Kagan: Business distancing will change the way we do business
Business distancing is like social distancing but has to do with the way we do business. This term has not been used much yet but will be going forward as we increasingly discuss the way COVID-19 will impact many different business sectors. When we all go back to work, we will notice the way we do business for so many of us will suddenly change. Let’s explore some of what we can expect going forward.
Wireless technology will be one of the key technologies that will help us stay connected now and through recovery. Yesterday, our phone was connected to a place. Today, we can be anywhere with smartphones, tablets, computers and more.
AT&T, Verizon, T-Mobile, Sprint, Xfinity, Spectrum, Altice keep us connected
Companies like AT&T, Verizon, T-Mobile, Sprint, Xfinity, Spectrum, Altice and so many other wireless providers are more important than ever.
Conferences are one big area we are not yet discussing. However, these conventions will simply not take place, at least over the next year or two. Then when they start up again, how will social distancing or business distancing impact these shows?
How can CES, the international Consumer Electronics Show possibly create six feet of space between attendees? They can’t. Walking the crowded aisles of the show or sitting in the giant audience side-by-side with tens of thousands of others.
Will CES 2021, MWC 21 and other conferences take place?
CES 2020 was held in early January, before anyone suspected coronavirus would ever be a problem. What about next January? That’s only nine months from now. We still may not yet have the vaccination yet.
Next February the international MWC in Barcelona. It was cancelled due to COVID-19 this year. What about next year? Mobile World Congress is the largest, international show in the wireless industry.
In fact, most conferences have been cancelled at least for the next several months. Some say they will reschedule for the fall and winter.
However, unless and until we have a vaccination, a preventative, we are all still at risk. Therefore, I think we will not see any conferences at least until we get COVID-19 under control.
COVID-19 will impact every company in every industry
This will impact so many companies, large and small, in so many different industries. Every industry has its own conferences. Business meetings as well will be impacted.
These are a very important way for industry leaders to mix and mingle, share ideas and drive their industry and their companies ahead. They are important to introduce their customers to their new products and services. They are important for smaller companies without as much name recognition to meet other players in the industry.
This need is still here. What will things change to let the same results happen? In the short-term, some meetings can move from personal travel and in-person attendance, to online participation. This won’t be as good, but it’s better than nothing.
And as we move forward, we will think of new ideas and new ways to move forward.
When restaurants re-open, tables will be spaced further apart reducing earnings
When restaurants reopen, they will do so under a new reality. They will have to space tables further apart. In fact, they may have fifty percent of the tables spaced farther apart. This means it will impact the earnings of every restaurant by that much in earnings as well.
This will impact the restaurants, their workers, their suppliers and so much more.
In fact, it’s the same with every other business as well. Think of movie theaters, Broadway shows, concerts and other businesses where people sit close together.
This is the same in offices. Desks will have to be moved further apart and fewer co-workers will be in the same room at the same time. Will this mean companies will move to a 24-hour schedule so they can spread workers around?
Workers in every industry will have to be spaced further apart
The reality of every business in every sector should be expected to go through enormous changes over the next year or two.
The good news is, over time we will get back to doing business. But for the short term, things will be difficult.
Some will go back to normal sooner than others. This process will take a few years to get back to normal, but we can still grow during that time.
The short-term massive and fundamental change in the way we conduct business is simply not sustainable. The good news is we won’t have to do this forever. Eventually, over several years, many businesses will slowly move back to a more normal state of doing business.
The bad news is this change wave will take several years. That means these changes will impact every industry in a variety of ways for years to come.
Some industries will do better than others through COVID-19
Let’s hope for a robust restart of the economy. In reality, some businesses will continue. Others will have to rebuild.
First, we must get through this health crisis and reopen the shutdown economy. Then we can move forward, one step at a time.
Hopefully we will end up better and stronger than ever. We just have to get there, one step at a time. Stay healthy!
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