What kind of company are you? Which opportunities arise to your workforce and business?
How to take action to stay and become relevant in the current market?
As a business owner, I see that companies constantly fight to differentiate one from each other. Every company faces low, mid and urgent challenges. Sometimes these challenges are not approached in the right way because of the lack of skills, manpower or priority. But now, these challenges aren’t being tackled because of the period we are living in.
Uncertainty is a natural state that causes anxiety and fear. Probably, you are waking up in the middle of the night with all the feelings and questioning yourself many things. But, according to Jonathan Fields, it is actually a good thing. If you feel it, your efforts are likely to succeed.
During these times, we are facing risk in our business, income and even friends or family members. Also, businesses are facing exposure to judgement. This means that we are afraid of how people or the market itself will judge our business actions. But it’s on us, how we decide to push our businesses forward to get them to the learning and growth zone.
5 ways to become and stay relevant in the current market
1. Communicate and embrace joy with your teams
When managing teams, communication is always a priority and it is even more a priority when your teams are working remotely. It needs to be magnified between team members and managers. Employees are starting to get used to working remotely after the past weeks. They are having the first recognition of a well-done job but still want to interact in a way they did it at the workplace. Try to find ways to mimic their needs. For example, virtual lunches, coffee breaks and VrijMiB- games like bingo, quizzes and competitions.
If you make communication a priority, the focus, engagement and motivation of your employees will rise. This will affect the business in two ways. First, employees will work at their fullest capacity and any chance of accessing creativity will be optimal. Secondly, a highly engaged employee will consciously or unconsciously, let others know about it and effectively spread positivity between colleagues.
To stimulate this, embrace joy in the remote workplace and have fun in the same way as you normally have at the workplace. For example, Houseparty, for virtual hangouts and play games, UNO!, or even the Famous Mario Kart Tour is available for free on the App Store and Google Play. In this way, business leaders will keep supporting creativity, innovation and motivation with your teams.
2. Identify your challenges
As we mentioned before in our previous blog “How COVID-19 creates opportunities for organisations“, new ideas or ways to help our society through this period are already implemented. But, now we need to focus on our business challenges. How are startups, small- and medium-enterprises identifying and facing approaching them?
You are probably implementing new ways to ensure that consumers are aware of your brand, actions and can re-call your products or services. It’s time to re-think important touchpoints to take action to find solutions and new ways to become and stay relevant in the current market.
It’s time to prepare our businesses to flourish again. At some point, the situation will start to improve, and the current measures will be softened. So it’s time to change, find opportunities, solutions and take action.
3. Learn to recognize opportunities
Business owners recognize and seize opportunities where others see challenges. So then again, what kind of company are you? Create opportunities before they knock at your door, find new ways to be relevant and last but not least: take the mindset to start flourishing again.
Embrace what the market is currently offering to you, which can bring in new insights, solutions and innovation to your company. In this way, undiscovered opportunities will help you to get in the learning and growth-zone.
To give an example, we want to share some companies and clients that recognized their opportunities and asked us to contribute to this with our BLACKBEAR®-platform:
- Travel Diaries recognized their impactful opportunity on how to connect the elderly to their children and grand-children and let our Young Talents create solutions to this;
- TMC Bedrijfskleding saw opportunities on how to make their clothing production useful in these times and also let our Young Talents create solutions to this.
Furthermore, our clients like Tamoil and Euro-Caps, are also putting extra effort in creating their opportunities. They do this by finding solutions to urgent challenges which empowers their organisation.
4. Take action
Your business is your brand. Eventually, the measures will be softened, so we need to be prepared for the period after this situation: how does your businesses take action if society starts running again? where can you find your opportunities? and how do you execute them? It’s time to take action right away, on how your business will stay and become relevant from now on.
Build relationships and mutual benefits with stakeholders or potential stakeholders. It’s time to enhance the structures within the company and to propose your new opportunities to clients. Don’t forget that trust will be a huge part of it, so treat your clients and customers the way they want to be treated.
5. Value the present time and use it wisely
Google defines time as: “the indefinite continued progress of existence and events in the past, present and future regarded as a whole”. Time is non-renewable, and once it’s used it never comes back. It all starts with properly utilising your time. Manage your time wisely where opportunities that you can find today, can flourish into success tomorrow. Plan your days, weeks and set new objectives and goals. This will stimulate you and your teams to be highly effective and efficient while letting in more joy into your work and daily life.
In the past weeks, the whole market adapted rapidly to a new way of work with new routines. I believe that is just amazing and shows the true capability to adapt to any circumstances. As BLACKBEAR®, we want to play our part by keeping your business relevant in the current market. Let’s find your opportunities and solutions, where we’re ready to empower you and your business. Connect with our team right away.