Key Questions About Today’s Business Environment

There are several key questions I keep hearing from my clients:

  • How will remote working impact us long term?

  • Is what I am experiencing in sales “normal”?

  • Should I take advantage and hire talent now while it is available?

Economy after coronavirus

In its most recent issue Inc. magazine surveyed its newest list of Inc. 5000 (fastest growing companies) and here is what they had to say

Remote Working: While 17% already worked virtually, 32% said that it will greatly increase employees’ ability to work from home with another 30% saying it will somewhat increase employees’ ability to work from home.

Sales Impact: Of course, this would vary tremendously by industry but overall:

  • 15% reported sales up over 25%
  • 17% saw gains of 10-25%
  • 8% saw increases of less than 10%
  • 17% reported flat sales
  • 7% saw sales decline less than 10%
  • 17% experienced loss of 10-25%
  • 19% (the biggest group) saw sales down more than 25%.

Hiring Talent: While 59% of companies cite difficulty finding and retaining good staff as a top obstacle to growth; 47% intend to take advantage of high unemployment rates to load up on talent. However, 33% say it is hard to find applicants with sufficient experience, 34% find culture fit to be a problem, 18% report not enough applicants while 7% think the higher unemployment makes it easier to find talent.

If you would like to hear a great case study written by someone who shares my philosophy, that NOW is a great time to rethink and clarify long-term goals and set your sights on new opportunities, then read this story written by Carey Smith, founder of Big Ass Fans, titled “The Gift of Catastrophe“.

If you would like to discuss how to apply some of that philosophy to your business, give me a call at 816-622-8843.

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