Business Mentor: Looking at various possibilities in the current setting

Armando Bartolome

Posted at Sep 12 2020 10:19 AM

A stall in Quezon City utilizes various online platforms to sell various Christmas decor on September 1, 2020, the start of the 'ber' months where the country celebrates the longest Christmas season. The stall has turned to online selling to cope with the low physical store sales due to the pandemic. Mark Demayo, ABS-CBN News

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.


---------------------
For more information, you may contact Armando "Butz" Bartolome
by email: business.mentor@butzbartolome.com
FB Page: Butz Bartolome
website: https://www.butzbartolome.com