We’ve been in lockdown now for almost a month.
Although the Government have tried to dampen down talk of exit plans, attention is moving to how measures might be relaxed in due course and how we might return to more normal conditions, or perhaps a ‘new normal’.
The consensus seems to be that at least in the short term, social distancing measures will still apply until a vaccine or another scientific solution minimises the risk of the virus growth accelerating again.
The most likely sequence for an emergence from lockdown, according to Buzzfeed, seems to be allowing some non-essential shops and industries to open, followed by a relaxation in some social distancing measures and in due course, re-opening pubs and restaurants. Permitting larger public gatherings and events and opening up travel are likely to be further down the track.
This sequence is still speculative but it does align with measures to relax lockdown seen in some other European countries and the Buzzfeed article has been picked up and reported on by mainstream media.
This sequence is still speculative but it does align with measures to relax lockdown seen in some other European countries and the Buzzfeed article has been picked up and reported on by mainstream media.
There is still great uncertainty over the timing and it makes planning difficult for businesses.
But plan we must.
The focus for some businesses has been surviving lockdown. Gaining access to the Government financial support, speaking to their banks, customers and suppliers. This remains the focus for many with essential funding not yet in place to ensure their survival over the next few weeks.
Before too long the focus needs to shift to emerging from lockdown.
What will this look like in your sector? Some sectors will be permanently changed. Some will have a very gradual return to more normal conditions. There are scenarios we need to plan for and adapt our businesses to the new reality.
What will this look like in your sector? Some sectors will be permanently changed. Some will have a very gradual return to more normal conditions. There are scenarios we need to plan for and adapt our businesses to the new reality.
One of the buzzwords at the moment is ‘pivot’. In other words, changing your business offering and business model to suit the new conditions. Pubs and restaurants doing takeaway and delivery services, events companies moving on-line, football teams playing in empty stadiums.
Pivoting is a technique widely used in start up businesses.
If their initial start up offering is not taking off the entrepreneurs will pivot their offering to make it more attractive and relevant to customers. Often these pivots are very radical and involve a complete rethink of the business, starting with the customer and how the assets and resources of the company can best be deployed to meet their needs.
One of the most unusual and counter-intuitive pivots I read about recently was a former events company which is now manufacturing and distributing its own brand of gin.
If their initial start up offering is not taking off the entrepreneurs will pivot their offering to make it more attractive and relevant to customers. Often these pivots are very radical and involve a complete rethink of the business, starting with the customer and how the assets and resources of the company can best be deployed to meet their needs.
One of the most unusual and counter-intuitive pivots I read about recently was a former events company which is now manufacturing and distributing its own brand of gin.
Most of us will not be doing anything as radical as moving into the gin business but we may need to think about making some significant changes to adapt to the new environment.
Will our sector return to a ‘pre-Covid’ situation when we come out the other side or will it be permanently changed?
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