This document provides a checklist for businesses to assess how to adapt to changes brought about by the COVID-19 pandemic. It recommends that businesses first validate the core value they provide customers and whether their reasons for purchasing are still valid. Businesses should then analyze their value chain and business model to see if their supply network, capabilities, and sales channels can still sustain operations. Regulations and workplace safety measures also need review. Finally, businesses should monitor competitors' responses and customer preferences, which may be shifting more towards convenience and technology. The checklist helps businesses understand where they stand to then develop an action plan for navigating new market dynamics.

1. Hypothesis: “Pandemic lifestyle”
remains and becomes permanent.
Will your business survive?
A simple checklist for individuals and small to medium
scale businesses in times of disruption
Buket Bas, May 2020

2. Where to start adapting your
business to new “normal”?
Photo credit: Adrien Delforge

3. To know where to start, first
know where you stand
• Identifying and validating the core value added by the
products / services you offer
• Analysing the corresponding market with new dynamics
• Awareness of the changing ecosystems affecting your
business
• Identifying the changes your company needs to
implement in order to survive or even to achieve a
breakthrough

4. Validating
the value
added
you offer
Photo credit: Antonika Chanel

5. Think of reasons why your customers
used to buy your products or services
You need a thorough analysis here, identifying
each point relevant
Perhaps one or more of these were applicable to your case:
• The unique need your products satisfy
• Your very competitive pricing
• Higher quality you offer
• Convenience and availability of your products /
services
Are those reasons still
valid for your
customers?

6. Say your value
offering is
valid but are
you still able to
provide your
customers
with it?
Photo credit: Reductive health supplies coalition

7. You need a detailed reassessment of your
entire value chain and business model
Here are some checkpoints that might be of help:
• Validity and availability of your supply network
• Confirmation of your capabilities (your production
methods, physical conditions of your manufacturing
facility, etc.)
• Validity and availability of your sales channels
Are main streams of
your value chain
sustainable in the short
to mid term?

8. We can
expect some
items of your
business
model will be
affected, if
not all
Photo credit: Gerson Cifuentes

9. At a minimum, you will need to implement
certain measures at your workplace
What would help you avoid any potential infection
spreading around at your offices / facilities?
A bit of a food for thought:
• To what extend can you implement permanent home office concept
for office based work?
• Is there any potential for digitalizing some processes at the office /
plant?
• What physical setup / refurbishment will you need to ensure
physical distancing needs at your facility?

10. Are you aware of the changing
regulatory environment?
Governmental bodies, institutions
are developing and launching
guidelines to define the “new norms”.
It is likely to soon have regulations
imposing permanent rules and
requirements for work places.
Possibility is quite high that these
measures will have certain cost
impacts.
Photo credit: Jon Tyson

11. Do not
underestimate
convenience
aspect for your
customers
Photo credit: Filip Filkovic Philatz

12. Can you expect a shift in your
customers’ preferences?
• The pandemic phase has been the largest scale
global test for humanity’s accelerated adaptation
capabilities
• We have seen that technology was actually working
quite well in many areas beyond our imagination
• Millions have already got used to the convenience of
apps for handling things in comfort and free from
physical constraints

13. First come
first served..
How about
your
competitors?
Photo credit: Makenna Entrikin

14. You need to watch out how your
competitors are responding the situation
Even if your particular target customers have not
changed their preferred ways of buying your products /
services yet, better to get prepared:
• What could be the improvements you can imagine
throughout your sales channels?
• How sustainable those would be and how applicable
in your particular case?

15. To be able to act, first you
need to know where you stand
• This is now time for a thorough analysis
• Once you are able to come up with answers to some
of the questions, uncertainty will be easier to handle
• Then will come the phase of developing your
particular roadmap and an action plan

16. A quick checklist to start with basic
questions. “Don’t know” is a good answer
too
Your crucial checkpoints
Is there a visible or expected
change?
What are the right questions you can ask to analyse your situation?
Your customers Yes / No / Don’t know yet
• Why did your customers use to buy your products / services?
• Are those reasons still remain valid for your customers?
• If not, what might be their new demand?
Your products / services Yes / No / Don’t know yet
• How is your portfolio of products and services with exact shares in your product mix?
• Which items in your product mix can easily be converted / modified in line with your customers
expectations?
Your capabilities Yes / No / Don’t know yet
• Can you maintain your production using your old methods?
• Are your employees able to work as in the past?
• Will your employees’ skill-set be enough?
Your business model Yes / No / Don’t know yet
• Is your supply network still up and running or valid?
• Is your sales network still up and running or valid?
Regulatory environment Yes / No / Don’t know yet
• What are the changes you have to implement to be compliant with the new HSE rules?
• Are there any digitalisation needs you have to introduce to be able to keep up?
Your competitors Yes / No / Don’t know yet • Are you able to follow your competitions’ response to the crisis?