๐ฒ ๐ง๐๐๐ก๐๐ฆ ๐๐ก ๐๐ก๐ง๐ฅ๐๐ฃ๐ฅ๐๐ก๐๐จ๐ฅ ๐๐๐ก ๐๐๐๐ฅ๐ก ๐๐ฅ๐ข๐ ๐ง๐๐ ๐ฃ๐๐ก๐๐๐ ๐๐
It is no longer news on how the ๐๐ข๐ฉ๐๐-๐ญ๐ต pandemic has changed so many narratives and our lives in unimaginable and unprecedented ways.
For businesses across the world, it has been an incredibly tough time as many and thrive to jack back and many shutdown totally.
All of these has dampened the sentiments of optimistic businesses and Startups.
People have learnt new ways of working and collaborating in extremely short spans of time as crisis can be handled and sometimes even used as a catalyst to build a thriving and successful business.
All of these are learning experience and entrepreneurs have the opportunity to learn a great deal from this pandemic.
1๏ธโฃ ๐ง๐๐ฟ๐ป ๐๐ฑ๐๐ฒ๐ฟ๐๐ถ๐๐ ๐ถ๐ป๐๐ผ ๐ฃ๐ฟ๐ผ๐๐ฝ๐ฒ๐ฟ๐ถ๐๐
In time of economic recession, like the ๐๐ข๐ฉ๐๐-๐ญ๐ต pandemic, capitalize on strength and create new flexible business models to pivot without delay.
Analyze why the sudden outcomes of sales drop and then customize sales products and presentations according to customers feedback.
2๏ธโฃ ๐๐ผ ๐๐ถ๐ด๐ถ๐๐ฎ๐น
Amidst this pandemic, businesses that solely rely on offline location founds it very difficult to operate this period.
Therefore, connecting with customers through social media, virtual communities, influencers etc is a must for entrepreneurs looking to establish themselves.
3๏ธโฃ ๐ง๐ฎ๐ธ๐ฒ ๐๐ฎ๐ฟ๐ฒ ๐ผ๐ณ ๐๐ต๐ฒ ๐ง๐ฒ๐ฎ๐บ ๐ฎ๐ป๐ฑ ๐จ๐ฝ ๐ฆ๐ธ๐ถ๐น๐น
For any organization, team is the most important asset. There is no better way of motivating the employees than to make sure they are coping well during this harsh times.
Always be available for the employees to understand their financial and personal problems. Provide them with solutions and skills to upgrade themselves in required areas of specialties.
4๏ธโฃ ๐๐ถ๐ฟ๐ฒ ๐๐ต๐ฒ ๐ฅ๐ถ๐ด๐ต๐ ๐ฃ๐ฒ๐ผ๐ฝ๐น๐ฒ ๐ฎ๐ป๐ฑ ๐ฏ๐ฒ ๐๐น๐ฒ๐ ๐ถ๐ฏ๐น๐ฒ
For every business to be successful, you must hire the right kind of workforce. In a time like this pandemic, entrepreneurs with the right kind of experience and flexibility to adapt can be an asset for any organization.
Entrepreneurs just need to make sure that they hire the right people as its a great time to hire contractual staff as redundancies have made available a large pool of talent.
5๏ธโฃ ๐๐ถ๐๐ฒ๐ฟ๐๐ถ๐ณ๐ ๐ฌ๐ผ๐๐ฟ ๐๐๐๐ถ๐ป๐ฒ๐๐
At this time as we all experienced, so many companies launched products that is not strictly on their alley but in response to the present need of the masses as imposed by the pandemic.
This should not be viewed as a negative decision as it will not only help the company rake in additional revenue but also increase on overall perspective and historic approach.
6๏ธโฃ ๐ ๐ฎ๐ป๐ฎ๐ด๐ฒ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ๐
Scores of businesses have been forced to meet their demise due to low funds during this pandemic. Therefore, protecting cash flow in a well-balanced professional manner is very important.
Identify ongoing expenses and one which can be eliminated. Take it as an exercise to identify necessity and cut down on luxury.