8 Ways for Your Business to Stay Ahead During the Covid-19 Outbreak
Seeing such a situation, it seems that COVID 19 isn’t going to pass without leaving some long-term business and economic consequences in its wake. There are a lot of questions which will be in your mind. Now you keep asking yourself what is going to happen with your business. Instead of asking questions, it is better to make a new strategy for your business so that you can use it as a tool to grow your business.
Here I have defined 8 points I hope it may help you.
#1 Look for leads and Consumers ahead of time
As the situation gets controlled, many businesses and start-ups are going to struggle to balance normal running operations, it could be your new opportunity to build a strong connection with new customers. I know it is going to be more challenging at this moment but giving time and efforts into creating new leads now can make sure that you have a pool of potential consumers to depend on once things get better.
Also, your lead should have increased faith in you as a business. if you are trying to find a new client at a time when a lot of your competition will be going through a crisis, you are going to show your consumers that you are still doing well.
#2 Adapt your services to the present circumstance
All across the world, the common people have been instructed to stay at home poses serious issues to the businesses. If your company or start-up has the B2C (Business to consumer) model and depends upon face to face, in-store interaction with clients, it indicates a serious problem, specifically in the long run.
So, my advice is to become more creative and give your effort to figure out different ways you can still offer your service or products. One obvious example that of restaurant and cafés giving service called home delivery or offering discount even a little bit, and monthly subscription-style deal may help you stay ahead of the completion.
#3 Market your solution with COVID 19 in mind
You must have product or service, which can be of additional use or relevance amid the SARS virus crisis, at the time you need to adapt your marketing to reflect this, especially if you are presenting a different and unique service or product for the during of the outbreak.
You also need increased and flexible marketing because people will think whether certain businesses are still offering their own services. Make sure that your target audience knows you are still providing great service.
#4 Ensure Your Service will still be relevant at phases
Now you may have just started considering not only how your business is going to survive during the outbreak, but also to have a strategy in place for what will appear afterward.
Don’t think that once the serious threat to public health has passed, things will be normal like they had before the outbreak.
A major consideration is that prolonged home confinement may lead many customers to switch the purchasing ways like they prefer online or remote solutions, and it shouldn’t be expected that post-SARS, they will return to the solutions they’d been before the outbreak.
Suppose that you offer financial service B2C or B2B. Until now, customers may have preferred your service over automated service for the perceived reliability and safety of your individual, as per entrepreneur.com. Due to this fearful situation, people are prolonged home-confinement, which indicates that people could go with automated and remote service.
As the situation has been handled, fintech companies take advantage of it, they may launch the automated service by funding themselves more successful, and you might have some customers left. This is why it is crucial to be flexible and adapt your services not only useful during the outbreak but also remain a great choice once things have fixed.
#5 Recognize the challenges to your business
During the outbreak, you must have to identify those challenges so that you can strategize and implement all of the above points. It is very important to have a strategy for different scenarios and take each option into your account.
In such a situation, you are going to consider everything like form disruption of the supply chains to difficulties in communication, building customer new networks, and creating competition with others in your market. Regardless of how you wonder the outbreak will end up, how it is going to affect you, and many worst things.
#6 Plan Solutions with several scenarios in mind
Once you make a challenges list, it’s time to make plenty of solutions to each. I know it is hard to accurately simulate what will precisely happen, this is why you are going put the work into the preparation and strategizing now than be caught unknowingly and unprepared.
#7 Use an alternative solution to balance every single operation.
Entrepreneurship is all about thinking differently and bringing new solutions. COVID 19 will disrupt so many things like supply chains, communication, travel arrangement and many more. Now you may have made a mind that you are going to cancel all those things. Here, I would recommend you find other solutions instead of cancelling everything.
Let’s take an example, if you are due to due to getting a call to your office – for example, from a prospective customer, they might hesitate to make a trip given the present state of affairs. I would suggest you give them alter solution like facetime meetings or sending previously recorded footage in case they want to see your premises.
#8 Implement tech upgrade to keep communication flowing
Due to COVID 19 virus, most of your employees working from home at some point, now it is very important to make a plan for the upcoming time how should you make sure that communication can remain as efficient as possible. I know what you are going say we have phone or chat, well, it won’t fast enough.
I would say use an online platform for your essential strategy and comms, you can use Google Docs for collaborative documents so that everyone can edit and comment, Asana or other applications for business planning which keep your employees on the same track. What I want to say that the new method of communication helps you and your staff a lot while working from home.
Until now, there is no sign has showed that the situation will unfold. A thing might good withing a few months, or we might be facing a global recession a year down the road. Finally, I would say instead of making a mind to give up, it is better to make a great plan for the firm.