It has been a while since my last article on business insights. This article will talk about Covid-19 induced strategic insights as we navigate 2021.

 

2021 opening gave me cool chills on my spine whenever i imagined all the possible new things I could introduce into the business to add value to my clients. Business outlook seemed busy and lucrative such that my entrepreneurial gusto felt like the year would be a moon walk on to the red carpet.

In the midst of the gusto hot coals were dropped on the economy when the government opened Pandora box and SI 10 of 2021 came to reality. My bullish ego was suddenly lost as a second wave of lock downs came to reality and i knew such necessary government policies were going to affect my annual plans and several client meetings.

I have written this article to share with my fellow entrepreneurs on the possible outcomes of this second wave of lockdowns on businesses in general. Below are my opinions that you can reflect on to spruce up your business strategy.

Strategy should now change from a strategy book in your closet to cards played close to your chest every bit of your business move;

• There is a high chance that the government will create a compulsory burden of Covid-19 tests on any employees returning to work if there is any chance of opening the economy in 2021.
• Business will see a rise in Covid-19 induced expenses with expense composition likely to shift from ordinary sanitizers, gloves and masks to include frequent fumigation & employee testing & testing kits. We can not even start talking about critical staff quarantine induced costs.
• Probably it’s time to start procuring some of the aforementioned utilities before prices spike or stocking them if you are more of a seller than a buyer.
• Recently we have all seen the reduced traffic on our streets and roads leading into town and this is an indication that CBD infrastructure has always been under pressure.
• I foresee local authorities starting to invest in shopping malls and public infrastructure outside the CBD zone. Watch the space!!!
• The aforesaid will simply mean reduced customer traffic to brick and mortar retail businesses in the CBD resulting in lower foot fall and basket sizes.
• Owners of CBD retail space should start diversifying towards e-commerce delivery channels or expanding towards residential area focused markets such as Westgate, Semi-levy, Marimba Belvedere or N Richards area along Bulawayo road to mention a few, depending on your city, town, customer type, pricing, product or service and logistical leverage.
• I forecast that building occupancy rates within the CBD will fall and businesses will shift towards residential space currently being converted to business hubs. Check out the mushroom of offices in Avondale, Milton park ,Belvedere or even Borrowdale.
• In Harare the government has also lately made moves to expand the town towards Mt Hampden and a new parliament project is being done outside the CBD including a new ZIMRA HQ that is planned for Mt Pleasant.
• We are approaching an era of CBD dispersion and virtual business transacting.
• Start investing and incorporating virtual offices, board rooms, sales or project pitches or employment interviews in your business models to mention a few.
• Covid-19 has created an accelerated shift from physical business to virtual business whether its banking, media, consumer goods, manufacturing or luxuries.
• The diseases is here to stay and with its new variants becoming more lethal than previous versions, bits of virtual based business activities are slowly turning into habits and the new normal.
• I liked how corporates hosted virtual business awards, events and cocktails towards the close of 2020.This is a sign of embracing business change.

There are many things that will surprise us as time unfolds into 2021 but the bottom line is that revenue needs to flow in our businesses. Below I have summarized what I think should be top rudimental priority sales initiatives for the Covid-19 challenged entrepreneur.

1. This is the time to retain market share and focus on your old clients & relationships by all means.
2. Bring your business closer to home. Let your neighbors, family and friends and community know what you sale or do for a living.
3. Search for new sales opportunities in niches less disrupted by Covid-19 lock downs. Target customers in essential services. These niches are still liquid.
4. This is the time to take the product or service to your customer door step provided you have the logistical means to do that.
5. Rigorously search for bulk order clients to improve cash flow and reduce logistical costs. For example, if you are a mechanic and there is no traffic at your garage, start competing for tenders to service corporates or institutions as this has nothing to do with traffic at your old garage.
6. Start working on e-commerce and online sales delivery models.
7. Develop remote multiple payment platforms for your clients or customers.
8. Invest in seamless internet connectivity at home or mobile connectivity for example a Telone or ZOL mobile Wi-Fi router would be a life saver.
9. Invest in back up power such as an inexpensive solar system at home to improve business operations.
10. Work on social media sales drivers as they are the future.
11. Start building your virtual brand image.
12. Employ social media tactics that will keep your customers busy. A good example is how Mambos Chicken promotes its brand through social media. I haven’t forgotten about their tasty chicken because of their social media mantra even though it’s been months before eating that “Huku”.

I hope this article will help you guys to rethink your business strategy. In God we trust. Get in touch with me on 0718 080 008 or on www.shaphat.com if you need help to set up your own business in Zimbabwe or South Africa. Please note that i write in my own capacity. These are my opinions and not a regurgitation of facts.