Business Tip or Opinion of the Day

Business Tip / Opinion – Industry Changes – Jan 29 & 30/22

Changes to the Industry:  Many times throughout history, there are changes that go on in different industries.

During the past two years, as we have worked our way through the pandemic, changes have happened in order to keep up with things that are going on.

It has more or less been a forced change on many different industries; being an essential business, finding out your business was not considered an essential business, staff working from home, masks, mandates, etc.

As we grow and evolve, we find things out about ourselves and the businesses we operate. 

Sometimes, the changes are easy and actually quite fun, other times, it can be stressful and take time to make the necessary changes.

Some companies have thrived throughout this time and others have struggled.  Some of those business chose to thrive – if they wouldn’t have made some changes they would have been struggling as well.

One business that comes to mind in this is a local beer company chose to figure out how to make hand sanitizer and started producing that as well as their beer.  This option gave them more of an economic advantage during this time.  They saw a need in the area and fulfilled it and made a profit in the process. 

Some restaurants made the choice to focus on delivery and take out instead of closing their doors to continue to profit at a time when they had no choice but to close their doors to the public.

Some businesses went to an online version of themselves to continue to provide the services or products, which kept their clientele and allowed for a new client base.

They were willing to look at the possibilities, look outside the box and make some changes to create a better future for their company and their staff.

These are just some examples of what change can do.

Not all businesses could necessarily make those choices, I understand that.  However, I think about a saying that I have said for years – the only thing in life that is constant is change. 

Questions to Ponder:

During this time, have you been able to make the necessary changes to continue to profit?

Have you been able to think outside the box to create something new or different or just shift things a little?

What ideas do your staff have?  It is great to get their opinion as well – something great could come of it!

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