Everything in the world came to a standstill when the pandemic came into existence. From sports to tourism, everything stopped. In March 2020, the news was announced that all the nations worldwide are imposing an unprecedented lockdown for an indefinite period. The result was that people could not travel from one country to another, local travels were put on a halt, and people could not come out of their homes. Speaking of which, this also affected the 2020 Tokyo Olympic games. Yes, today, we are going to talk about the games, in particular.
So, if you have been feeling out of the entire loop, you are not alone here. We will give you an overview of everything you must know about the games to get you updated and up to your speed. To begin with, what are the Olympics? The games’ opening ceremony was scheduled for July 23, Friday, with the closing ceremony on August 8, 2021. Having said that, did you know that Japan is 13 hours ahead of the ETZ? Well, yes, we are talking about 3:30 AM. and, where can you watch the games? CBD tends to hold the broadcasting rights to the games with coverage present and free streaming via the CBC website and CBC Gem, along with the mobile app.
However, if you are one of the viewers who do not know why the games are called Tokyo 2020, know that the pandemic officially postponed the games. And, if the management had changed the name and merchandise of the entire tournament, many things would have been affected.
What is The Tokyo 2020s Emblem?
The native of Tokyo Asao Tokyo happened to beat the 14,598 designs to succeed and win an open competition, which was the first-ever in the Games’ history to create and design the Olympic emblem. The emblem comprises a chequered design, composed of three rectangular shapes, traditional Japanese motifs in a conventional Japanese color of white and indigo blue, representing different cultures, countries, and ways of thinking. The emblem is known to integrate a message called unity is diversity and convey the intention of the games to promote the platform to connect the world.
How about a mascot?
The mascot of the Tokyo Olympics is known as Miraitowa, whose design was chosen by elementary school children across the entire nation. If you did not know, the name is a blend of the Japanese words for eternity and future and is reckoned to symbolize a future of hope for people worldwide. This is one of the designs that incorporate a similar chequered motif, which is also available in white and blue, just as the emblem of the tournament.
What are the COVID-19 updates in Japan?
Tokyo fell under the fourth state of emergency, leading to a spike of COVID cases, with the infection reaching out through the deadly delta strain this time. However, a state of emergency is not similar to total lockdowns imposed by the Canadian government. Japan’s lockdown was like closing bars and restaurants early and not serving alcoholic beverages while the games were happening. In addition, even the torch relays are scaled back from the public roads along with dropping promotional events.
Over 80% of people in the games’ village have been vaccinated. Moreover, the IOC announced that BioNTech and Pfizer might donate vaccines to participants from Paralympic and national Olympic committees.
What about fans?
Did you know that fans from abroad were banned months ago? No fans were allowed from foreign countries to attend the Olympic Games in Tokyo. Speaking of which, only a few outlying venues allowed a meager amount of fans, but Tokyo 2020 games were effectively the TV-only event.
How many events?
If a viewer watches everything, how many events will they be watching? This is one of the questions asked by several people online. Know that the competition featured more than 330 events, 339 to be specific, across 50 disciplines and 33 sports. Nut, what was new? Well, four sports were making Olympic debuts. Sport climbing combined three disciplines over the artificial rock wall: bouldering, speed climbing, and lead climbing. Forty athletes took part in surfing for the very first time, competing on the six-feet long “shortboards.”
Softball and baseball also returned to the regular schedule, having been removed in 2008’s Games. Various other sports comprised new events, such as basketball, which included a three-on-three competition.
What’s on its way out?
This was the last year where viewers and Olympic enthusiasts saw the vintage 50km race walk at the games. This event will be discontinued after 2022, where around two of 10, 20, 30, or 35km events will be making their way up.
Featured Image Credits: Pixabay
Cleanliness is one of the foremost factors that determine the health of a household and your family’s well-being. Not only is it the primary job you should adhere to but also a basic one that every house must indulge in. However, some things are not in your hands. Because of this, many people hire professionals to do cleaning and maintain the utmost level of hygiene.
Besides, maintaining high levels of organization and cleanliness in your home can be difficult when you live a busy life. Therefore, the need to rely on professional cleaners tends to become very real if you wish to keep an orderly and clean environment. There are various benefits to hiring a professional cleaner to visit your house or workplace every week. And, if you are not accessible throughout the week, consider going for monthly cleaning services. On the contrary, hiring various cleaning experts can do the trick if you have a corporate office you need to look after.
Once per week, an office or home should undergo a comprehensive cleaning focused on significant jobs that cannot be feasibly performed daily. This is what you need to adhere to. And, if you haven’t till now, this would be the best time to go about it.
Cleaning Jobs Include
- Cleaning of windows on both sides
- Disinfecting and cleaning out of your fridge
- Polishing and cleaning of wooden conference tables
- Bathroom deep cleaning along with all areas
To make life easy for your employees, you need to keep things clean. A professional team of cleaners can come daily or weekly for cleaning services, which will make it easier for you and add to the surroundings and morale of the people working.
It gives you more time.
If you tend to hire an experienced cleaner, you might have much more time to pursue various other things of your interest. A professional and experienced cleaner provides you with more time to do the things you want. It is pretty simple when you do not concur into a job; you get ample time to redirect, reflect, and indulge in other things. So, what are you waiting for?
Enjoy a clean home
It could be a bit difficult to manage all of your home’s cleaning needs all by yourself. Still, with a weekly visit from an experienced cleaning professional, you can surely enjoy a clean home without any fuss involved. Moreover, it is nearly impossible to handle such a kind of cleanliness on your own.
Great for the disabled or elderly
If you have some trouble cleaning your own home, you should look for some professional assistance. It can be pretty challenging to take care of all the cleaning-based needs, and if you cannot do it, a cleaning assistance team will make your life much easier. This service is highly suitable for the elderly.
The cleanliness of your office also reflects on your company as a whole
It’s essential to land a seamless impression on them as they visit your workplace. Clutter, dirty dishes, overflowing bin cans, and cluttered desks convey that you lack professionalism. This is why one should place a call and hire professionals weekly or monthly. Moreover, this also determines that you’re a professional who’s only looking to adhere to the best of both ends.
Many would also argue, that the post-COVID era is all about maintaining hygiene and well-being. So, it has become quite essential to make a move and land an impression.
A buildup of dust, lint, and pollen could create breathing hazards for everyone in the office, which will end up triggering asthma attacks, stuffy noses, and other uncomfortable health issues—clean and dry floors to prevent falls and slips. Maintaining clean, dry floors is essential for the prevention of slips and falls in the workplace. In addition to slips and falls, clean floors are necessary for many other factors. If some water spillage occurred a day before and flies or mosquitoes happened to manifest in the area, it could be detrimental to everyone’s health around the office.
So, even if you do not have many options to play with, routine cleaning has to be one of the top jobs you need to enroll in and consider.
It would be fantastic if you didn’t have to think about taking care of your home on your own when there are sizable advantages in hiring a cleaning company for the same work. In totality, cleaning is one of the activities you can’t avoid or foresee since it can be hazardous and detrimental to your health and household. Suppose you have a pregnant lady in the house. In that case, cleaning becomes the driving factor. As a result, never avoid such activity. Instead, plan, hire, and make a move as soon as possible.
Featured Image Credits: Pixabay
It’s difficult to imagine how the pandemic would have played out without technology to make remote work possible and keep people in contact with their friends and family. Thankfully, technology has kept us entertained, at work, and in school through web conferencing software. Even nine months into the pandemic, tech companies continue to help users stay safe during these unprecedented times.
Tech reduces human contact and makes it possible to see the doctor, get medicine, or hang out with friends without being in the same physical location. Even non-tech companies are utilizing technology to improve their products and get them to more people. These changes, mostly brought on due to Covid regulations, aren’t temporary fixes to health problems but long-lasting changes that will prevent the spread of germs and improve people’s mental and physical health across the world.
You Can Handle Most Medical Situations Without Leaving the House
Most times, when people are sick, they have a general sense of what their doctor will prescribe them to help them heal. People with rashes, allergies, or other easily treatable illnesses can quickly get the treatment they need without trekking to the doctor’s office. Most symptoms of common ailments don’t need a doctor to physically examine them to determine their cause or course of treatment. Teladoc companies make it easier for patients to get the help they need without risking getting sick from other patients.
Besides keeping people socially distanced, these apps reduce the time you need to wait or sit idly when visiting the doctor. A typical doctor’s visit includes commuting, waiting in the waiting room, getting checked by the nurse, waiting for the doctor, traveling to the pharmacy, waiting for medications to be ready, and finally traveling back home. While there still is some waiting during teladoc appointments, a majority of that time can be used productively since patients are in their homes instead of a waiting room with outdated magazines.
Doctors send prescriptions directly to the pharmacy eliminating multiple steps on the road to recovery. Pharmacies are jumping on the tech bandwagon as well and finding ways to get medication delivered directly to clients. Amazon, which continues to disrupt all industries, is beginning to offer prescription services for members with recurring medications, demonstrating yet another way people can get medical help without leaving the house.
Contactless Payment Is Limiting the Spread Of Germs
One way to keep people from seeing doctors is by preventing them from getting sick in the first place. High contact surfaces like doors and point-of-sale hardware are touched frequently but seldomly cleaned. Reducing the amount of contact between shared surfaces keeps people out of doctor’s offices because they aren’t touching the same surfaces every other person touches.
The rise of contactless payments during the Covid pandemic increases the need for software engineers and IT personnel to work for financial tech companies, restaurants, and any place of business. Contactless payments are in favor during Covid because of their health benefits, but people will only continue to use them if they trust cybersecurity professionals to keep their data safe.
Mental Health Treatment Is Available 24/7
Covid is also negatively affecting people’s mental health. The pandemic has turned even the most routine outings into stressful ventures due to the changing regulations, social stigmas, and fear of contracting Covid. These anxieties are amplified for people who lost their jobs or have pre-existing conditions or elderly parents to worry about. Luckily, mental health is becoming more accessible through the Internet.
Like teladoc companies, new apps offer therapy and other mental health services to people who need them around the clock. This additional support is also gaining popularity as more employers offer mental health services through their benefits programs. Keeping people in a good state of mind is a great way to keep their immune systems strong enough to fight off diseases.
Are Software Engineers the Key to Changing the Healthcare Industry?
None of the technology that is keeping us safe during Covid would be possible without tech companies and their dedicated employees. While software engineers aren’t on the frontlines helping save lives like doctors and nurses, they are helping keep people out of the hospital. You can learn the skills you need to become a software engineer or other tech employee by learning to code. To do this, you can attend a coding Bootcamp. If this is something you are considering, Computer Science Hero is a great resource to start down the path to keeping the world safe.
This article was written by Shaun Borland.
About the Author:
Shaun Borland is a writer with expertise in education, technology, and their points of intersection. Shaun earned a master’s degree in Special Education from Dominican University and a bachelor’s degree in Homeland Security and Forensic Psychology from Tiffin University.
Featured Image Credits: Pixabay
The COVID-19 pandemic has had a huge influence on the economies of many countries, so much so that the current financial score of many brands now wears a new look, significantly different from what it was in the last fiscal year. The stock market seems to be running on pins and needles, with trades and businesses no longer in full swing as they used to be.
While some brands hit a new low during this period, others have been at the tailwind of the robust stock market, hitting astronomical figures in profits. To determine how well or not businesses have adjusted to the whims and caprices of the coronavirus pandemic, we have organized a study based on some industrial and retail giants.
This case study, based on fifty (50) large companies that maintained a market capitalization of over USD $10 billion before the pandemic highlights what areas of the economy were most hit, and which of these industries managed to stay afloat regardless. It also discusses whether the current state of the economy is only temporary or whether brands should prepare for a new normal.
For the purpose of this study, it is assumed that these companies started feeling the influence of the coronavirus pandemic on January 30, 2020, when the World Health Organization (WHO) announced Covid-19 as a global health emergency.
The Rise and Fall of Global Business Empires
A temporary phase? Yes? No? Whatever the case, it is difficult to ignore the fact that the modifications major commercial players are making on their business models are going to affect the world economy significantly.
Worthy of note is that most of the companies that have prospered during the pandemic have American and Chinese roots. Coincidentally, many big players in the US are also bearing the brunt of the pandemic, recording meager profits; and some of them, even losses.
In what is turning out to be a dismal year for many, certain technological giants have somehow flourished, plausibly due to the types of services and products they provide.
Even with governments imposing lockdown measures and ordering citizens to stay indoors, companies like Apple, Amazon, Facebook, PayPal, T-Mobile, and Alibaba have still managed to pull through the pandemic with ease, registering significant growth in the process, with the potential to maintain their high capitalization values even past the crisis.
According to the study, Zoom Video Communications Inc has enjoyed the largest increase in market capitalization, more than twice that of Tesla in second place. Interestingly, this number is still on the rise.
However, it remains to be seen if this trend will continue or there is a potential dip in market capitalization percentage lurking around for Zoom. Eric Yuan, the CEO and founder of Zoom, has been touted as one of the best business leaders during the pandemic.
Tesla INC also received a major boost in market capitalization. A major contribution to the sudden spike was an announcement about a stock split made on August 11, 2020. Since doubling the number of shares doesn’t necessarily translate to an increase in earnings, the evolution for the next period is uncertain.
NVIDIA Corporation, Pinduoduo INC, Shopify, Meituan Dianping, and DocuSign Inc, as well as the United Parcel Service, all had a decent increase in market capitalization, and are likely to keep that score steady for a longer-term compared to others on the list.
Online shopping and deliveries became essential during the lockdown, but it remains to be seen whether people will choose to do a significant part of their shopping this way in the post-pandemic period, or simply hurry back to brick-and-mortar stores as soon as the situation allows.
Another category of companies are those without any significant rise in market capitalization, but with the potential to maintain steady numbers or grow steadily considering their well-established market presence and strong consumer base. Among them are Tencent, Netflix, Adobe Inc, Thermo Fisher, Target, Costco Wholesale Corporation, Lululemon, Qualcomm, RingCentral Inc.
As for businesses like Abbvie INC and Danaher, the public response would become a huge factor in whether the rising trajectory will continue or dip in the near future. At this point, it is hard to tell which would be the case.
Taking a look at percentage drops, it’s not so difficult to spot Occidental Petroleum Corporation with the biggest slump in market capitalization, a whopping 74% drop. The oil-producing giant is struggling to move forward, after repeatedly slashing its budget to avoid accumulating massive debts it could potentially incur due to the oil price crisis.
The Boeing Company is not left out either, placed only a few points shy off Occidental Petroleum Corporation. Between the efforts to bring back the Boeing 737 Max and the headache in solving the manufacturing issues of the Boeing 787 Dreamliner against a gloomy backdrop in the whole airliner industry this year, it’s hard to say what 2021 will bring for this aerospace and defense giant.
Exxon Mobil Corporation is also on the other end of the spectrum, showing a significant drop in market capitalization by USD. In retrospect, it’s not the company’s first severe hit, and the fact that it’s managed to bounce back indicates its resilience to possibly rebound once the current climate starts to clear away.
Numerous industrial and retail giants suffered huge drops of around 30-50% in market capitalization during the coronavirus crisis. Big corporations like EOG Resources, Wells Fargo & Co, Royal Dutch Shell (in the Netherlands), B.P. p.l.c. (in the U.K.), United Airlines Holdings Inc, American Airlines Group, Delta Air Lines, Kinder Morgan have declined by between 40 and 50%.
Others like Citigroup, Wynn Resorts, Equity Residential, Host Hotels & Resorts, Raytheon Technologies Corporation, Marriott International, Inc., Chevron Corporation, and MGM Resorts all saw a dip in their market capitalization by about 30 and 40 percent.
How A Shift in Consumer Habits Plunged Some Brands Into The Doldrums
The coronavirus pandemic was not only a health crisis but a black swan event that exposed the vulnerabilities of many companies and industries. Most of these companies were unable to cope with the shift in consumer habits, and not even clutch decisions by their management could save their faces. In one clean sweep, these industries lost a large fraction of their customers because they were unable to cater to the new needs of their customers.
This shift in consumer habits no doubt dealt a huge blow to some industries while ordering others to the forefront of things. The response of these businesses to the change in consumer habits is what separates those that flourished in this period from those who were hit hard by the crisis.
The tables below are a pictorial representation of how the response to a change in consumer habits split these fifty successful commercial giants into two halves. One half represents those who adjusted their markets to accommodate the new demands and are hence ahead of the curve while the other highlights brands who couldn’t get a favorable market share because of the change in demand.
From the tables, we can deduce that:
- Companies in the consumer cyclical and tech industries saw the most increase in market capitalization.
- Most of the companies in the oil and gas industry saw a sharp drop in their market capitalization
- Occidental Petroleum Corporation was the biggest loser (74%) in danger of collapsing at this rate.
Connecting with the change in consumer habits
The coronavirus crisis made a lot of companies reevaluate their business models. As the tables show, those who couldn’t connect with this change in consumer habits are those on the red side of the spectrum while the greener half of the table houses either companies that this shift in demand favored or those that diversified to accommodate the needs of the consumers.
Were some companies naturally favored by this shift in demand?
Yes, Some companies were naturally favored by this shift in consumer habits. Prime examples are Netflix and PayPal. Since these brands are internet-based, movement restrictions and border closures couldn’t affect their revenue or market capitalization negatively.
Since most workflows were restricted to online communications, companies that promoted online classes and video communications were bound to do well. Zoom, in particular, took the opportunity by the scruff of its neck and established itself as the best video communications software to be used for collaboration by work teams.
This was also the case for RingCentral. Their online meeting tool helped fill the blanks for work teams who worked remotely. For many was a more practical medium for transmitting urgent messages to other members of a project team.
The market capitalization of software companies like DocuSign and Adobe was also on the rise for the same reasons as RingCentral and Zoom. Using these platforms, members of a work team can collaborate better, sign documents online, and fax these documents to other signatories.
There were also significant jumps in market capitalization for medical suppliers, drug manufacturers, and research companies, boosted by funds from governments who are going all out in search of a COVID-19 vaccine.
Companies that failed to accommodate these changes in consumer habits
Some companies in the oil and gas industry as well as the traveling sector could hardly survive the crisis because of the kinds of products they produce. They also couldn’t modify their modus operandi to accommodate systems that can help bolster their revenue.
Revenues in the oil and gas industry were downed by a significant change owing to a reduction in production and the current oil price crisis. Oil companies like Occidental Petroleum Corporation were the biggest victims. The oil giant is now wallowing so deep in the mud that they can potentially crash soon.
Traveling and accommodation services also suffered a huge hit. Airlines like The Boeing Company and American Airlines Group and hotel owners like Marriott International, Inc., were not spared either because of the sudden drop in demand.
Could diversification have helped these companies?
There are a few companies like Amazon that could have been held back by border restrictions but had diversified into other niches, making it easy to score a higher market capitalization value even in the face of the crisis. The e-commerce titan had earlier delved into hardware, payments, media, and data storage, and was, therefore, in the right conditions to flourish even when COVID-19 came knocking.
Amazon Prime video did pretty fine, rivaling Netflix for sales. The commerce sector of the brand didn’t do badly either as the company focused on shipping essentials and groceries. This however came at a cost. The e-commerce giant championed by Jeff Bezos added 175,000 new employees to its existing workforce to handle demand in the period.
The Biggest Growths In Value During The Coronavirus Crisis
For a few major companies, the current context has proven extremely beneficial, and they registered a significant profit. Here are the Top 5 Highest Expansions in Market Capitalization in 2020:
Of all the fast-growing companies during the COVID pandemic, Zoom Video Communications Inc made the most impressive progress. Offering a video communication platform, it provided exactly what people needed during this troubled period: a medium for face-to-face communication and organizing meetings for people from different locations in a single video meeting.
Founded in 2011 by Eric S. Yuan with the headquarters at San Jose, CA, the company found the path to success by focusing on the cloud architecture and using a highly efficient marketing strategy focused on what the market demanded. All of these paired with strong and efficient customer support helped Zoom top the chart.
Tesla is another winner – in terms of market capitalization – during the Covid-19 pandemic. However, theirs is a peculiar situation as earlier highlighted. The decision to approve a five-for-one split in the soaring stock this year contributed to the sudden rise in market cap. Still, Tesla will go into the record books as the auto manufacturer with the highest market value, despite being well behind its competitors when it comes to sales figures.
DocuSign Inc is in third place with an increase in market cap of 169%. In this case, the rise is justified since the company offers services that have become crucial for the business world during the pandemic. Electronically signing documents and handling business deals online is the new trend, but it’s not just companies that benefit from these services. Individuals also need to store information and sign documents online safely. Founded in 2003, DocuSign is one of the companies that may maintain steady growth in the following period.
Pinduoduo INC is no doubt one of the world’s biggest commercial brands. Their market capitalization during the Covid-19 crisis is well justified given their area, experience, and customer loyalty. The e-commerce platform not only offers competitive prices but also has a group buys policy, making their prices hard to beat. Like David Liu, the vice president of strategy said in an interview, ‘e-commerce actually played a big part in supporting and stabilizing’ people’s lives.
Meituan Dianping is another major shopping platform in China, focusing on locally found products and services. They have been on the market since 2010, and are on the mission to become the untouchables in service delivery just like Amazon is with products. Customers who use their apps and websites, depending on the services they need get deals and vouchers.  Number five on our list, Meituan Dianping, is also doing quite well, meeting and surpassing their financial projections.
Post-Pandemic Previsions – How Will the Market Change?
Making projections and developing programs and models to help the economy bounce back is no doubt going to be a tall order for governments and companies worldwide. It is still difficult to see which way the market will go when the crisis is over. As far as authorities are concerned, the main lesson learned is that there is a need to strengthen the sectors that were exposed as frail by the coronavirus pandemic.
As for the 50 major players that we included in this study, it is still difficult to predict what their situation on the market will be in the post-pandemic world. We would probably see some of the companies now recording huge profits start a slowly descending curve once things begin to settle down.
Some spikes in market caps we have seen are impossible to maintain, but that doesn’t necessarily mean there will be a sudden drop in those figures as well. Some of these giants are building up new loyal clientele during this challenging time, and are likely to maintain a good position on the market in the future.
As far as the industrial and commercial giants are concerned, their future may be determined by the strength and resources they have to help them scale through the crisis unscathed. For the most part, the big drops in market capitalization are related to the sudden decrease in market demand. If that be the case, these companies are likely to bounce back once the lockdown restrictions are lifted. But for those that are currently facing severe drops, it’s already a matter of survival.
The Covid-19 pandemic has surely created a shift in the way customers see certain services. People and companies have discovered that many operations can be conducted online, and they may want to restructure their activity even after things come back to normal. The progression into a new normal may reflect on the economy and we are poised to see a corresponding adjustment in market capitalizations.
The COVID-19 outbreak has completely changed the way we live, the way we do business, and the way our economy functions as a whole. Many states are still in lockdown. More people are being asked to work from home. Video conferencing and Zoom have replaced face-to-face interactions.
And with so many people being asked or choosing to spend the majority of their time at home, it’s been an especially difficult time for many small businesses.
But there’s one business model that’s booming in the midst of the coronavirus crisis—and that’s home delivery.
More consumers than ever are turning to delivery services to get the products they need (for example, downloads of the grocery delivery app Instacart increased a whopping 218 percent from February, before the pandemic really hit in the US, to March, when staying at home orders started to roll out across the United States). So, if you want to continue to drive sales, you should definitely consider pivoting your operations and moving towards a delivery model to better serve your customers.
But how, exactly, do you do that? Let’s take a deep dive into how business owners can run a successful delivery company during the COVID-19 crisis (and continue to drive sales and revenue as we navigate the new normal):
Figure out how to pivot your business model to delivery
If delivery is uncharted territory for you and you’re offering delivery services for the first time, the first step to running a successful delivery company? Figure out how to pivot your current business model to delivery.
How to successfully pivot to delivery is going to depend on your business, your customers, and your bandwidth, but some questions you’ll want to keep in mind when figuring out your delivery strategy include:
- How will we deliver to our customers? Are we planning to partner with a third-party delivery service or are we going to handle deliveries in house?
- Are we going to be delivering our full product offerings or selected products? So, for example, if you’re a restaurant, are you going to be offering your full menu for food delivery or a limited menu of delivery-only items? Or, if you run a chain of grocery stores, are you going to list every item in your store for delivery or are you going to focus your delivery service on surplus inventory?
- What additional support do we need to pivot to delivery services (for example, additional staff, delivery bikes or vehicles, packaging, etc.)
- What kind of opportunity does delivery add to my business? For example, if the majority of your customers are within a five-mile radius of your business, there would be a lot of financial opportunity in delivery services—but if your customers are spread throughout the state, building an e-commerce website and shipping your products might make more sense.
Handle the logistics
Once you’ve figured out how to pivot towards delivery, it’s time to tackle the logistics of adding delivery services to your business.
While every business will have different logistical issues, some of the logistical tasks you’ll definitely want to tackle before launching delivery services include:
- Figure out your costs. Your delivery business isn’t going to be sustainable if you’re spending more money to deliver your products to your customers than you’re making on each sale; you need positive cash flow to make it work. Look at all the costs associated with making deliveries (including gas and labor) to determine the minimum order amount and maximum delivery area that makes sense for your business. So, for example, you might deliver within a 5-mile radius for orders over $15—and any orders below $15 or outside of your delivery area would only be eligible for pick-up/take-out.
- Adjust your inventory and supply chain management as necessary. When you move your business from an in-person to a delivery model, you might need to adjust your inventory and supply chain management to support your new business needs. So, for example, if you run a clothing boutique, you’re not going to need as many in-store display items (like hangers or racks)—but you are going to need more boxes and bags to package your deliveries—or if you’re a restaurant and you’re shifting towards a limited delivery menu, you’re going to need to adjust your ingredient ordering to support your new dishes.
- Figure out staffing. Just like your supply needs may change when you pivot to delivery, so might your staffing needs. As you’re moving towards a delivery model, look at your current staffing and scheduling and determine how you’ll need to adjust to support your delivery services (for example, hiring delivery drivers or scheduling more staff to fill delivery orders during busy shifts).
- Look into additional insurance needs. If you’re going to be handling deliveries in-house and transportation wasn’t a part of your prior business model, you may need to get additional insurance coverage to cover yourself and your business in the case of an accident or injury. Talk to your insurance company to see which option is the best fit for your business.
Develop a system for managing delivery orders
When it comes to deliveries, there are a lot of moving parts; you need to keep track of your orders, collect a payment, assign orders to delivery drivers, and make sure that each order is making it to your customer quickly, efficiently, and with each item, they ordered and paid for. Without a clear system in place for managing your delivery orders, things can quickly devolve into chaos.
Which is why you need a system in place from the get-go. Before you launch your delivery services, you need a clear plan in place for:
- How customers submit orders (for example, will you be taking phone orders or should customers place delivery orders for your website?)
- How customers submit payment
- How orders are fulfilled (for example, who is in charge of fulfilling orders as they come in? How long are you estimating it will take to fill orders?)
- How to assign delivery times
- How to check orders are accurate before they’re sent out for delivery
- How to assign orders for delivery drivers
- How to confirm orders are delivered and received by the customer
Once you’ve developed your delivery system, it’s important to make sure you implement any necessary technology (for example, secure payment processing or an order processing system) and train your staff. That way, when you launch your delivery service, everyone knows exactly how to take, fulfill, and deliver orders to your customers.
Spread the word about your delivery services
You can’t run a successful delivery company if no one knows you’re offering delivery services. So, one of the most important aspects of launching delivery? Getting the word out.
If you want your delivery services to take off, you need to let people know that you’re offering delivery. If you’ve been closed, email your customers to let them know you’re reopening as a delivery service. Share discount codes on your social media profiles to encourage your customers to order delivery. Look for creative ways to generate buzz around your new delivery services, like partnering with other small business owners to deliver local product packages or offering free delivery for frontline healthcare workers.
The point is, a clear marketing strategy is a key part of building any successful business—and if you want your delivery service to succeed, you need to spread the word to as many customers as possible.
Implement safety measures for your customers and delivery staff
The well-being of your customers and delivery personnel needs to be the top priority when you’re delivering in the midst of the COVID-19 pandemic—and that means taking the necessary safety precautions to protect them.
Make sure your team is practicing social distancing and taking proper sanitation measures when fulfilling delivery orders. Provide face masks, hand sanitizer, and gloves to your entire delivery staff. Offer contactless delivery options to minimize exposure between delivery personnel and customers.
In the midst of the COVID-19 pandemic, you can’t be too safe, so make sure you’re taking any safety precautions recommended by the CDC and World Health Organization and are doing everything necessary to protect yourself, your staff, and your customers.
Deliver your way to a more sustainable business
There’s no denying that small businesses have been hit hard by COVID-19. But by adding delivery services to your current business model, you can build a more sustainable business to carry you through these uncertain times—and emerge stronger on the other side.
The original article by Deanna deBara was originally published at hourly.io
Featured Image Credits: Pixabay