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The Cobalt PartnersCobalt News Coronavirus is spreading but it’s business ‘the best way we can’ at Cobalt. Here’s why.

Coronavirus is spreading but it’s business ‘the best way we can’ at Cobalt. Here’s why.

In the last couple of months, the world has seen a rapid spread of the Corona Virus or Coronavid worldwide. There are almost 200,000 cases confirmed and counting and needless to say, it has significantly altered our way of life. Businesses are struggling to find alternative systems to operate, children are home from school, families, and governments are doing their best to provide accurate information on how best to manage the epidemic.

Like many world catastrophes, the world has shown time and time again that it can collectively rise to meet adverse challenges but in the meantime, the question remains: How can businesses sustain its operations and ensure that deliverables are considerably met in a state of a crisis?

At the beginning of 2019, The Cobalt Partners decided to fully maximize it’s technological capabilities and transform our company into full-blown virtual firm. Would that be possible? Certainly. Did we have the systems to fully implement and the right team committed to making it work? Well, Yes and No

To fully understand what this meant, The Cobalt Partners, had to re-evaluate the impact of virtual companies, our area of expertise as well as the socio-cultural and economic context of our client base, globally. We also weighed in on other variables such as our lean team, its structure, clarity on what services were possible as a business advisory firm and as well as how to fine-tune our work processes. We were finally ready.

A year in,  with 2020 promising to be thriving opportunities,  it goes without saying that the Corona Virus is a curveball many businesses, we included, did not expect. Granted, there have been critical actions, such as travel-required meetings that have inadvertently been rescheduled or cancelled. However, putting in place the right technology to manage projects, maximize productivity, sustain communication and keep teams accountable has been invaluable in getting timely results. For us, very little has changed. Through well-organized tracking systems, believe it or not, we saw a 35% boost in our delivery velocity, by going virtual. Quick Tip though: Make sure you know where your webcam is pointing. 

 

So how about a crash course on how to re calibrate your business systems virtually? Here’s how:

 

  1. Pep Talk: By now you must be putting thought into how best to communicate to your team on the on-going crisis, projections on the possible outcomes for work and the future. The encouragement will go a long way to assuage fears and prepare your staff for an open-minded conversation.  
  2. Commitment: To achieve results, there must be an understanding of the essence of real commitment to virtual life. Remote work requires organization and discipline. Establish your lines of communication. Is it Email, Hangout, or Skype or Slack? Is everyone properly set up to communicate?. Additionally, there needs to be a culture of responsiveness and responsibility. 
  3. Hire people who take initiative: the success of working virtually, largely depends on processes It is always the question of working smart and effectively. It is important to work with people who take teammates who are prepared to own and fully maximize their strengths and expertise. There will have to be little room for micro-managing individuals and projects. 
  4. Technology is an adventure; explore it: Finally, your company must be willing to fully maximize all the ‘good stuff’ technology has to offer. That will mean trying out a number of applications and processes until you find the right one. That should be ok. 

 

It’s hard to say when the Corona Virus epidemic will be over. At the Cobalt Partners, we are comfortable in making constant changes to ensure we meet the needs of our teammates, exploring what is available to use in terms of innovation and flexibility.