In April, in response to COVID-19, Smart Dolphins launched a “Business Outlook Survey” with the purpose of gathering our business community’s collective sense of where we’ve been and where we’re going. We work closely with many clients and business peers on (and off) the Island and get a lot of value from sharing perspective, resources and ideas. The modest hopes of the survey were to act as a hub in connecting our business community to collectively better navigate a challenging environment.
The community responded! We collected a lot of great intel from a diverse cross section of the business community, representing many sectors, sizes and ranges of experience. Thank you to everyone who completed the survey and engaged in the conversation.
It is clear COVID-19 has impacted nearly all local organizations. Most of those surveyed have had significant disruption and had to adjust, including some cutting of costs and staff. That said, many hold a sense of confidence and maintain a “business as usual” mindset and are more worried about team morale and safety than lost revenue. There was also a minority that have been drastically hit and have had to take drastic measures to survive.
There are indications that many still expect challenging times ahead and that perhaps another shoe is still to drop. This was contrasted by a strong sense of optimism that seems to come from an inspiration fueled by the organization’s mission and in rallying our teams to face a challenging time together. As we’ve seen throughout our community, businesses and organizations have really supported each other through this.
The quick and unexpected transition working from home (WFH) was experienced differently by many. IT-preparedness and investments in business continuity paid dividends. A few shared this transition wasn’t more than a blip in their lives while it appears that some are still adjusting. This new environment also has businesses considering new and better ways to communicate, collaborate and keep their IT safe and reliable.
As we have transitioned through the initial chaos people are now taking the opportunity to consider what the new normal means. Companies are getting creative, learning, innovating and becoming much more nimble. Many are looking at the WFH experience in a more offensive, long term way – how can we better use this flexibility and mobility into the future. Some are executing on long-held plans quickly and looking for new threats and opportunities. Overall, the sentiment is about change and adapting.
While survey is valuable, the true value to me is in the opportunity it offers to take this sharing of ideas and experience deeper.
The survey will be a launchpad for an ongoing business-community-based Podcast starting this month. We’re lining up our first guests and will be sharing release dates soon – we hope you’ll tune in and join the conversation. Reach out if you’d like to be a guest.
Again, more to come and once again, thanks for sharing your perspective and engaging in our business community.