Leading Through the Pandemic: Q&A with our Founder, Rajat Kapur

Leading Through the Pandemic: Q&A with our Founder, Rajat Kapur

Leading Through the Pandemic: Q&A with our Founder, Rajat Kapur

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We’re nearly six months into the COVID-19 pandemic, and life in quarantine and socially distanced from loved ones continues to be a challenge for many, both professionally and personally. As the situation evolves and we continue on the “coronacoaster” – the term to describe the wave of anxieties and uncertainties surrounding this coronavirus – we checked in with our Managing Director, Rajat Kapur, to provide some perspective.

Life in quarantine has been difficult for everyone. What advice do you have to help get through it?

The sense of disruption to our daily lives has had an immense impact on our mental health. For me, I had ridiculously long working days that all started to blend together, which was tough. So making sure to take breaks and separate work life from home life, even though you’re in the same space, is really important.

To cope with the stress, I started meditating and practicing mindfulness – both of which I’d highly recommend! My family has also been hanging out with our neighbors (our “quaranteam”). Almost every night I’d play football with my kids and our neighbor who is my son’s age. It was a welcome break from the stress of running the business. Though, a few weeks ago, I landed on my foot strangely and got a small fracture on the bottom of my heel. It really hurt! Hopefully the boot comes off soon, but I think my dreams of playing in the NFL are finally done.

While the situation continues to evolve, how has the pandemic affected the business thus far and how have you had to adapt?

On Friday, March 13, literally day one of the pandemic, our largest client practically went out of business overnight. Another prospect had to temporarily shut its doors, so that opportunity disappeared. While all of our other existing clients pretty much stayed even or were slightly up, those two combined probably knocked out all of our 2020 growth and then some. That was hard. It was disappointing because it had nothing to do with the quality of our work. Our team was driving good results for those clients.

When that happened, I immediately reassigned team members with less work to brainstorm content ideas and went on a personal listening tour. We quickly published some content and shared it through all of our channels. I called everyone I could think of – current and past clients, prospects, and old friends to check in on them. Mostly to see how they were coping, but also to hear about their experiences. Besides being cathartic, it was insightful. Very soon after the shock subsided, we found some opportunities. Pockets of businesses across industries were using this as a chance to get ahead or reset their goals and invest. And then all of a sudden, the floodgates opened. Referrals and other inbound requests started pouring in at an unprecedented rate, particularly with website, e-commerce enhancements, and content based lead generation programs – all things we do really well. The team responded incredibly well, and although we haven’t made up all the lost revenue, we’re on a path to profitability by the Fall. We’ve even hired two more people, which would’ve sounded insane on that Friday in March.

With so many companies having to shift the way they work, how has the &Marketing policy of “work from wherever” changed?

An important part of the culture that &Marketing is built on is the “work from wherever” policy (we have never had a physical office space), so at first it didn’t seem like there’d be much of a transition. However, I very quickly realized that team members were stressed because everything around was chaotic. Parents of school-age children suddenly became teachers overnight, and team members who live by themselves were left without much (if any) interaction from the outside. As a result, we talked about it and decided to give people even more flexibility than normal, and I’ve tried to add a major dose of empathy, understanding, and humor to all that we do.

What are your top 3 COVID-related concerns right now?

  • The uncertainty of how long COVID and quarantine will last is my biggest personal concern and my biggest professional challenge. I think our economy is in for a long period of “uncertainty” – something I can’t control so I try not to think about it. One day at a time!
  • I’m also concerned about the &Marketing team – they’ve done a great job of ”surviving” through the pandemic so far, but the conversation people aren’t having enough is around the mental health impact of such a disruption.
  • As a business owner, I’m also obviously focused on helping our clients hit their goals. We had to adjust or revamp every client’s 2020 plan, and now we need to make sure those efforts are bearing fruit.

You’re open about the fact that you have ADHD. What is the backstory? What has it been like for you during the pandemic, and what are you doing to manage it?

I discovered that I had ADHD only because my son was diagnosed about 4 years ago at school. I realized I had the same symptoms (apples don’t fall far from trees!), got some professional help. It has really changed my life. I actually don’t look at it like any sort of negative, but rather a ‘superpower’ of sorts. In my discovery, I’ve realized that many entrepreneurs have ADD or ADHD. Some people call it the “explorer” gene – as folks like myself can often see things that others can’t. We’re a little disorganized and not always easy to be around (just ask my wife!), but it can be managed and actually be an advantage.

It’s certainly not been easy to be in quarantine with ADHD and unable to be as social and active as I normally am, and breaking my foot didn’t help. Leaning into a routine has helped, as has being as physically active as I can— including taking walks during calls. I also love listening to audiobooks. Fun fact, I listen to audiobooks and podcasts at 2x the speed while I walk my dog. I used to find it difficult to stay focused enough to read normal books and didn’t read that much. I’ve gone from reading 1-2 books per year to about 50-75 audiobooks a year now!

On a lighter note, what are your top 3 personal interests or hobbies (outside of work)?

My &Marketing family jokes that I really don’t have any hobbies. But I love to:

  • Hang out with my kids – we’re on a spree of watching all the Marvel movies
  • Listen to audiobooks… got any recommendations?
  • Meditate and practice mindfulness

While we’re living through an undefined period of unpredictability, the capacity to be nimble and adapt, and change can bring some level of stability to the situation. We hope that you’re able to draw some inspiration from the insights that Raj shared.

About the Authors

Rajat “Raj” Kapur is the founder and Managing Director of &Marketing. He strives to provide growing businesses of all sizes unparalleled marketing strategy and execution services. Raj brings two decades of professional experience in marketing, sales, and strategy development experience spanning B2B and B2C Fortune 50, mid-sized, and startups.

About &Marketing

&Marketing provides the robust outsourced marketing department growing companies need without the high overhead costs of big agencies or full-time employees. Our variable model empowers businesses to reach their growth goals through access to the guidance and expertise of senior level strategists and a flexible execution team.

Post-Pandemic Readiness Assessment: Will Your Business Emerge Stronger after COVID-19?

Post-Pandemic Readiness Assessment: Will Your Business Emerge Stronger after COVID-19?

Post-Pandemic Readiness Assessment: Will Your Business Emerge Stronger after COVID-19?

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The COVID-19 global pandemic has impacted businesses far and wide, and will continue to do so in the months and years to come. At best, companies have taken a critical look at their business plans and adjusted their ways of working, amidst stay-at-home orders and operational disruptions. At worst, many businesses have filed for bankruptcy or shut down indefinitely. As the impact of the pandemic continues, now is the time to rethink and reset your business objectives and strategies. There’s no “going back to the way things were.” Will your strategy withstand the “new normal?” Will you emerge stronger post-pandemic?

Companies poised for sustainable, long-term growth are those that are addressing the discontinuities and trends emerging from the pandemic, and seizing them as opportunities. Flexibility and adaptability are critical. These companies will transform their thinking and continually innovate around their products, services, and business models to fit the ever-changing needs of customers and employees.

In this blog, we share the four key areas that companies must focus on, and provide an actionable guide on how to assess your company’s readiness for the post-pandemic world.

Post-Pandemic Areas of Opportunity
The changes occurring are complex and can be confusing. As we start to emerge from the pandemic, the future looks very different than the past. Companies need to focus on four critical areas to be successful (and stronger) over the long-term:

Now is the time for resilient leaders to take decisive action to soften the shocks yet to come, and prepare for what may change in the months ahead.

Redefining the customer experience
Redefine the customer experience by deepening relationships and adapting to new customer needs. Beyond just ‘selling’ and maintaining relationships with existing customers, you should update customers on the status of your business, provide content that caters to their specific needs, and proactively assure them that you’re taking all COVID-19 safety protocols seriously. Communicate through multiple channels, such as individual phone calls, video chats, social media, and digital content. Distribute pulse surveys to understand customer needs and concerns. This is not the time to disappear.

Revive your relationship with employees
Human capital is critical, as employees are the engine that keeps a company moving forward. The pandemic has disrupted this. Employees are nervous. Many have lost their jobs or are on furlough. Communicate openly, honestly, and frequently with employees, and be flexible to their needs. This will help boost morale. Companies are having regular call-ins with work-from-home employees, and sending small gifts and thank-you notes. Do not shy away from giving employees feedback on their work. Now, more than ever, they need support and guidance.

Restructure your supply chain
Getting your supply chain back up and running is mission critical. Identify what went wrong, learn from it, and determine what you need to change. Many companies want multiple sources and more domestic or closer suppliers. Diversification away from China is an option that some companies are already considering. They may not move to the U.S. given higher costs, but to other countries in the Far East, Mexico, and Central America. Indonesia is all looking more attractive. Apple, for example, is moving some of its manufacturing to India.

Reset and rethink your business strategy
There has been an unprecedented degree and speed of change in many aspects of business, including customers, employees, and technology. We’re only beginning to understand some of these changes. Many companies are starting to think about their strategy and asking important questions: Will our strategy fit the new normal? What are the emerging opportunities, and how can we position ourselves to take advantage of them? Do we have the needed capabilities and core competencies? Is our value proposition still relevant? If not, how should we adjust it?

Post-Pandemic Readiness Assessment
“You don’t know what you don’t know.”

“You can’t manage what you can’t measure.”

“A goal without a plan is just a wish.”

These familiar sayings can quickly be overlooked given the current environment, but successful change management starts with a measurable plan. One way to emerge stronger post-pandemic is to understand where you are today and where you want to be. Your current state is probably very different than it was just six months ago. After reviewing the points made in the Emerge Stronger Post-Pandemic blog series, business leaders should have a good idea of the areas in which they should focus to prepare for the future. Recently, we worked with a client on their Post-Pandemic Readiness Assessment (see below). The radar chart below (also know as a spider diagram) illustrates the areas they are doing well, and areas that require need attention.

A radar chart is valuable, as it displays many layers of data and compares them in a single, holistic visual. In this example, the four quadrants represent the four areas we identified as critical success factors for emerging stronger post-pandemic. The individual labels in each quadrant reflect activities against which your business can measure. The white line shows where a company aspires to be, according to their business objectives. The shaded orange area represents the current state of the business, according to a specific scale.

As you can see, this company strives to excel in customer experience, but has significant improvements to make in order to get there. The information gained from this exercise will allow your organization to determine where they should prioritize their time, money, and resources to achieve the goals that differentiate them from the competition. In this example, we helped the client develop strategies specific to driving customer growth and enhancing customer experience.

Each organization will have unique strengths, weaknesses, and focus areas, depending on the nuances of the particular industry. For example, a SaaS company likely won’t see a need to diversify its supply chain, so its white line would be closer to the center of the diagram. However, employee engagement and customer experience are definite areas of focus, so the white line would fall toward the outer edge of the diagram, indicating their goal is to achieve excellence in these areas. Conversely, a B2B manufacturer relies heavily on its supply chain and strategy to be competitive.

When completing your post-pandemic readiness assessment, you must be realistic and focused. Your objective is not to excel and invest in all areas, but rather to hone in on areas most relevant to your company’s goals (in light of the pandemic). As with any long-term strategy, you must always be prepared for change and ready to review and pivot as needed. When unprecedented changes occur – like what we’re experiencing now – your goals can often feel like moving targets. You must move and be agile with them.

Preparing for Post-Pandemic
Ultimately, there is no universal, one-size-fits-all solution. The strategy you develop and implement should be based on your company’s unique circumstances, environment, and competitive space. What we’ve outlined here can serve as a guide to help you identify the areas in which you need to focus your efforts. The global economy is still reeling from the pandemic, and widespread recovery is still on the horizon, but now is the time to think about what your company needs to do today to influence tomorrow. Companies that continue to invest in themselves and prepare for recovery are the ones that will be ahead of the competition when we emerge from this pandemic.

Are you ready to rethink and reset your business strategy to emerge stronger post-pandemic? We can work with you to create your own radar chart that is specific to your company’s goals, and develop the right approach to customize actionable steps for your business. Contact us to get started!

About &Marketing

&Marketing provides the robust outsourced marketing department growing companies need without the high overhead costs of big agencies or full-time employees. Our variable model empowers businesses to reach their growth goals through access to the guidance and expertise of senior level strategists and a flexible execution team.

Request a Readiness Assessment

Safety & Personal Protective Equipment – Post-Pandemic

Safety & Personal Protective Equipment – Post-Pandemic

Safety & Personal Protective Equipment – Post-Pandemic

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HOW THE COVIDVIRUS WILL CHANGE SAFETY AND PPE?

Safety and PPE have been at the forefront for governments, health care systems and C-suites across the world. Wearing masks to significantly reduce the spread of COVID-19 has been highly recommend and even mandated. For your own personal protection gloves, hand sanitizers, using cleaning wipes and regular hand washing are essential. Occupational Safety and PPE will continue to be critical as the economy starts to open. A major discontinuity, identified in an earlier article “Emerging Stronger Post Pandemic”, is the heightened awareness and need for cleanliness and hygiene which, experts agree, is likely to continue well beyond the virus.

Rahul Kapur Ex-Chief Strategy Officer, Aearo Technologies (now 3M) Managing Director, Icon Investment Partners Senior Advisor, &Marketing, Crossroad Transactions July 2020

Unprecedented Change

There have been unprecedented changes in the Safety and PPE over the last few months. Many of these are expected to continue as economies around the globe start to re-open – probably in fits and starts as there have been, and will be, local flare ups of the virus. Learning on better treatment of the virus has, thankfully, reduced the number of people passing away. Many of these changes are likely to be more permanent in nature or at least last for several years.
The COVID-19 pandemic has highlighted the critical role of workplace safety – starting with health care but in industries across America and the world. As companies reopen it is important to communicate with returning workers to make them aware of the safety measures in place, how to comply with them and that proper personal protective equipment and general cleaning materials such as soap and hand sanitizer are available. It should be clear who within the company will answer questions that will arise.

OSHA has already published guidelines that include what workers should understand about the virus, https://www.osha.gov/Publications/OSHAFS-3747.pdf. It is offering free on-site consulting for small to mid-size companies.
As per OSHA, health care workers are at the highest risk followed by “workers with high-frequency interaction with the general public” (e.g., schools, restaurants and retail establishments, travel and mass transit, etc.). In many cases office workers are continuing to work-from-home where possible, but others returning to their work sites. Strict protocols need to be in place to these protect these workers, especially those at greater risks such as certain age groups and those with certain health histories.

Safety is More than a Slogan…..it Saves Lives

OSHA Guidlines

Employers should ensure that their workers understand:

  • Differences between seasonal epidemics and worldwide pandemic disease outbreaks;
  • Which job activities may put them at risk for exposure to sources of infection;
  • What options may be available for working remotely, or utilizing an employer’s flexible leave policy when they are sick;
  • Social distancing strategies, including avoiding close physical contact (e.g., shaking hands) and large gatherings of people;
  • Good hygiene and appropriate disinfection procedures;
  • What personal protective equipment (PPE) is available, and how to wear, use, clean and store it properly;
  • What medical services (e.g., vaccination, post-exposure medication) may be available to them; and
  • How supervisors will provide updated pandemic-related communications, and where to direct their questions.

Increased Demand for PPE

Demand for PPE such as masks, gowns, gloves, face shields, cleaning wipes and hand sanitizers has sharply increased since these are the only products that can protect you from contracting the disease till vaccinations are available and herd immunity is built. This will take time. Given the stringent social distancing rules more widespread usage of PPE is crucial. This is especially true as the economy re-opens and if there is a second wave of infections. PPE products will be worn by individuals plus there will be demand by companies as people return to work after the lockdowns. Workplace safety is a major concern and, for now, PPE usage is the only option.

The PPE market is estimated to be $46 billion in 2019 according to a MarketsandMarkets report and should grow to $58 billion by 2022, at a compounded annual growth rate of over 6.5%. https://www.yahoo.com/news/ppe-market-benefits-coronavirus-pandemic-121412766.html

Supply issues around PPE were a major factor in the initial months, especially imports from China. Those that were aggressive in finding supplies gained not only in sales but also their customers’ gratitude.

More and more end-users are approving secondary suppliers and SKUs as part of their Risk Mitigation program as well as setting up monthly meetings with suppliers to get updates on the key product supplies.

A number of companies stepped up to expand manufacturing capabilities and increase production. This includes the traditional safety companies like 3M, Honeywell and Draeger as well as a number of new entrants, many of whom saw the opportunity to help their country in a time of shortage. This particularly includes those with sewing capability, those with the ability to bottle hand sanitizers and companies who could manufacture sophisticated ventilators. Good examples are Eddie Bauer, Nike, American Seating, Graffiti Shield, My Pillow, Jim Beam and even GM & Ford.

Longer-Term Change Expected

Based on my experience working with safety companies, research conducted and perspectives from prominent voices in safety by Safety+Health magazine (https://www.safetyandhealthmagazine.com/articles/19964-the-future-of-safety?page=1) there are four more significant longer-term changes expected:

  • Personal hygiene and area disinfection practices will become a part of the routine for the foreseeable future.
  • Strict protocols and administrative controls will be required & enforced for locations with more than a certain number of people.
  • Company and organizational policies will be needed for activities such as employee travel, sanitizing, disinfecting, additional training requirements and using / leveraging technology for safety.
  • Many PPE companies faced serious problems with their supply chains; particularly those importing from China. Now is certainly not the time for single sourcing. Many are seeking alternatives in Mexico and Central America. Other Far Eastern countries are becoming potential suppliers.

There are likely to be more guidelines developed by the CDC, OSHA, etc. to help organizations deal with this emerging “new normal”.

Beyond these, there will be other changes in occupational safety that business leaders should be considering. These include:

  • More and more companies will improve their Disaster Preparedness Plans starting with an evaluation of how they reacted to this pandemic and what they learned. The pandemics has forced Disaster Preparedness Plans from being “nice to have” to becoming essential.
  • There will be continuing updates to product standards, new workplace protection requirements and guidance, federal and state policy enhancements, and strategic undertakings by the PPE industry and governments to increase preparedness efforts. Following these will be important.
  • With these new guidelines, safety professional will need to ensure that procedures to verify these practices are in place and performed properly. Primary these will include ensuring social distancing and barriers if people cannot meet distance requirements (shields at retail establishments are a good example). Other guidelines may emerge as we gain new knowledge about the virus.
  • Safety training will increasingly go on-line and innovative methods are evolving. Internet training will push beyond clicking a PowerPoint to become more interactive and with live demonstrations. Knowledge checks will be incorporated.
  • There will be safety implications on working-from-home. These are yet are not clear.

Strategic Implications for PPE Providers

So what does this mean for PPE providers as they navigate through these uncertain times? Here are somethings that business leaders should be thinking about.

Fixing disrupted supply chains is mission critical. PPE was not alone. This affected almost every company. 94% of the Fortune 1000 companies reported seeing coronavirus-driven supply chain disruptions (Fortune, 2020). There is increasing discussion on domestic manufacturing of “essential supplies” with PPE near or at the top of the list. While moving completely away from China may be difficult, more diversified supply chains are emerging. Companies are looking at the Far East, Mexico and Central America. Mexico and Central America’s proximity makes them more attractive with lower shipping costs and imports not being on the high seas for four weeks. This is what PwC, AmCham call a ‘China+1’ strategy. https://www.supplychaindive.com/news/coronavirus-companies-expect-china-operations-normalize-under-3-months-pwc/576355/

Selling PPE at Retail and On-line will Exponentially Expand. These channels are becoming more and more important to tap into the consumer demand for masks, gloves, cleaning wipes, hand sanitizers, etc. Sales of these products have exploded on Amazon; even gas stations are stocking them. More and more companies are starting to sell direct from their websites.

The Winners will be Those who Innovate. This creativity can already be seen in face masks where a tremendous range of products are already available. These include colors, designs, logos; many are reusable and there are even copper infused masks that are “breathable with double-layer barrier”.

A number of Covid Safety Kits have been introduced. These include an employee safety kit with a selection of safety products for people returning to the workplace by Arbill; Samsara Luggage globally launched Essentials for Covid for travelers; and Quest Safety Products is introducing kits targeted at several uses.

There have been other recent innovations, including (i) antimicrobial scrubs for medical staff and scrubs with anti-chafe stitching, four-way stretch, articulated knees, and stretch waistbands that enable greater mobility and increased comfort; (ii) antimicrobial respirator masks where silver and copper act as antimicrobial agents that kill and inhibit the growth of bacteria, viruses, mold, and fungus; and (iii) surgical gloves with perforation indicators and a higher level of protection using double gloving.

Maintaining Relationships with New Customers. Many PPE companies, especially distributors, have gained new customers especially where they had much needed supply. Continuing to build these new relationships can be an opportunity for growth. Here a combination of Account Based Marketing (ABM), sales force efforts and Inside Sales programs and help. ABM is a strategic marketing approach that targets a set of customer via digital marketing to build awareness and uses content marketing to build brand image at multiple levels in the customer’s organization.

In Conclusion

Personal protective equipment (PPE) has emerged as the only normal way to step outside when the world is faced with the highly infectious coronavirus. The major trends that are likely to persist are increased personal hygiene and area disinfection practices, strict protocols and controls will be required & enforced where larger numbers of people congregate, policies will be needed for activities where there is employee interaction with the general public, additional training will be required and supply issues will need to be fixed. Retail and on-line sales of selected PPE products to individuals and small businesses will be a more significant opportunity. Innovation, that meets consumer and end-users needs, will be crucial. Finally PPE companies have gained customers in these unprecedented times and should make an effort to build relationships with them.

About the Authors

Rahul Kapur has 40+ years of successful business experience spanning a variety of areas. As a business consultant, he provides companies of all sizes with his expertise in strategy development, M&A, new products & innovation, and data analysis and modeling. His experience includes Unilever, Dow Chemical and Aearo Technologies (now 3M). He is Managing Director of Icon Investment Partners, Chairman of Guilford Group, Managing Member of Ark Capital Investments, LLC, and Senior Advisor for &Marketing, Crossroad Transactions, and Quest Safety Products, as well as on the boards of several start-ups.

About &Marketing

&Marketing provides the robust outsourced marketing department growing companies need without the high overhead costs of big agencies or full-time employees. Our variable model empowers businesses to reach their growth goals through access to the guidance and expertise of senior level strategists and a flexible execution team.

Rethinking & Resetting Your Business Strategy: How Mid-Market Companies Can Emerge Stronger Post-Pandemic

Rethinking & Resetting Your Business Strategy: How Mid-Market Companies Can Emerge Stronger Post-Pandemic

Rethinking & Resetting Your Business Strategy: How Mid-Market Companies Can Emerge Stronger Post-Pandemic

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As the world emerges from the pandemic with unprecedented change, companies are re-opening while following the health guidelines. Many are starting to think about their future and their strategic direction in the light of the emerging new normal and the uncertainty. Is it time for you to Reset Your Business Strategy? Here we present a proven, simplified five step process for rapid value creation so you can emerge even stronger from the pandemic.

Welcome to part five of a five-part series of articles on “Emerging Stronger Post-Pandemic,” which has been specifically developed for mid-market companies. In the first article, we identified several key trends and discontinuities that have emerged from the pandemic (which smart business leaders will see as opportunities) and provided four areas that mid-market companies must focus on to not only survive, but thrive over the long-term. These four areas include:

    The articles in this series spotlight each of these core areas.

    This article presents a framework for mid-size companies to think thoughtfully about their business strategy for the future. Important questions to ask include:

    • Will our strategy fit the new normal?
    • What are the emerging opportunities, and how can we position ourselves to take advantage of them?
    • Do we have the needed capabilities and core competences?

    Almost overnight, companies have had to deal with heightened levels of uncertainty, not just with their immediate customers, but with all of their relationships. In some cases, every level of a company’s ecosystem – suppliers, distributors, customers, end users, competitors, investors, and regulatory influencers – has been impacted, causing a ripple effect. Those who are managing it well and reassessing their entire business approach will set themselves up for long-term partnerships and competitive advantage. Those who have fallen behind risk losing their share permanently and damaging their reputation.

    As McKinsey noted in a recent article, one noticeable characteristic of companies that have adapted well is that they have a strong sense of identity and mission. Leaders and employees have a shared sense of purpose and a common performance culture, and they know what the company stands for beyond shareholder value, and how to get things done the right way.

    A Five-Step Process

    To help create that renewed sense of purpose and rethink and reset your business strategy, we’ve outlined a five-step process that will enable the rapid impact needed for companies to recover quickly. We have implemented this approach with many mid-size companies, and we continue to refine it over time.

    This process will ultimately enable you to create a strategy map that summarizes your business’s refined strategic direction, which will become the rallying cry for your organization. We will show you how to:

    • Determine the state-of-your-business as the new normal emerges
    • Conduct a SWOT analysis in light of the pandemic
    • Align your core competencies and competitive advantage with the discontinuities and major trends that have emerged
    • Prioritize growth opportunities for faster impact

    Want to understand if your setting yourself up to emerge strong post pandemic? Request a readiness assessment today and find out. 

    Step I: Determine the State-of-your-Business as the New Normal Emerges

    A deeper business analysis would include

    • How have profitability and margins changed?
    • What is a realistic cash forecast, with sensitivity analysis? What has been the bad debt?
    • What eliminated costs have to be replaced? Or new costs added?
    • How have customers changed and what are the new dynamics?
    • Has the supply chain been disrupted? Are some suppliers going out of business?
    • Has the supply chain been disrupted? Are some suppliers going out of business?
    • What are your competitors doing?

    At the same time, this deeper analysis should also identify the major trends and discontinuities that have impacted your business, remembering that, as Warren Buffet said, “It is easier to ride the horse in the direction the horse is going.”

    In the first post of this series, we did some of the work for you by identifying the major trends and discontinuities emerging from the pandemic. Here, you should think about the significant changes in the macro-environment that impact your specific competitive space. Do the identified discontinuities apply? Are there others impacting your business? You want to take advantage of these where you can.

    Some real-life examples of significant actions companies are taking include: Apple and many other companies who are making changes to their supply chains; retailers who are investing in building online sales; the expansion of home delivery; and companies who have implemented consistent virtual meetings (among others). Very few businesses have not been affected.

    Step II: Update SWOT Analysis in Light of the Pandemic

    Based on the above, the second step is developing a SWOT analysis. Most companies have one, but given the tremendous change taking place, it should be updated. The business analysis and major trends/discontinuities we identified in the first article form the cornerstone for your SWOT Analysis, which can be very revealing. You can quickly hone in on strengths, weaknesses, opportunities and threats by bringing together an expanded management team. This team should include senior technical experts and commercial leaders in your company. You can add outside experts who can bring additional insight to your team.

    A starting point is to have each participant in the exercise come up with their own SWOT. These can be collected and collated. In a group session, brainstorm and add to/refine the list, and the prioritize as follows:

    • What are our most critical strengths versus competitors? Which strengths can be leveraged in the emerging “new normal?”
    • Which weaknesses and threats need to be addressed?
    • Classify opportunities as A/B/C?

    Step III: Define Competitive Advantage Based on Core Competences

    We have found that this is a critical step where you clearly define, in detail, your competitive advantages. We believe that a core competencies-based approach is a very effective way of doing this, as it clearly differentiates you from the competition.

    Dr. Gary Hamil and Dr. C. K. Prahlad from the London School of Economics defined core competences as functionality in your products or services that are important to customers, and are based on “What do we do as well or better than … competitors.” This integrates technical platforms, know-how (including patents), skills, processes, company values and culture to help you deliver superior value for customers. As Peter Drucker said “Don’t take on things that you yourself are not good at. Learn to say no. Effective leaders match the objective needs of their company with their subjective competencies. As a result, they get an enormous amount of things done fast.” Pursuing opportunities based on core competences will not only enable faster implementation, but will also enable more success over the longer-term, as they areas are more difficult for competition to copy.

    We suggest a relatively straight forward process to define your core competences. It starts with collecting skills, capabilities, know-how, technologies, processes, etc. where you believe you are equal to or better than competitors. It determines whether these provide functionality in your products or services that are important to customers. These should be difficult for competitors to copy. A good question to ask yourself is, “Why do customers buy my products or services?” There are defined tests to determine whether a candidate is truly a core competence that can become a competitive advantage. For example, a core competence usually enables a business to charge a premium or make a higher margin.

    Request a Readiness Assessment

    Step IV: Prioritize Opportunities and the Investments Needed for Rapid Impact

    This step involves generating an opportunity list and screening these opportunities to see if they fit with your core competences and the emerging trends from COVID-19, and then prioritizing these based on size versus difficulty. The opportunity list should include (i) growth opportunities, (ii) opportunities for margin improvement through actions such as pricing, cost and supply management as well as (iii) partnerships and add-on acquisitions.

    Building on the preliminary opportunities from the SWOT, we recommend additional examination and insight to develop a complete and robust opportunity list. Consider both internal and external experts to drill deeper across three areas for growth opportunities:

    • Products and services
    • Target customers and channels
    • Geography

    See the illustration for starting questions in each of these areas. Be sure to include your operations teams to examine opportunities for correcting disruptions, cost savings, and supply management.

    In the opportunity list, you should include both partnerships and add-on acquisitions, especially since, unfortunately, many competitors – especially smaller ones – are unlikely to survive. This may be a faster way to get growth, enhance/add to core competences, improve your supply chain, and/or become more efficient.

    The first screen for the identified opportunities is “do they fit and leverage your core competences?” This is important since growth underpinned by core competences can be achieved faster and is more sustainable since they are more difficult for competitors to copy. Plus, you want to focus on opportunities that better fit the emerging new normal and the trends and discontinuities impacting your business from COVID-19.

    In the opportunity list, you should include both partnerships and add-on acquisitions, especially since, unfortunately, many competitors – especially smaller ones – are unlikely to survive. This may be a faster way to get growth, enhance/add to core competences, improve your supply chain, and/or become more efficient.

    The first screen for the identified opportunities is “do they fit and leverage your core competences?” This is important since growth underpinned by core competences can be achieved faster and is more sustainable since they are more difficult for competitors to copy. Plus, you want to focus on opportunities that better fit the emerging new normal and the trends and discontinuities impacting your business from COVID-19.

    Once you have screened for core competences as well as trends and discontinuities, we recommend prioritizing them using a 3X3 Opportunity Prioritization Matrix, based on the size of opportunity (sales/margin) and the difficulty of achieving (time needed, resources, capital, etc.). This should be tailored to your company’s specific circumstances. Focus on opportunities that are medium to high on size (sales or margins), but low to medium on difficulty of achieving. You certainly want to quickly pursue large opportunities that are relatively easy – if any emerge. This approach will have a greater and faster impact on your business. At the same time, we have found that you should expend some effort (we recommend 15% to 20% of resources) on larger opportunities that are more difficult or will take longer to achieve, choosing those that can have the greatest impact on your company’s future success.

    Ultimately, this approach will focus your company on opportunities that are meaningful. Plus, it enables a better allocation of usually scarce resources, as you identify the investments needed as part of the “difficulty in achieving.”

    Step V: Develop Strategy Map to Focus on 4 to 6 Key Strategies

    Next, develop a one-page strategy map that focuses on four to six areas that are most important to your company’s future over the next two to three years. This should clarify and summarize your strategic direction:

    • Highlights the vision/mission and lays out high level financial goals
    • Identifies key maneuvers, i.e. what needs to be done externally to fulfill the vision and achieve the financial goals looking at products/services, target customers/channels and geography? These are derived from the Opportunity Prioritization above.
    • Identifies the key means: what are the key actions to be taken, such as investments in people and capital, new processes to be set up, added capabilities identified, etc.
    • Use this to inform a strategic financial plan.

    This strategy map should become a rallying cry for your company and serve as an opportunity to pull everyone in your company in the same direction toward a common goal. Within that, functions and departments can focus on what they need to do specifically to deliver on your strategy.

    Examples

    Based on what companies are already doing, certain directions have emerged. You should consider how these may be useful for you to consider, and how they impact your business model.

      • Go contactless. Leverage the technology available, from the office and manufacturing to operations and customers.
      • Be more digital, data-driven, and in the cloud. Deploy more automation and artificial intelligence to better manage operations.
      • Have more variable cost structures where possible.
      • Create stronger capabilities in e-commerce.
      • Develop more resilient supply chains to manage future disruptions. J-I-T may now be more difficult.
      • Pursue new or emerging target groups.

    Some specific examples of how organizations have adapted their business models and strategies to the new realities of the pandemic include:

    1: A car-rental company. With dramatic declines in sales, they found new potential target groups, such as tech firms, who were instructing employees not to use public transportation.
    2: Telehealth Doctors Healthcare providers have changed their business model, which is likely to remain intact even after the pandemic ends, as patients get acclimated to this form of interaction. France, South Korea, and the U.S. have all changed regulations to ease access to telemedicine.

    • Teladoc Health, the largest independent U.S. telemedicine service, is adding thousands of doctors to its network, according to the Wall Street Journal.
    • Sweden’s KRY International, one of Europe’s biggest telehealth providers, noted a 200% increase in registrations.

    3: Educational Organizers:They continued their mission by holding classes online and worked with students to continue to provide services. Virti, which has a virtual platform for training healthcare professionals, has already been deployed by 14,000 US healthcare professionals (through May).

    In Conclusion

    Ultimately, there is no universal, one-size-fits-all solution. The strategy you develop and implement should be based on your company’s unique circumstances, your environment and your competitive space. What we’ve outlined here can serve as a guide to help you through the process.

    Are you ready to rethink and reset your business strategy in light of COVID-19? Let us know if you have any questions or if we can assist you in developing the right approach to customize these steps for your business. We have learned to do this in as little as three months, with limited resources.

    To continue to deepen relationships, ensure you’re creating content that connects. For help doing this, download our eBook

    In a recent &Marketing webinar we dove deeper into the resulting business trends from COVID-19 and the necessary actions mid-market companies should take to build and sustain long-term growth. Watch the entire webinar below!

    About the Authors

    Rahul Kapur has 40+ years of successful business experience spanning a variety of areas. He served as Chief Strategy Officer at both Aearo Technologies (now 3M) and Dow Brands (a division of Dow Chemical). As a business consultant, he provides companies of all sizes with his expertise in strategy development, M&A, new products & innovation, and data analysis and modeling. He has helped nearly 20 companies develop their strategy to transform their businesses, using Icon Investment Partners’ proprietary business transformation system. Currently, he is Managing Director of Icon Investment Partners, Chairman of Guilford Group, Managing Member of Ark Capital Investments, LLC, and Senior Advisor for &Marketing, Crossroad Transactions, and Quest Safety Products, as well as on the boards of several start-ups.

    Robert Olsen is a Marketing Expert, Speaker and Consultant with a unique combination of Management Consulting and C-suite experience in chemicals and life sciences.  He is an experienced Chief Marketing Officer, and has also served as Corporate Marketing Director at DuPont and a Strategy and Operations Consultant at Deloitte.  Robert helps companies grow, utilizing his expertise in marketing, sales, and innovation to navigate major changes and new programs including M&A, brand building, and culture transformations. Robert is passionate about creating a better customer experience and employee culture to drive business results.

    About &Marketing

    &Marketing provides the robust outsourced marketing department growing companies need without the high overhead costs of big agencies or full-time employees. Our variable model empowers businesses to reach their growth goals through access to the guidance and expertise of senior level strategists and a flexible execution team.

    Restructuring Disrupted Supply Chains: How Mid-Market Companies Can Emerge Stronger Post-Pandemic

    Restructuring Disrupted Supply Chains: How Mid-Market Companies Can Emerge Stronger Post-Pandemic

    Restructuring Disrupted Supply Chains: How Mid-Market Companies Can Emerge Stronger Post-Pandemic

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    Welcome to part four of a five-part series of articles on “Emerging Stronger Post-Pandemic,” which has been specifically developed for mid-market companies. In the first article, we identified several key trends and discontinuities that have emerged from the pandemic (which smart business leaders will see as opportunities) and provided four areas that mid-market companies must focus on to not only survive, but thrive over the long-term. These four areas include:

    The articles in this series spotlight each of these core areas.

    This article addresses the steps mid-market companies should take to manage disrupted supply chains, an area that has affected almost every company (94% of the Fortune 1000 companies have reported seeing coronavirus-driven supply chain disruptions). We explore both the immediate steps, as well as some of the more intensive, strategic issues that businesses will have to address in both the near and long-term future.

    Key Supply Chain Issues

    As the country begins to ‘reopen,” all of your vendors may not. Imports have stalled, especially from China. New vendors may require cash on delivery. Many smaller companies have had to shut down operations for these reasons, and over a third may not survive. A decade or two ago this scenario would have been less of an issue, as most businesses mainly operated closer to home. But today, companies have gone global, with significantly more offshore business and supply chains that extend around the world.

    Single-sourcing is no longer a solution. When supply chains are disrupted, those who single source suffer. There are numerous examples of where this has become an issue – like the many PPE and medical supply companies who have learned this the hard way. In the solar energy space, electronics, computers, and other technology arenas, supply chain disruptions have been significant, as China supplies most of the solar cells to the world.

    Another example is a manufacturing company that has 15 production sites, where some of their materials and technologies are single-sourced. They have faced hardships, not only because of the pandemic, but also due to natural disasters and strikes.

    There is increasing discussion around manufacturing “essential supplies” domestically. This has become more and more important for PPE, medical supplies, and other “essential” products. Being on the high seas for weeks also does not help! While moving completely away from China will be difficult – especially for highly specialized products and components – diversified supply chains are emerging. Many U.S. businesses are looking at the Far East, Mexico, and Central America for additional suppliers. Apple is moving a part of its supply chain to India. Indonesia has made dramatic changes to become more “business friendly.” Mexico and Central America’s proximity makes them more attractive, with lower shipping costs and imports that aren’t on the high seas for weeks at a time. This is what PwC and AmCham call a ‘China+1’ strategy.

    Immediate Steps

    Identify items at risk in detail. Overall, companies need to granularly identify the items that are at high-risk and develop a realistic plan for moving forward. In addition, they need to be more flexible and agile, with greater visibility to suppliers and easier processes for onboarding new ones.

    According to McKinsey, “Actions taken now to mitigate impact on supply chains can also build resilience against future shocks.” This includes reviewing bills of materials (BOMs) and catalog components to identify those that are sourced from high-risk areas and lack ready substitutes. McKinsey recommends first developing a risk index for each commodity, based on uniqueness and location of suppliers, followed by a realistic action plan. You must develop longer-term relationships with multiple suppliers, including domestic manufacturers.

    Document and map supply chains to enable a sound go-forward strategy. Many supply chain and sourcing managers have formalized, documented commodity strategies for high-spend areas and critical raw materials and components. For each item sourced, be sure to include:

    Without data, you’re just another person with an opinion

    W. Edwards Deming

    • Annual usage, volume and spend with historical, current, and future requirements;e
    • Current supply base by spend and volume, whether domestic or imported;
    • Current and potential suppliers of the commodity with their locations, annual capacity, and domestic and global supply;
    • A supplier scorecard so that, in a crisis, you have data to understand potential problems with suppliers;
    • Material cost drivers of the raw material and historical costs, and a SWOT analysis of the commodity category and your current situation with your suppliers (i.e. expiring agreements, no agreement, volume commitments, exit clauses, favored nation clauses, etc.);
    • Because your volume is small, if buying from Distribution, track all the way back to the original equipment manufacturers (OEMs). As your volume grows, you may be able to go direct and get a better price.

    The information outlined above should culminate in a go-forward strategy that includes business interruption tactics, and you should periodically test the waters by getting bids from a number of companies. This data will be valuable in a crisis, similar to when U.S. tariffs were put in place. Here, you should look at “landed cost” and include the cost of money for incremental in-transit and material storage when sourcing from alternative suppliers.

    With more complex supply chains, it may be worthwhile to do limited mapping, and document the supply chain from raw material to finished products. This process entails engaging across companies and suppliers to document the exact source of every material and every process involved in bringing goods to market. It is complex, as it traces a product all the way from its raw materials. This approach was first developed at MIT in 200,8 and became easier and more accurate with online maps and the social web. They have also made retrieval and updating easier.

    Capture immediate cost reductions. Finally, you should capture immediate cost reductions during a period of turmoil, such as lower freight rates due to excess capacity, lower prices as demand has dropped sharply, etc.

    Want to understand if your setting yourself up to emerge strong post pandemic? Request a readiness assessment today and find out. 

    The Future May be More Complex

    Once you handle the more immediate actions, below are areas you must start to consider, some of which many companies have already started to implement.

    Recognize that building a new supply chain will take time and effort. Your problems may be more severe if your supply chain is international. What should you do about disruptions in the future? Many companies are looking to multi-source and, where possible, are looking to manufacture closer to home. Mexico and countries in Central America, while more expensive, are advantageous because of free trade agreements and shorter supply chains.

    Simplify and hasten the onboarding process. Many companies have realized they need to onboard new suppliers more quickly and make the process less complicated, especially for more critical parts, components, or ingredients. With or without a pandemic, you must have a well-documented but simpler and more flexible Standard Operating Procedure (SOP) for onboarding suppliers.

    Don’t mark China off completely. A defining issue for many manufacturers in the “new normal” will be developing supply chain resilience and considering options beyond China. This is indeed important as we must recognize that China will still remain attractive as a manufacturing location. There is unlikely to be a clean break. Though for some labor intensive sectors, like apparel, it will be faster and easier, as many have already moved to Vietnam, Cambodia, and India, based on rising labor costs in China. However, for higher value-add businesses, like technology, consumer electronics, and pharmaceutical ingredients, China has built great capabilities, making their partnership more difficult to replace.

    With more complex supply chains, it may be worthwhile to do limited mapping, and document the supply chain from raw material to finished products. This process entails engaging across companies and suppliers to document the exact source of every material and every process involved in bringing goods to market. It is complex, as it traces a product all the way from its raw materials. This approach was first developed at MIT in 200,8 and became easier and more accurate with online maps and the social web. They have also made retrieval and updating easier.

    Be conscious of the growing demand in developing markets. For more global companies, a second issue is the growing demand in developing countries. McKinsey estimates that “emerging markets will consume almost two-thirds of the world’s manufactured goods by 2025, with products such as cars, building products, and machinery leading the way.” This will impact the approach to revamping supply chains so that they’re closer to their end markets.

    Technology businesses must realize that this process will be more difficult for them. For most companies – even the Fortune 500 – to possess all the skills and competences necessary to be vertically integrated, many focus on the competences that give them their competitive advantage. Therefore, they have increasingly turned to specialists and subcontractors who narrowly focus on one area and are found in specific geographic regions. Smartphones, medical equipment, precision instruments and even desk lamps with LEDs are made in high-tech factories with specialization, sophisticated tools, and highly trained people. Further, the suppliers of such products may in turn depend on many others to provide sub-systems.

    Basically all of the world’s computer parts come from the same supply chain that runs from Korea, down through coastal China, over to Taiwan, and down to Malaysia 

    Thomas Friedman

    Know that cost and capital will be key drivers. The global supply chains we find today (particularly in the Far East) have been built to deliver cost reduction and increasing efficiencies. This complex manufacturing-and-delivery system that provides products at relatively low cost has taken decades to evolve and will be difficult to replace.

    Countries themselves have started to specialize, such as India in IT, Taiwan in consumer electronics, Singapore in chemical compounds, and Ireland in medical equipment. Supply chains are tiered with automakers dealing primarily with first-tier suppliers, who in turn manage a second and even third tier. Even N95 masks made in the U.S. by 3M uses “globally sourced materials.”

    The issues are more complex in many high-tech cases, where the capital investment needed to build and equip plants can be several billion dollars. These plants, in turn, can be dependent on a variety of suppliers for components and parts.

    Lean manufacturing has resulted in low inventory in the system, which, with a pandemic, can result in shortages more quickly. Many business leaders (see the CFO survey below) are increasing inventory levels.

    One thing to remember is that, if tensions with China escalate (for a variety of possible reasons), so will the chances of renewed tariffs.

    Potential Steps to Start Reducing Risk

    While building more resilient supply chains will take time, a healthy supply base is a top priority, based on a PwC survey of CFOs. Here are some steps they are either already implementing or considering. This may help you consider alternatives that fit your business.

    Technology businesses must realize that this process will be more difficult for them. For most companies – even the Fortune 500 – to possess all the skills and competences necessary to be vertically integrated, many focus on the competences that give them their competitive advantage. Therefore, they have increasingly turned to specialists and subcontractors who narrowly focus on one area and are found in specific geographic regions. Smartphones, medical equipment, precision instruments and even desk lamps with LEDs are made in high-tech factories with specialization, sophisticated tools, and highly trained people. Further, the suppliers of such products may in turn depend on many others to provide sub-systems.

    • Multi-shoring to reduce risks (this is the most common approach thus far).
    • Carrying higher inventory with the associated increase in warehousing space.
    • Building longer-term business relationships with fewer suppliers, reframing them as strategic partners and leveraging their capabilities.
    • Regionalizing production in distinctive areas such as North and Central America, the European Union, and Asia-Pacific.
    • Leveraging automation to improve the speed and accuracy of decision-making, with a focus on automating data collection and analysis of supply chain effectiveness (PwC).

     

    In Conclusion

    To ensure you are one of the businesses that makes it to the other side of this pandemic, you must seize this moment in history as an opportunity to assess your supply chains and take action to improve your resilience moving forward. As a start, identify – at a detailed level – the products and materials that are at high risk, and develop a realistic plan going forward. Longer term, some steps you must consider include:

    The pandemic has been and will continue to be a major shock to global supply chains and sourcing strategies
    Harvard Business Review

    • Diversify your sources for critical components and materials. This includes geographic diversification, partnering with the same supplier, or using secondary sources when feasible. If you are highly dependent on China, consider the China+1 strategy.
    • Build higher levels of safety stock or strategic inventory reserves. Higher inventories of, at the least, critical raw materials and even finished goods can make sense, especially for “essential” items.
    • Do not single source, especially for high risk items. Build partnerships with a few suppliers. In addition to reducing disruption risks, this can have additional benefits such as access to more capabilities, more ideas for cost reductions, product improvements and even new products by leveraging these partnerships.
    • Ensure that transportation is not a bottleneck. This is one reason companies are looking to have supply options closer to home.
    • Leverage Governments subsidizing extra capacity or stockpiling for critical items. This could be similar to the US oil reserves of the past.

    The COVID-19 pandemic and trade wars have together highlighted the brittleness of our global supply chains and trading systems, reminding businesses that the risk of an unexpected, disruptive event is ever-present. Managers should heed the lessons, be proactive in their planning, build more resiliencies into their operations, increase visibility, and create processes that are easier to manage.

    As we continue to work our way through and eventually emerge from this pandemic, the words from DuPont’s CEO following the 2008 financial crisis should resonate:

    The death of globalization and world-encompassing supply chains has been foretold so often that it is hard to imagine it might actually be happening
    Financial Times

    “There is no playbook for what the world is experiencing right now,” Kullman said. She went on to note, though, that during its 207-year history, DuPont had already innovated through downturns. “None of that happened by accident. It took leaders who had a vision and were absolutely determined to not waste a good crisis. We must be prepared not for the world the way it was before …. but prepare to succeed in the very different world that we’ll encounter when the recovery eventually comes”.

    In a recent &Marketing webinar we dove deeper into the resulting business trends from COVID-19 and the necessary actions mid-market companies should take to build and sustain long-term growth. Watch the entire webinar below!

    About the Authors

    Rahul Kapur has 40+ years of successful business experience spanning a variety of areas. As a business consultant, he provides companies of all sizes with his expertise in strategy development, M&A, new products & innovation, and data analysis and modeling. His experience includes Unilever, Dow Chemical and Aearo Technologies (now 3M). He is Managing Director of Icon Investment Partners, Chairman of Guilford Group, Managing Member of Ark Capital Investments, LLC, and Senior Advisor for &Marketing, Crossroad Transactions, and Quest Safety Products, as well as on the boards of several start-ups.

    Robert Olsen is a Marketing Expert, Speaker and Consultant with a unique combination of Management Consulting and C-suite experience in chemicals and life sciences.  He is an experienced Chief Marketing Officer, and has also served as Corporate Marketing Director at DuPont and a Strategy and Operations Consultant at Deloitte.  Robert helps companies grow, utilizing his expertise in marketing, sales, and innovation to navigate major changes and new programs including M&A, brand building, and culture transformations. Robert is passionate about creating a better customer experience and employee culture to drive business results.

    Jim Floyd has over 30 years of successful business experience in general management, supply chain management, and international operations at organizations such as Proctor & Gamble and DowBrands, Aearo Technologies (now 3M), and Icon Investment Partners. Jim has helped a number of companies improve their supply chains, both by improving their efficiencies, and helping them reduce costs.

    About &Marketing

    &Marketing provides the robust outsourced marketing department growing companies need without the high overhead costs of big agencies or full-time employees. Our variable model empowers businesses to reach their growth goals through access to the guidance and expertise of senior level strategists and a flexible execution team.

    Webinar Recap: How Mid-Market Companies Can Emerge Stronger Post-Pandemic

    Webinar Recap: How Mid-Market Companies Can Emerge Stronger Post-Pandemic

    Webinar Recap: How Mid-Market Companies Can Emerge Stronger Post-Pandemic

    Written By

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    Is your business ready for the “new normal” post-pandemic?

    Most mid-market companies have taken the right immediate actions in response to the coronavirus outbreak: They’ve followed health and safety guidelines in their workplaces, cut costs, and taken out loans and grants. However, the changes in customer and employee behaviors and attitudes are so deep that companies must reexamine how they do business, and ensure it fits the emerging “new normal.” 

    For most mid-market companies, things will never go back to what they were, and strategies that worked in the past may no longer apply. Smart leaders will seize these changes as opportunities to become stronger and more competitive. 

    Our last webinar focused on identifying and examining the new business trends that have emerged as a result of COVID-19, and how to leverage these changes as opportunities to adapt your business and sustain long-term growth. Amanda Cook hosted our panelists, who shared their valuable insights based on decades of experience in the trenches dealing with these issues:

    • Rajat Kapur, &Marketing’s Managing Director
    • Bob Olsen, who brings decades of marketing leadership and change management experience from DuPont, FXI, and Deloitte Consulting

    • Rahul Kapur of Icon Investment Partners, who brings 35+ years of business transformation experience

    During the webinar, we learn:

    • The key business discontinuities and changes that have emerged from COVID-19 and the opportunities they present
    • The key areas that require immediate attention from mid-market companies, and the actions they must take to sustain long-term growth:

      • Redefine the customer experience
      • Revive relationships with employees 
      • Restructure your supply chain
      • Rethink and reset your strategy 

    Couldn’t make it live? Watch the webinar recording to hear the valuable insight on these business leaders shared on the emerging trends we are seeing today.

    Are you ready to rethink and reset your business strategy to emerge stronger post-pandemic? We can work with you to create your own radar chart that is specific to your company’s goals, and develop the right approach to customize actionable steps for your business. Contact us to get started!

    About the Authors

    Rajat “Raj” Kapur is the founder and Managing Director of &Marketing. He strives to provide growing businesses of all sizes unparalleled marketing strategy and execution services. Raj brings two decades of professional experience in marketing, sales, and strategy development experience spanning B2B and B2C Fortune 50, mid-sized, and startups.

    Robert Olsen is a Marketing Expert, Speaker and Consultant with a unique combination of Management Consulting and C-suite experience in chemicals and life sciences.  He is an experienced Chief Marketing Officer, and has also served as Corporate Marketing Director at DuPont and a Strategy and Operations Consultant at Deloitte.  Robert helps companies grow, utilizing his expertise in marketing, sales, and innovation to navigate major changes and new programs including M&A, brand building, and culture transformations. Robert is passionate about creating a better customer experience and employee culture to drive business results.

    Rahul Kapur has 40+ years of successful business experience spanning a variety of areas. As a business consultant, he provides companies of all sizes with his expertise in strategy development, M&A, new products & innovation, and data analysis and modeling. His experience includes Unilever, Dow Chemical and Aearo Technologies (now 3M). He is Managing Director of Icon Investment Partners, Chairman of Guilford Group, Managing Member of Ark Capital Investments, LLC, and Senior Advisor for &Marketing, Crossroad Transactions, and Quest Safety Products, as well as on the boards of several start-ups.

    About &Marketing

    &Marketing provides the robust outsourced marketing department growing companies need without the high overhead costs of big agencies or full-time employees. Our variable model empowers businesses to reach their growth goals through access to the guidance and expertise of senior level strategists and a flexible execution team.