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Business Survival kit: Crisis-Proof your Business

Byadmin

Oct 27, 2020

By now, we all have re-invented our approach to run business, thanks to the coronavirus crises. COVID-19 pandemic has changed the way businesses work around the world. Even though, the virus spread caused major trials and tribulations for the business world, it taught some crucial lessons as well. The alternation in approach has made business owners realize that maybe it is an opportunity to do things differently.

Crisis of this nature has taught many business owners to stretch their imagination, think deeper, restructure their organizations, and highlight crucial needs of their business.

During this crisis, small business owners were quite fearful about sustainability and hence they had more to adapt and learn as part of their efforts to sustain their business. Small business owners’ DIY-ed their survival kit by coming up with creative tactics

While we cannot evade the crisis instantly,  but what we can do is learn and implement what the crisis has taught us to secure our business in the coming days.

Here are a few aspects that small business owners should take care of to make their business crisis proof and equip themselves with the knowledge to deal with future business issues:

Try to avoid False Advertising

With or without the coronavirus crisis, small businesses usually suffer with customer’s defection and the inability of keeping new customers attached to the brand. This problem often arises due to a weak marketing strategy.

A leisurely scroll, which is one of the common things people have been doing in the pandemic, leads to exposure of unlimited ads on their social media newsfeed. From small businesses to big businesses, everyone is trying to vie the attention of customers online. Apart from the similarity between big and small businesses in having desperation for customers’ attention, one thing that makes them different is false advertising.

In many ads by small business, it is easy to spot false advertising. These ads promise amazing cut-price deals and freebies, however, the reality behind these opportunities for customers is entirely different.

To understand this better, take cable TV service as an example. In the United States, if you want to have a reliable cable TV service provider you will have to dodge your way from the grappling of pseudo and cheap cable TV providers that offer you unlimited channels at cheap rates. This advertising often fools customers into purchasing an unreliable and cheap cable TV service that becomes a headache for them.

On the other hand, cable TV service providers like Spectrum go by what they advertise. Spectrum TV Channel Guide will show you how many perks this cable service provider offers. These reliable cable TV services not only offer amazing and affordable packages to their customers but also make sure that they continuously upgrade their services.

This is the attitude that all brand marketers, regardless of how small or large their business is, should have.

Innovation is good but not necessary

One major thing that small businesses have learned due to the coronavirus pandemic is that every business functions differently. This means that the need for innovation and invention in businesses comes in different time frames.

In the wake of the coronavirus outbreak, many small businesses that did not have any presence on social media platforms decided to jump on the bandwagon. This innovation towards digital means was necessary for businesses that had no other way to reach out to their customer amidst the lockdowns.

While it is easier to follow the crowd, this type of innovation could not be implemented in all types of small businesses. If the nature of your business is not allowing you to function online then you need to stick to how your business industry functions.

This makes it important for upcoming entrepreneurs to not only concentrate on a company’s mission and values but also learn what works best for a business.

Protect Today with Yesterday

Like a human body that becomes immune to a disease that it had survived before, a business owner can also protect their business by learning from what it has endured.

The pandemic has brought great misery upon the lives of many. Especially a small business that had just started to grow its sales and earned profit faced great disarray due to the effects of the pandemic. Therefore, small business owners must now know how to protect their business from facing a crisis of the same level.

Takeaway

The time has come to put an end to mourning over failures and losses. It is time to learn from yesterday to have a better tomorrow.