Finding Hope in the V-Curve – How Understanding the Coronavirus’ Economic Impact Can Prepare Your Business for Future Growth

These days it seems like all anyone can talk about is the Coronavirus. As it continues to affect schools, health centers, nursing homes, and the global economy, more and more employees are switching to remote work. And the media is taking advantage of it.

With an influx of information, statistics, and reports of the virus’ effect on not only the health of our peers and loved ones but the world economy, the outside world–and foreseeable future–are looking a bit grim…or are they?

I’m no psychic, but the global response to the virus is quite amazing. Though the stock market has plummeted and many businesses and institutions are closing their doors, there may be hope in the V-curve.

The V-Curve

As we’ve seen time and time again, both economic booms and economic slowdowns eventually come to an end. A mere three months ago, we were in a bull market, meaning all aspects of the financial market – stocks, bonds, real estate, currencies, commodities, etc. – were on the rise or were expected to rise. And then the virus emerged.

So, what is this other “V” word? The V-Curve!

“When you think about a V-curve, it is exactly like you picture,” says Andrea Eisfeldt, an economics professor at the UCLA Anderson School of Management. “You have a fairly sharp drop, and then a fairly speedy recovery.”

As a health shock is primarily driving the recession we’re now in, it will likely have a quicker recovery rate as opposed to an “L-shaped recession,” which has an even steeper decline and prolonged recovery.

As families and workers worldwide take precautionary measures and self-isolate, we’ve seen companies around the world react similarly. Conferences, events, festivals, and more are being canceled or postponed left and right. Sports games and entire seasons are either canceled or postponed indefinitely. And we’ve already seen the positive effects of these actions. Chinese hospitals are discharging patients, and temporary hospitals in China are closing down — and life is beginning to return to normal.

On social media, several have joked that due to hockey cancellations, Canadians have nothing better to do than to look for a cure – and in a matter of days, Sunnybrook Research Institute, the University of Toronto, and McMaster University were able to isolate and replicate the virus in a lab.

“The isolated virus will help researchers in Canada and across the world develop better diagnostic testing, treatments, and vaccines, and gain a better understanding of SARS-CoV-2 biology, evolution and clinical shedding,” the research team said in an official statement.

What Does This Mean for My Business?

In short, you can interpret this as — hopefully — the end is nigh. No, not the end of the world, but the end to this recession, pandemic, and international fear. While it may still be a while, there is hope that Wuhan’s success will be reflected here as well. And we should prepare for that.

As we enter the low point, please keep in mind that we will recover. Humans are, if nothing else, resilient. We will improve and learn from our mistakes, and hopefully never have to endure this pandemic again in our lifetimes.

So, when the recession slows and the economy begins to pick up, my question to you is: are you prepared?

As Alexander Graham Bell once said, “before anything else, preparation is the key to success.” By preparing for the upturn of the economy through investing in new technologies, forecasting trends, and remaining optimistic to your clients and peers, not only can you position your company to bounce back but grow exponentially when the recession comes to an end. We’d like to recover from this recession with you, and we’d like to be part of the reason your company bounces back stronger than ever with the best technologies in place to succeed.

It might be a stressful time, but always remember that you are not alone, and you don’t have to go through it alone. At the end of the day, we are all human beings and not defined by our titles. So while we are not therapists here at BrainSell, if you find yourself stuck or need tech advice, we’re here for you. And maybe, somewhere down the line when the economy recovers, you’ll turn to us for your technology needs.

Has your company already switched to remote work? Here are some tips for how to enable your remote workforce to collaborate and be successful.

Source: https://www.brainsell.net/blog/2020/03/finding-hope-in-the-v-curve-brainsell/

2023 Buyers Guide

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Cloud IT Services GmbH Dialfire Dialfire offers you a complete call center solution that is simple and intuitive to use and adapts to your needs. It's completely cloud-based, saving you the hassle of setting up a phone system and installing software. In addition to predictive dialing and call blending of inbound calls, you can create personalized campaigns through an intuitive and easy-to-use interface. Features include automated workflows and full control over the agent screen. You can see the full list of features here:

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Cloudonix Cloudonix’s smart voice calls enable frictionless experiences that drive better customer care and faster sales by merging voice and data into a complete service context. Cloudonix add Cloud capabilities to your existing on premise Call Center enabling your agents to work from anywhere in the world. Security, Privacy and more – rapidly deployed and cost effective without replacing your existing systems or retraining your team.

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Megacall VOIP services Stay in contact quickly and easily with your international offices through Megacall. Megacall will fulfill all your telecommunication requirements and on top of that go the extra mile and surprise you with new possibilities for your business, speed to action your requests and keeping within your budget. 📞 Virtual Switchboard 🔌 SIP trunk 🔢 Virtual number 📠 Call Center Solutions

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NetSapiens SNAPsolution Our SNAPsolution – UC and Collaboration tools – can be quickly deployed so you can realize your ROI just as quick. netsapiens offers a comprehensive suite of unified communications (UC) & Contact Center (CC) feature-sets to service providers. Custom-built to provide our partners with unprecedented levels of flexibility, customization, and ease of use. netsapiens allows you to control your margins in order to improve your ROI. As a provider of a facilities-based solution, you are able to personally choose your origination, termination, hardware costs, etc. to fit your budget. We also allow you to strategically price your product for a maximum return on your investment by charging on a conc... (read more)Our SNAPsolution – UC and Collaboration tools – can be quickly deployed so you can realize your ROI just as quick. netsapiens offers a comprehensive suite of unified communications (UC) & Contact Center (CC) feature-sets to service providers. Custom-built to provide our partners with unprecedented levels of flexibility, customization, and ease of use. netsapiens allows you to control your margins in order to improve your ROI. As a provider of a facilities-based solution, you are able to personally choose your origination, termination, hardware costs, etc. to fit your budget. We also allow you to strategically price your product for a maximum return on your investment by charging on a concurrent call basis instead of charging per-seat or per-feature. SNAPsolution, SNAPvantage, and SNAPanalytics give you all the tools to start off strong in the VoIP industry while giving you room to grow efficiently within your means. Why Sessions, Not Seats? The era of the mobile workforce is upon us. In fact, Google recently put out an estimate that 80% of the global workforce is now performing deskless work every day! Unfortunately, when it comes to providing Unified Communications (UC) features to these deskless employees, many systems operators, carriers and service providers are stuck investing in their platforms on a per-seat basis. That limits them to chasing only about 20% of the workforce - those with actual seats and desks. Why not expand your addressable market and open your business model to chase up to 5 times as many clients as you are today? If a majority of the workforce today doesn’t have a desk, does it make sense to purchase the UC solutions you want to sell by the seat? We don’t think so. That’s why we’ve created this report titled Sessions, Not Seats. In it, we’ll show you why finding a UC platform, like our SNAPsolution, that charges for sessions instead of seats is the way to go.

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