Business and the Coronavirus

The coronavirus outbreak has been a cause for concern for many businesses around the globe this year. With full-on lockdowns, partial reopenings and a fear of a second wave, many business-owners are worrying with how to proceed. Yet, the precarious situation we find ourselves in should not be seen as a negative, instead, we should look to it as a way of re-inventing our businesses. We can ensure that they are both streamlined and modern so that when the pandemic is over, and we enter a new world, they are equipped even better to survive and flourish.

There are still many things that can be done to not only ensure the survival of your business, but that can also ensure it remains strong in the current market and is even better prepared to re-open fully when the world finally gets back to normal.

Keep the essential business running but don’t be scared of change

Despite such unprecedented times, it is vital that you keep the business running and allow some sense of normality to remain to both yourself, your clients and your customers. However, to continue as if nothing had changed would be counter-intuitive and frankly dangerous.

There are some simple ways in which to continue to practice, yet also adhering to sensible COVID-19 related strategies. For instance, allowing staff to work from home if possible is an extremely easy and low maintenance way of keeping your business running during the current pandemic. Yet, in order to maintain some form of normality, it would be best to continue with regular meetings. These can take place on the zoom app or even on uberconference, where multiple people can video chat at a given time. This is also a brilliant way of keeping your team focused and motivated during a stressful time.

Your team must also be seen as an essential part of keeping your business running. It is important to acknowledge that this is a time of great stress and upheaval for many people, and thus it is best to act in relation to that. Do not expect workers to be completely focused at all times, give them smaller targets and allow them to reach in their own time, whilst also making sure to supervise them and understand their difficulties. When all this is said and done, your workers will appreciate the way you treated and understood them during the hard times, making them more motivated to work harder when things are back to usual.

You must treat the changes COVD-19 have brought to your business as a reset button, a time when previous mistakes or bad habits can be lost, both by yourself and your business. Just managing to survive the current situation may enable you to thrive once it is over, with a rejuvenated team and a fresh approach.

Adapt to new consumer demands

With some parts of the world under lockdown and the heightened fear of leaving the house, it may be best to move your services online where possible. Websites such as shopify are great at helping smaller retailers and family businesses startup online, having helped over 1 million businesses and people do so already.

Furthermore, if certain products or business ideas are no longer relevant than do not be scared to shelve them for the foreseeable future. In times of crisis, it is important to focus on the ways in which you will be as profitable as you possibly can be. It is advised to keep searching for new ventures that may work, but pointless to continue with things that are no longer viable in the new COVID economy.

Keep Looking for Opportunities!

The Coronavirus does not mean there are no new business ventures to be had throughout the world.  Don’t let travel bans put a halt to global business opportunists, previously mentioned apps are a great way of being able to communicate well from the comfort of your own home. Furthermore, language barriers are now a thing of the past, with apps such as MyJuno allowing speech to speech, speech to text and text to text translation whilst also having an innovative group chat feature, where multiple languages can be translated at once.

Make sure you keep an eye out on new business ventures to be had as not only will it allow your business to maintain a profit, it will also keep your team and colleagues busy and thus motivated. Yet, as previously mentioned, do not expect too much of them at a time of such uncertainty. It may be best to focus on one key new venture at a time, as a way of not over-burdening or over-stretching your staff.

What is essential is that you do whatever you have to to survive this sudden downturn, and come out of it a stronger and more refined business.