Disruption defines the 21st century and in COVID-19, another demonstration of how quickly a ‘new normal’ establishes is on display. When left unabated, community transmission appears to spread like wildfire, forcing elected officials into making difficult decisions. As social animals, our impulse to mingle is high which is why decisions to contain the spread by installing and enforcing impositions are delicate. Human, political, economic, financial, communal—at every turn, costs are felt. Nothing about what is happening is easy but rest assured, every dusk has its dawn; we will prevail.
By and large, Trans-Tasman efforts to combat coronavirus have been stellar but as spikes in Melbourne and Auckland demonstrated, COVID-19 tectonic shifts are instantaneous. Victoria accounts for around a quarter of Australia’s Gross Domestic Product meaning repercussions are likely to be felt domestically. One wonders if we’re living in a Christopher Nolan Sci-Fi timeline but the reality is, being in business is being in problem-solving and as difficult as the current environment may be, clients and contemporaries look to Nexia Australia for guidance, our role to revise, reset and recommend. Tasked with chaperoning clients through COVID-19, Nexia employees aim to protect against threats but also, discover opportunities. The world hasn’t stopped and neither have we.
It’s natural to feel anxious and uncertain with lessons gleaned from 1990/1991, Paul Keating’s “recession we had to have” suggesting professional service firms won’t feel the full brunt of coronavirus fallout until eighteen months post-event. A pragmatic approach lends itself to conducting strategic reviews and instigating scenario planning, timeframes confined to short to medium. Iron ore prices are reaching historic levels but is recent mining success, that which has kept the nation’s economy afloat, sustainable? With unemployment rising, immigration dropping and population growth (likely) dipping below forecasts, accepting and adjusting to our new reality is vital. One person’s expense is another’s income which begs the question, what are you doing to stand out and capture those precious dollars?
COVID-19 is an inflection point, one offering businesses an opportunity to combat organisational shortcomings, reinforce strengths and expedite improvement. Pessimism does little to buoy the spirits of staff and those who depend on your products/services so employ pragmatism, creating and driving an agile, accessible and advancing operation. Conversations with clients have never been more important and where possible, get out from behind the computer to in front—face to face reassurance is a powerful tool in your arsenal. In a contracting short-term marketplace, the importance of a well-conceived and expertly delivered business development program cannot be understated but realise, for all the concepts, planning documents, installed programs and technology, your people drive action and determine success.
Things may seem grim and clients may present with tales of woe but rest assured, Nexia Australia employees never underestimate the power of a smile and a reassuring voice; we’re here for you and we’ll get through this, together.
