4 questions about your B2B business model to deal with COVID-19.
Posted: Tue Dec 03, 2024 8:46 am
A proposal of the key points to consider when evaluating and adjusting your business model to the current situation and identifying possible opportunities.
4 questions about your B2B business model to deal with COVID-19.
The social and economic crisis caused by COVID-19 has shaken the market and affected a large number of organizations.
As Xavier Marcet indicated a few weeks ago in a webinar on business management, in times of crisis the impact may be especially critical in those organizations that do not have solid business leadership capable of guiding not only their business purpose and vision, but also of generating commitment and collaboration dynamics that are agile algeria whatsapp number data 5 million enough to articulate creative responses to a situation as complex as the current one.
Xavier M. recalled a quote from Peter D. Drucker who, in the 1980s, already referring to the 1973 oil crisis, indicated that those organizations that are able to quickly read the new reality and accept the new conditions that their business faces will be in the best position to emerge from the crisis in which they find themselves immersed.
In this sense, the response to COVID-19 should revolve around three axes:
People: Activating the necessary measures to ensure the health and safety of the people who are part of the organization
The Treasury: Having the necessary financial resources to deal with an exceptional situation with high uncertainty.
The Customer: The market is no longer what it was in the months before the pandemic, and all assumptions about customers and the sales cycle are beginning to shake.
Let's focus on this last point: The customer and the business model of a B2B company.
Given that today's world is no longer the same as it was 60 days ago, and will likely continue to "mutate" in the coming months, it is more necessary than ever to reflect on how the market is changing and how a B2B business must adapt to survive.
So, as a B2B company, what questions do I need to address to identify the risks and opportunities of my business model in the face of COVID-19?
What does my client feel, think, hear, see and do? Not only will it be necessary to analyse the situation of the current client portfolio and the changes that are being made, but it will also be necessary to observe whether there are new clients with new needs that we can meet.
What is our value proposition and how has it been affected? After observing and listening to the customer, it is necessary to review what we sell and whether our offering is capable of continuing to solve customer problems post-Covid-19.
How do we get our offer to the market? The health crisis has closed the traditional channels for getting our offer to the customer: meetings, fairs, congresses... It is necessary to review the channels used until now and identify those that will allow us to reach customers.
What resources will we need? The pandemic will put the company's capabilities and resources to the test. It will be necessary to identify those that need to be reviewed and those that need to be strengthened to continue creating value for customers.
Addressing these questions should not only allow you to evaluate and adjust your business model to the current situation, but should also be stimulating enough to trigger new opportunities.
4 questions about your B2B business model to deal with COVID-19.
The social and economic crisis caused by COVID-19 has shaken the market and affected a large number of organizations.
As Xavier Marcet indicated a few weeks ago in a webinar on business management, in times of crisis the impact may be especially critical in those organizations that do not have solid business leadership capable of guiding not only their business purpose and vision, but also of generating commitment and collaboration dynamics that are agile algeria whatsapp number data 5 million enough to articulate creative responses to a situation as complex as the current one.
Xavier M. recalled a quote from Peter D. Drucker who, in the 1980s, already referring to the 1973 oil crisis, indicated that those organizations that are able to quickly read the new reality and accept the new conditions that their business faces will be in the best position to emerge from the crisis in which they find themselves immersed.
In this sense, the response to COVID-19 should revolve around three axes:
People: Activating the necessary measures to ensure the health and safety of the people who are part of the organization
The Treasury: Having the necessary financial resources to deal with an exceptional situation with high uncertainty.
The Customer: The market is no longer what it was in the months before the pandemic, and all assumptions about customers and the sales cycle are beginning to shake.
Let's focus on this last point: The customer and the business model of a B2B company.
Given that today's world is no longer the same as it was 60 days ago, and will likely continue to "mutate" in the coming months, it is more necessary than ever to reflect on how the market is changing and how a B2B business must adapt to survive.
So, as a B2B company, what questions do I need to address to identify the risks and opportunities of my business model in the face of COVID-19?
What does my client feel, think, hear, see and do? Not only will it be necessary to analyse the situation of the current client portfolio and the changes that are being made, but it will also be necessary to observe whether there are new clients with new needs that we can meet.
What is our value proposition and how has it been affected? After observing and listening to the customer, it is necessary to review what we sell and whether our offering is capable of continuing to solve customer problems post-Covid-19.
How do we get our offer to the market? The health crisis has closed the traditional channels for getting our offer to the customer: meetings, fairs, congresses... It is necessary to review the channels used until now and identify those that will allow us to reach customers.
What resources will we need? The pandemic will put the company's capabilities and resources to the test. It will be necessary to identify those that need to be reviewed and those that need to be strengthened to continue creating value for customers.
Addressing these questions should not only allow you to evaluate and adjust your business model to the current situation, but should also be stimulating enough to trigger new opportunities.