Changing Business Strategy in 2021. Yay or Nay

By: Nicole Vergara

The year 2020 could be the worst year of the decade, especially for businesses. Due to the restrictions in traveling and going out, some businesses are laying off employees, closing down, and even filing bankruptcy.

According to The Washington Post, U.S. now has 22 million unemployed, wiping out a decade of job gains. This struggle is not only true to businesses, the impact can also be felt by individuals as COVID-19 has greatly bruised the economy in 2020. 

The year has not just been a test of resilience but also a test of innovation. Transportations were limited and offices were temporarily closed to observe social distancing. This pushed more employers to take their medium of communication online. 

Although the impact of COVID-19 is a big blow to businesses, some thrive at this point. So, how do they do it? 

According to Jay Fulcher, CEO, and chairman at Zenefits, these startups thrive because of three reasons.

First, Compassionate leadership, and second, Innovation: Finding Opportunity in Crisis and heads in the cloud. Even with the convenience of working with Cloud and taking tasks online, it may be an overwhelming load for some, especially when the circumstances push businesses to have a giant leap with their business strategies.

And third many entrepreneurs considered seeking help by outsourcing Virtual Assistants. Virtual assistants in the Philippines help business owners manage their time better by giving a hand on a variety of tasks. This way, business owners may have more time strategizing and managing more value-generating processes. 

With the trouble the world faced, mental and physical resilience were challenged, entities were shaken and opportunities were seen. Innovation is no longer just an option and competence is a must; otherwise the weak may be left out. 

With the hopes of the world healing again, may corporate weaknesses heal as well.

This could be the perfect time to hire a virtual assistant.

Sources:

https://about.crunchbase.com/blog/stars-in-a-stormy-sky-startups-thriving-during-covid-19

/https://www.washingtonpost.com/business/2020/04/16/unemployment-claims-coronavirus/

https://gbievents.com/blog/6-big-startup-winners-during-covid-19-outbreak