The visionary leader of the pack. Ingenious Cleaning Expert. Ever curious and always on the go.
Post covid inspirations.
Post covid, The big winner/survivors will be companies that can deliver unbeatable value to their customers
Value means cheaper better faster or more convenient. It does not mean better customer service or frills
Much of the value will come from a huge price war giving incredible bang for the buck
How to gear up efficiency and reduce BOM costs so we can make money selling for much less? This becomes important.
Revenues will drop for all companies but also headcount and associated costs (eg rentals), so lower selling prices still can survive
Companies will become more agile and cut layers of corporate fat and many middle management/clerical type jobs will lose jobs to agile management or robotic process automation.
Companies will look for new ways of lowering order processing costs. Aka do we need the highly paid sales teams with fat expense accounts
Cash (as opposed to credit terms) will be new requirement. So customers expect much more for their precious cash
However, can always redefine who is the customer / sector / products. Sell to the world, there is so much more biz to eat from dinosaur compeititors. And find new dinosaurs competitors to eat their lunch from
But beware the competition from outside your sector who thinks your crumbs are juicy steaks
Remember post covid, while retrenchment will be 15-20%. The buildings, hotels, offices will still be there and people still need to eat/drink/clean/live etc
So decide to live, we can even thrive. But how much value will we give our customers?
Your company’s fate lies in your hands and nobody else.
@2020 Entrepreneurs' Organization Singapore