Second-order effects (or consequences) can impact your business and result in massive changes in your business model or operations. If people avoid physical proximity what are the implications that are harder to see at first?
In this video, I continue the theme of adapting to changes this year. The previous video questioned whether you still have a business model. This one tackles the issue of second-order consequences that are harder to pinpoint. I wrote about the topic more extensively in the spring (about second-order effects and about physicality).
00:00 Changes in your business environment
00:39 Business implications
01:51 Second-order consequences
02:21 An example of second-order consequences
04:49 Reasons why you don’t have customers anymore
06:28 Adapting to the new situation
07:56 Bonus – why this topic?