They say that this will not be the first time in our lifetime that we experience a pandemic of this magnitude. While the world as a whole was not effectively affected by the MERS-CoV and SARS viruses, the SARS-CoV-2 is a little bit different. It is too easy to transmit, and asymptomatic carriers can infect people. Before we knew it, the world was on lockdown, businesses were closing, and societies were in disarray. And there you are, a businessman who needs to find a footing in this strange new world. How do you move on?
The first order of business is to look at your website. Oops, you don’t have a website yet? Then, it’s time to call a website development and SEO company and invest in a well-designed and well-optimized site. If your business has any chance of surviving and thriving at all during this pandemic, you should have a website that potential customers can visit and learn from.
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Increase Revenue Through Online Sales
Since there should be no physical or limited contact with customersfor a while, you will be forced to look at ways on improving your revenue without actually opening your store or office. That means focusing on your eCommerce site (if you have one) or selling your products and services on social media. Restaurants cannot take in diners. What did they do? They’re offering to deliver the goods to their customers.
Today, you can buy a new car online and have it delivered to your doorstep. Consider doing that for your products, too. If you’re offering services, you can perhaps offer gift certificates with discounts that your customers can use later on when the quarantine is lifted.
It’s only natural that businesses reduce their expenses when they are not earning enough. You can renegotiate the terms of your lease with the landlord. Perhaps you can come up with an easier way to pay off your rent. As for your workers, you can renegotiate their wages. So as not to lay them off, you can reduce their working hours and let them find another job on the side to compensate. Of course, laying off or reducing work hours to save on salaries should only be done under extreme conditions.
Adapt to the Current Market Trends
Try to understand what the market trends are right now. You can reoptimize your business’ positioning. You can reposition your brand. You can overhaul your business operations. The moment you understand what the trends will be once the market opens again, you’ll be in a better position to thrive and succeed. Getting help from a growth strategy consulting company such as Scaling Partners could be helpful in understanding the market. If you have the materials to produce some of the essential needs of people right now, you can do that. You can produce face masks, face shields, and many others.
Look at Your Competition
Look at what your competition is doing. How are they coping? Look at the ones that seem to be thriving today. What steps have they taken to reposition their businessduring these times? While some strategies may not work for you, these may shift you in the right direction.
Your business has to be ready to take on challenges such as a pandemic. Consider this a test of how valuable your business is to the community that you serve. Don’t think of this pandemic as a special roadblock. Think of it as another challenge you have to go through, just like many of the roadblocks you’ve passed to get to this point.
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