We are living in unprecedented times, with many of the countries around the world having called for national lockdowns due to the COVID-19 epidemic. The impact on the global economy is being felt by citizens and business alike, with small and medium entrepreneurs being some of the hardest hit.
“Staying home” may be inconvenient, however, economies (unlike loss of life) can be rebuilt.
Entrepreneurs can use this time to revamp their businesses, future-roofing them for life post COVID-19.

  • Review

I know, we have only just finished Quarter 1. This is not typically the time you would review your entire business model, however, you cannot afford not to. The COVID- 19 epidemics has expedited what was already taking place is large economies such as the USA and China, 4IR (4th Industrial Revolution). Entrepreneurs will need to move towards digitalisation in order to stay relevant and competitive in the global market. This is the time to review what has worked so far, what needs to change and how they can best serve their current and potential clients going forward. It cannot
be business as usual.

  • Reinvent

Once you have reviewed and confirmed what will add value to your business, innovation is your next critical step. Think out of the box to determine where your business is going next. Your business was once an incubated idea so don’t shy away from going back to the incubation process to modify your idea and create new ideas, ensuring that you meet the needs of your current and future clients. Innovation and reinvention are paramount to longevity in business.

  • Redefine

What is your brand positioning (who are you now?) and what is your value
proposition (what do you have to offer?) and who is your target market? With reinvention, you will find that some, if not all, of these three things, will change. With change, comes the opportunity to redefine for yourself and to the world, the need(s) that your business meets, what problem(s) you solve and how you solve it.


  • Refine

Processes and systems create efficiency in your business. As soon as you have established all the required changes, create the efficiencies that will deliver a seamless experience for you, your staff, suppliers and clients. Search for and test systems and processes that will work best for your business, use technology to enhance your organization. Right now is an opportune time to do trial runs on any new components that you wish to add as you will have the time and room for error and correction, by the time you go “live”, many of the potential problems will have been identified and resolved.

You know, every once in a while, the world changes and gives us all an invitation to come along, I besiege you to accept this invitation of change.

Princess Mashamahite
Executive Director: TAELO Executive Virtual Assistance

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