seize opportunities when they arise, instead of counting on things working out in the future.

Of course, any business will need to spend a good amount of time and energy focusing on long-term planning. But, as the saying goes, “make hay while the sun shines.”

If you are too slow to seize the initiative when it is possible to do so, you might find that the opportunity is entirely lost due to events beyond your control later on.

Opportunity can still be found in the midst of chaos and turmoil

While very many businesses have failed or been negatively impacted due to the pandemic lockdowns, many others have actually thrived during this difficult period.

Specifically, companies that were positioned to cater to the needs of individuals during lockdown – such as online grocery delivery companies – have tended to do very well for themselves.

There is an important lesson that can be taken from this: that opportunity can still be found even in the midst of chaos and turmoil. For that reason, it’s important to never become completely disheartened – but to look for ways of turning otherwise undesirable situations to your advantage.


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BIZCATALYST 360°
BIZCATALYST 360°https://www.bizcatalyst360.com/about/
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