Building Business Resilience EXPAND ONLINE PRESENCE • Increase functionality of digital storefronts. This not only increases the ability for continuation of sales and revenue streams in the event of mandated shutdowns, but it also caters to the evolving purchase behaviors of consumers who have become accustomed to online shopping. Investments made in this area will likely continue to pay off post-pandemic. • Add communication methods. With more businesses moving to partial or all-virtual environments, alternative contact methods— whether email, chat or through social media—allow for customers to communicate with businesses online, particularly as physical locations are closed with phone lines left unattended. • Add virtual components. Look for opportunities to create online aspects and experiences, such as yoga studios and concert venues transforming their in-person events to livestream experiences and museums and attractions offering virtual tours and supplemental activities to enjoy at home. your company, what immediate changes would they make? What efficiencies would they discover? Where would they cut unnecessary costs? And how would they streamline your process for the most revenue and least expenditure? Their approach might not be the right approach for your business, but sometimes it takes brainstorming with a competitive approach to reveal effective solutions. • Be open to new ideas. Encourage team members— regardless of hierarchy or department—to share ideas and solutions. Set up a survey link or a dedicated email address for submissions, and be open to expanding or refining solutions as they come GET CREATIVE • Think like your competitor. Brainstorm with a competitive mindset. For example, if Amazon were to take over Working & learning from the comfort of your ideal home ... Brought to you by ... Marquesa Hobbs, Realtor® CNE 719.238.0330 | mhobbs@erashields.com | coloradohearthstone.com 11
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