October 17, 2021

SME Business News

Small Business News UK

Coming out of the pandemic – five lessons from an SME in surviving a crisis

Written By Daniel Todaro, Managing Director, Gekko

When the pandemic first hit, my thoughts were drawn to the here and now. This involved reforecasting and our cash flow, calculating how long the business could survive and employ staff without any income. However once the dust settled it made me realise there was never a better time to embrace new thinking and how necessity is the mother of all invention. The pandemic has forced new approaches and new ways of thinking that can improve how SMEs can do business. From how we engage with staff to our approach to business and people we work with, to the new products we are developing. I think there have been five ways we have mitigated the worst impact of the pandemic that are good lessons for other SMEs in similar situations.

Supporting staff

My key focus was employee support and motivation so whilst we agreed plans with brands, the workforce needed to be supported to deliver these. Lockdown put the nation under very odd circumstances, unique to everyone and all very personal. We therefore began the process of honest communications, support from a work and personal perspective to help develop coping mechanisms and create clear expectations of working patterns and priorities. We increased training, which ranged from soft skills learning and also included employee support curated with external practitioners in each field to assist the workforce as best we could. These initiatives looked to develop life skills delivered virtually for all staff, these included Coping with Covid sessions, Diversity, equity and inclusion discussions, Mental & Physical Health courses which evolved based on employee feedback, all supported by our weekly Fit for Gekko emails that gave useful information, tips and light hearted advice. As the bedrock of the business during uncertain times we needed to make sure they were looked after and could bounce back strongly when the good times returned. 

Develop new innovative services

Even with some restrictions eased at different points, it became impractical and less safe to send people in store to train staff so we moved at pace to pivot to develop new digital services for brands. This included a digital learning management system for retail sales teams. This is something we had been strategising for a while but the pandemic forced us to rapidly speed up the development. The upshot is we have been able to train many more staff than we would have and created a valued new service which will complement our instore activity. For one brand we have trained over 100,000 retail sales advisors virtually since March 2020 through a mix of live streams and one 2 one virtual sessions. It enabled us to increase our reach by 37%. In meeting the needs of the evolved channel, we have helped diversify our business offering. We also created multiple Engagement Portals for staff in areas ranging from virtual education, online expenses, employee management tools. We will continue to focus on increased investment in data and insight and training and employee engagement. 

Invest in insight and truly knowing your customer

With less live activity with clients, we invested in our Data and Insight team to develop our research market trends, economy and shopper habits. This was critical to support the brands we work with and equip our staff to understand the macro situation better and react. In gaining a better understanding of the state of the nation we created a shared understanding of the challenges ahead and how to overcome them. It has set us up in a good place to understand the challenges of the future and to remain more relevant for our partners and clients.

Cementing relationships in difficult time

Given the difficulties we have all faced, this period has been a perfect opportunity to really cement relationships with partners. We all faced the same challenges and it was a time to show loyalty. In some ways the pandemic provided the glue to bring us all closer. Sadly there have been many examples of businesses who have failed in this regard during this time. But my sense is that this will be remembered by customers and suppliers. Short term financial decisions could have long term implications for brands seen as not helping people during this time. Fortunately the majority of our client base were very supportive of our partnership. However with others I had to hold their feet to the fire a bit. It’s interesting to see how some global brands reacted to suppliers, not all were consistent with their ‘corporate values’ and as an SME you have to be brave and stand your corner. With a sustainable cash flow and supported staff we were able to begin the process of pivoting to meet the immediate needs and changes required to support our brands so that they could continue to operate in the channel and compete.

Never underestimate your staff

I remain optimistic for the future and if we can retain and grow our talent organically, complementing this with more flexible working patterns, I believe we can recover in the next two years to bounce back and exceed the 2019 results. I do think this whole period has speeded up innovative thinking, digital transformation and under the heat of the pressure encouraged agile and dynamic thinking such as the development of new products and services ensuring we serve the needs of clients. On a human level it has of course created an enormous amount of stress, pressure and tragedy for so many and we need to be mindful of staff’s mental health as we return to the office. But ultimately it has made me appreciate that you should never underestimate your staff. 

The hidden talents, resilience and ability to adapt were highlighted amongst the team with the vast majority adapting and delivering irrespective of the situation. It’s easy to see your staff as just ‘employees’ but they are more than that, they are the pulse which makes your business beat and adapt better than perhaps you may have wrongly imagined.