TIME TO ACT
Recovery is slowly coming. COVID-19 remains an extended influence on both our personal and business lives. The longer it lasts the greater its ultimate influence. Thus, rather than be overly concerned with what will happen when this pandemic is behind us, we might do better to concentrate on current practices…Three impactful factors:
The single most obvious factor is our experience in working from home (WFH). Regardless of when a vaccine is developed WHF will continue. A reported one third of workforce will, ultimately, work remotely. The ramifications of this happening extend into a variety of fields: communications, office design, and transportation, to name but a few.
The second major impact is retail purchasing where a shakeup has already occurred. For example, business-oriented facilities are taking on new forms – malls and shopping centers are disappearing, being replaced by warehouses and delivery services. Old-line restaurants will be replaced by a variety of food dispensing substitutes.
A third significant impact is technology. We are in an evolving technical era. Technology historically grows in spurts that are fueled by factors of need. Three examples: WWII produced major advances in aircraft design; robotics continue to replace menial tasks; and the current virus has propelled drug-related research.
Please click here to check out my website’s MOVING FORWARD page for suggestions on where and how to diversify to take advantage of this period of change.