What started as a stress-free option during the pandemic has proven extremely beneficial.
Grow your business,
Not your inbox
Stay up to date and subscribe to our daily newsletter now!
5 min read
The opinions expressed by the entrepreneur's contributors are their own.
This is a very unique time to build a business. The stationary businesses are having problems and the local mom and pop shops are closing at record speed. However, online service providers like Netflix, Amazon, DoorDash and Zoom are seeing record growth.
What do all these growing companies have in common? They support the “stay at home” lifestyle and the “new normal” of remote work.
Entrepreneurs can learn from a developing world economy and the new normal of work. Here's what some companies did:
Restaurants admitted that they cannot replace the experience of dining in their establishments. But take-out meals, including cashless payments, allowed restaurateurs to have a new lifeline.
Online shopping has been around for quite some time. When the pandemic broke out, retailers embraced the new segment of customers – mall goers – to encourage them to buy. Online purchase and shipping options have made the transition easier for customers, and Amazon has made record profits.
Reduced spending on moviegoers has not prevented the entertainment industry from thriving. Businesses turned to streaming services for home entertainment. Theaters, on the other hand, were destroyed for obvious reasons.
Local tourism, virtual tours and flights, and cruises to nowhere have allowed travel enthusiasts to experience travel, albeit to a limited extent. Personally, I think this is an amazing time to travel (by car) because there aren't many!
Technology giants like Facebook and Twitter made it possible for their employees to work from home. Google has announced that its employees can "work flexibly".
What made some businesses thrive and shut others down permanently? You have adapted to the disorder through innovation and hard work. Entrepreneurs are made up of these two characteristics.
Related: It's time to get a virtual assistant. Here's why.
My own Covid adaptation
Like any business owner, I was very concerned when the lockdown was announced in March 2020. We have had several customers canceling the virtual assistance services we provided. Still, my business prospered. Since Covid, I've seen over 100% growth in our virtual assistant recruitment agency for entrepreneurs and startups around the world.
That's because building a “virtual team” sounded cool last year, but today it's a necessity for companies to weather today's economic conditions.
Yes, a virtual team is the "new normal" of work. It's time you hire one.
My secret weapon
My executive assistant Ysabelle, who is virtual, starts working for me an hour before I wake up. This arrangement works because the first thing I do when I wake up is remove my phone from the bedside table to check my messages. Now Ysabelle is going through my emails and deleting all the hundreds of messages that I shouldn't waste my time on. It leaves those who need my attention flagged as "unread".
Since I have over 100 employees on my team, she knows exactly who is responsible for certain processes in the company. So when I get an email that requires someone else to take action, Ysabelle sends the email to that team member and replies to the sender we took care of. The sender probably thinks I sent the reply – and that's the point.
You see, I didn't have to be in that conversation. With Ysabelle's help, I can focus on myself and the really important activities of the day.
Why did i share this with you I want you to understand that there is only so much you can do. The biggest lie is, "I was about to do something, but I was running out of time." It's just not true. You just don't want to be held accountable or you don't have adequate help so you need to prioritize what you and don't do each day.
Related: Why You Need a Virtual Office in 2021
If you are the only one in your company who knows everything, you will be a slave to your company. A colleague of mine once said, "If you don't have an assistant, you are." Think about it.
Remote work is no longer a thing of the past. I don't think it will go away. The current global crisis was a catalyst for the growing transition to a practically connected world. There is hardly anything in our business that cannot be done remotely unless you are physically doing something or building something. Entrepreneurs who can adapt and develop to the new “virtual workplace” and recognize its benefits can future-proof their business when the economy drifts away.