The dust hasn’t completely settled. Yet we can’t wait any longer to revitalize our revenue. We’ve observed three types of business conditions in today’s pandemic economy.
- For some businesses, new opportunity has immediately emerged.
The new needs of businesses and consumers have aligned with these companies’ core product lines, and lifted their demand. An obvious example would be Zoom. But more broadly, remote communication technologies, safety equipment, and home delivery, to name a few.
These companies are struggling to ramp up their capacity, supply chain issues, scalability and unique staffing challenges (at least until the last 4 months).
- For other businesses, significant revenue degradation. They are struggling to survive.
Obviously public event businesses, restaurants, bars and gyms have the biggest visibility in this camp, but they are not alone. Many businesses are making terribly difficult decisions to find a survival path.
- The vast majority, are seeing a small to moderate downward impact on business, with tremendous uncertainty AND OPPORTUNITY.
If you supply operational products or services, the immediate impact may be only minor. However, bigger and longer-term projects may be on hold impacting larger revenue bumps and new customer acquisition. 2020 growth projections are at risk or worse. Yet, many companies may be one innovation or one restructuring away from capturing great opportunity in the face of dramatic change.
Collectively, they are all looking to manage or drive accelerated revenue growth. Here’s four steps to help you “Fast Track Your Revenue Engine”: