Flexibility and creativity have become essential tools for businesses looking to ride out the pandemic, says Dominic Poynter of Axiory
If 2020 taught us anything, it’s that challenging times create a wealth of opportunities for those who are ready and open to embracing them. Twenty years ago, as the digital age dawned upon us, who would have thought that the human tendency towards social connection, collaboration, and access to digital information would help free us during a global crisis that confined us to our homes?
The general public went home and adapted to life during a global pandemic. But millions of companies across the globe faced sudden strict lockdowns, which reduced their brand exposure and built walls between them and their clients. Businesses, much like humans, are living entities that have to adapt. This has never been more evident than during the Covid-19 pandemic, which has forced companies to adapt, or face dire consequences.
Protecting the bottom-line
Many businesses were required, or more importantly, were inspired to think of creative solutions to overcome the challenges with minimal negative impact to their bottom-line. The most likely to survive and thrive were the ones who had already established a foundation that allowed them to rapidly adapt to what has now become the new normal: remote work, automated processes, online education, and collaborative platforms, all powered by technology.
For example, at Axiory our business continuity plan allowed us to integrate with new procedures and tackle the particular challenges of working remotely across our several international locations, without stopping any aspects of the business or affecting our traders. Even among companies that work solely online, such as forex brokers like us, the odds were in favour of those who had an internal contingency plan. We essentially leveraged our firm’s readiness to adapt to change.
Indeed, the pandemic may be here for a while longer, and is a real wake-up call for companies to recognise that failing to plan is planning to fail – especially in the most unexpected and unlikely situations.
In short, as a business, you have to be the fittest among adaptable companies to survive, let alone thrive.
About the author
Dominic Poynter is Marketing Director at Axiory.