Before the pandemic, companies that had previously avoided making difficult strategic choices were able to keep limping along. Covid-19 has forced businesses to make strategic choices that they previously had avoided. Some of them, like Brooks Brothers, could not adapt to rivals such as Ralph Lauren and Vineyard Vines. That and its dependence on physical stores, made its July 8 bankruptcy after 202 years less than surprising. If you want to grow faster during this pandemic, you must lead your business by keeping four fundamental truths in mind.
One of the etnernal truths of small business success is that customers are going to be afraid to buy from you because they figure you are at risk of running out of money and leaving them stranded.