Although small businesses typically face more difficulties than larger-scale companies due to their limited resources, employees, and revenue, it is possible that small businesses may have a substantial advantage in the coming post-COVID era. This possibility was introduced by Lorerra Green-Williams, a CEO of a consulting firm and founder of a fashion magazine, during her discussion with Francesco Rulli, Global CEO of Querlo.
Loretta is the founder and CEO of LGreen-Williams consulting, a company that evolved though the desire of small companies to grow their entities. LGreen-Williams consulting helps these businesses increase revenue-based growth by helping develop departments and providing a direction for their revenue and infrastructure. Loretta is also the co-founder of Caribeme Magazine, a fashion-forward lifestyle magazine for women within the African Diaspora. The purpose of this magazine, as Loretta described it, is to add a platform for discussion for the fashion, beauty, and lifestyle of Diaspora culture women.
Loretta is a member of a smaller business and recognized the advantage she, and other small businesses will have in the coming months once large-group gatherings became restricted. Small companies are in a position where they can continue to work the way they always had, while large companies will need to work in the physical absence of the majority of their team.
In terms of the direction the fashion and beauty industry will go in during the post-COVID era, Loretta believes that they might go back in the “couture direction”. In the 1940s and 1950s, there used to be “couture houses” where small groups of people could work closely with one another. This would be a safe, effective, and fun way to continue to develop fashion, Loretta remarked.
Another aspect of the post-COVID era Loretta noted will become crucial for the success of all businesses is the implementation of Artificial Intelligence solutions. She began, “I think it/s going to be absolutely critical. There is no way businesses are going to be able to sustain themselves without AI.” The biggest challenge companies will face when transitioning to AI is ensuring that they have what Loretta referred to as an “economic base”—ensuring that they have enough revenue to create a large work frame and have the business sustainability they need. However, once they do this, Loretta believes it will put them ahead in the moment, and in the future. She commented, “It will not happen in today’s society. Those who come in with the most prolific framing are the ones who will be able to stay on top.”
To learn more about Loretta’s perspective or other aspects of her companies, the best way to contact her is through LinkedIn. You can also contact her through her website, Caribememag.com. She said that she is always open to discussions.