Many companies and business owners have curated long-range plans concerning their business’ future and their company goals. However, with goals or plans that are shorter in duration, they allow a business to be more flexible to changing circumstances.
Adapting to Change
Change in the business world, and the world in general, happens so fast; and this was proven when the coronavirus pandemic hit. Needless to say, even if a company had some kind of back up plan in place for a disaster, most strategic plans did not have a pandemic situation built into it.
For those in the death care industry, adjusting to the changes caused this year by COVID-19 has been very much a case of “going with the flow.” Services are commonly outdoor and social distanced, drive by visitations are in place as well as technology-driven and virtual services have been implemented. All of this as a way to maximize revenue and provide families with a similar sense of closure they had prior.
We cover the many ways in which professionals of the funeral industry are adapting to such changes in our previous blog, “The Many Ways Funeral Homes are Adapting to Social Distancing Guidelines.” Statistical rises since the COVID-19 pandemic, and more, are also discussed in our blog, “Changing for the Future: First Responder Funeral Directors Propel Forward.”
Advice & Questions to Consider
Here, we have included advice from Tom Anderson of Funeral Director Daily: “So, while your long-term plan may be to own five funeral homes over the next twenty years, what do you want to get accomplished next year[?] Certainly, we have seen some changes in this pandemic year. . .which will stay, which will go. . . . how has this affected my competition or my own profitability? Those are questions that you should be thinking about, not for the long strategic term, but right now for the short-term.”
Anderson also includes a list of funeral industry trends to consider:
- Client families will continue to have less full service funerals or cremations
- Technology will continue to evolve and play a bigger role in death care choices and arrangements
- Interest rates will continue to be low
- Increased revenue per case may be hard to come by
- The pandemic has made younger aged people think about their mortality
To hear more of Anderson’s recommended solutions in the short-term, see the full article here.
Source Name: Funeral Director Daily
Source URL: http://funeraldirectordaily.com/are-you-ready-for-2021-ready-set-buy/