Many had big plans for 2020. Some probably had their “new year’s resolution” written way back October 2019. Who would have thought that all our plans would just crumble in the face of the pandemic? But we all hope that this too shall pass.
For entrepreneurs, the pandemic dealt a huge blow to their business. However, we should not throw in the towel just yet.
Going back to how things were before the pandemic is impossible, with all the health protocols that we need to abide with. We need to tweak our plans. Entrepreneurs should look at how to best position their companies to take advantage of growth opportunities and avoid, or at least reduce, the threats presented by COVID-19.
Think outside the box
Entrepreneurs should realize that the strategies that worked before the pandemic will no longer work in the future. Despite a seemingly foolproof business plan, new strategies must be employed that are appropriate for the current situation.
Doing the same old processes and routines may no longer be viable this time. You need to find ways to respond to the changing needs of your customers and improve your current processes.
Create a road map
We never thought that a pandemic like this would happen in our lifetime. The pandemic has brought so much fear. As an entrepreneur, you should admit your fears and the pressure that goes with it. It can never be easy to just come up with a plan instantly most especially when we fear for the safety of our family.
List your fears and uncertainties
You cannot play God during this time of distress. You just can’t make things happen according to your whim because there are so many things to consider. To be on your own, drowning your thoughts with such high emotions will lead you nowhere. Instead, form a team of experts that will help you to find the answers in order to come up with options.
Stop obsessing over your competitors
Checking on how your competitors are doing is a waste of time. Instead of getting envious, focus on your customers. There are changes in customer expectations. Customer experience is a vital part of any kind of business. It will make or break a company. Even if think you have provided the best product or service, customers may still feel that there is something missing. They may be unsatisfied and that is your cue to do something unique and outstanding to make them stay.
Expect failures when you come up with new ideas, but don’t be disheartened. Just continue with your experiment until you create something that will delight your customers, particularly now, during the pandemic.
Adapt to the new normal
Even successful businesses had to close down when the enhanced community quarantine was implemented. reopened their stores but had to downsize their staff. Some shifted to online. This is truly a sad situation, but, for now, we need to just get by.
Facebook has been quite helpful, particularly to those who lost their jobs. Online sellers became a huge hit. And I guess even if we get back to a pandemic-free life, these online sellers will still be around.
Make decisions quickly
While it may be too much of a pressure to think of ways on how to rev up your business amid pandemic, always think that what you should come up with should be based on what your customer truly needs and how they would respond to what you can offer. It is best to be constantly in touch with your customers. Improve your social media presence because through your customers, you can keep your business afloat – with or without COVID-19.
Never cease to come up with options and solutions when challenges step in. Turn all of these into growing opportunities for your company.
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