As we begin to look ahead with positivity, there is a growing sense in the business community around the country that a new wave of business and financial innovation is on the horizon. People are seeking new opportunities, the economy will hopefully rebound, and many individuals are looking to take advantage of these conditions with their own entrepreneurial efforts. It’s exciting, but consider this fascinating question: What does a business need to focus on in the aftermath of COVID-19?
There are certainly a few features and priorities that we suggest your business focus on. Here are four of them:
It’s becoming clear that cybersecurity and data integrity are even more important nationwide in the aftermath of COVID. An ongoing desire for caution is leading businesses to prioritize remote, digital activity. So, even brand-new businesses may operate primarily in digital form (which will require strong security!)
As an industry-leading cybersecurity solution, NXTsoft's ThreatAdvice services and solutions are a perfect fit for small- and mid-sized businesses across the Southeast. In addition to stronger cyber practices, industries must also focus on specific threats to their data security:
Banks and credit unions, are your disparate loan origination software seamlessly and securely integrated? You must connect your data securely – don’t leave your integrations to chance. Provide a secure and seamless connection. This is no less serious with the post-COVID business environment. In fact, with many consumers conducting more business online, you should also make sure that your mobile app and website provide a good user experience.
Hospitals and healthcare providers, are you aware of the cybersecurity threat to you right now? The FBI, DHS and HHS have given a recent warning that ransomware affiliated with Russia (Ryuk) is thought to be an imminent threat. Cyber gangs and hackers pose a threat to your data, and healthcare suffers 3X more cyber-attacks then even the financial industry does. Don’t leave this to chance; it is critical to implement cyber-protocols.
Safe Working Arrangements
If your business is in-person (as opposed to online), consumers around the U.S. will be looking for businesses to provide a safe and clean experience, post-COVID. Predictions for the post-COVID workplace vary, but overall include a fair amount of optimism. There’s an opinion that offices will be redesigned and kept clean in new and reassuring ways. It will remain important to focus on making shopping and working arrangements as safe and comfortable as possible.
Flexibility & Emergency Preparedness
Businesses who have an in-depth plan for crisis flexibility and emergency preparedness will be stronger than those that don’t. Go ahead and think through a plan for any future, sudden interruptions of business, or of supply chains. Set up and contribute to an emergency fund. Make sure to consider future possibilities, even as we return to normal.
Understanding of Consumer Needs
Every successful business is designed to cater to customers’ needs. Therefore, this should be a business goal regardless of the times. But, as we look to emerge from COVID, it will be particularly important to anticipate and respond to consumer needs related to present conditions. Be sure to consider specific concerns that might be relevant to your business and target market.