Revival & Survival: We expect business to get back to usual intensity in 12-15 months

Prepared or not, India has to gear up for an exit strategy for the lockdown period. It is definitely a changed world that India is entering now, and we will have to learn to live with the Coronavirus in our midst.

A lot has been written, debated and discussed over how much the economy and business operations have been hit. We, at Adgully, aim to look at the revival story. What does it take to jumpstart an economy? That is the great narrative that we are following up as part of our ‘Revival and Survival’ series.

Ashwini Deshpande, Co-founder, Director, Elephant Design, feels that within the creative services sectors, there could be some consolidation and players that had previously survived without adding much value to their clients’ businesses will have to recalibrate to make sense.

What does the new normal look like? How much has the COVID-19 crisis disrupted business operations?

I don’t quite know what the new normal is going to be.

However, design is all about exploring new possibilities within constraints and arriving at feasible solutions. While the magnanimity and persistence of the current challenge may be unprecedented, we are trained to navigate uncertainty and ambiguity as design professionals. So, that part is not new.

Working from home has been quite seamless for our team. But not so much for all the clients. Managing supply chains, continuing manufacturing and operating logistics has been hugely impacted. Clients from FMCG and Pharma continue to manage some turnover, but appliances, hospitality, retail, sporting events & automobile industries have gone through complete lull in the last two months. This has had a negative impact on our business as well. Some projects are paused, some are cancelled and new ones are being planned with extreme caution in terms of budgets.

What should be the blueprint for a post-COVID-19 economy?

I look at these times very differently. Now is not the time to focus on profits. Our cashflows and survival are important, but at the same time we also need to do everything possible to help others tide over this challenging time. Survival of ‘design’ sector and survival of clients who believe in the power of design is the only way to ensure a better future.

Building sustainable relationships is perhaps the best plan. Purpose over profit is the need of the hour.

What are the 5 key measures needed to ensure a speedy business revival for the Design & Communication industry?

1. Keep your mind open to absorb the changes
2. Be ready to change your offerings & services using current resources
3. Be agile to turn every possibility into an opportunity
4. Shed the flab – literally & figuratively because there is no place for stuff that does not add any value
5. When you ask someone how they are, wait and listen. Empathy is just the beginning.

How are you strategising for the remaining quarters of this Financial Year 2021?

We will concentrate on opportunities with existing client base to minimise time & efforts for converting new business. We have already revised our targets to align with the current downturn all around. We will strive to meet those by keeping a close watch on a weekly basis.

How do you see businesses and the Government working together to undo the lockdown disruption and address the market uncertainties?

I believe the Government has many challenges at hand. Health and well-being of every member of the society has to be the priority at this time. Large and experienced businesses that have reaped profits for several years should not be looking at the Government for any help. On the contrary, they should be in a ‘giving’ mode this year. The real concern is with the small businesses that depend upon daily collections for their survival. Also, the start-ups that are in a pre-funding stage. If the Government takes an empathetic stance for these two sections as well as the highly impacted creative services industry, it will go a long way.

How do you visualise the economy and your sector a year later? How much would it have recovered by then?

How the economy will pan out in a year is anybody’s guess.

Specifically within the creative services sectors, there could be some consolidation and players that had previously survived without adding much value to their clients’ businesses will have to recalibrate to make sense. Budgets for NPD as well as marketing will definitely be lower than earlier years.

In design consulting, all those who have de-risked by having clients from multiple domains are in an advantageous position as they continue to get business. We expect the business to get back to usual intensity in 12 to 15 months.