How Should You React to COVID-19 as a Small Business?


sanjana
March 23, 2020
0

In a flash, the world has flipped upside down.

So, whatever are you going to do?

Option #1: Attack

Gather your team. Recognize what your competitors are cutting back on. Attack there. Think 6 months out. Play chess. Strategize.

Option #2: Defend

Bear. Cut costs. Believe in the government. Curl up. Play the victim. Layoff your most reliable people.

Which do you decide?

One of these will allow you to take command. Steer this boat. Take the wheel. Choose to go out with a blow.

The opposite?

You’ll ride into the passenger. Wondering… “Hmmm. What if I made this instead?”

The most suitable choice?

Who grasps? But there is an entirety something for certain… You get to decide.

Notwithstanding, the direction you go. We’re here to assist. So it’s clear what we’re willing to do.

Although generally, the next question… “What should I do?”…

True entrepreneurs and business leaders, will recognize opportunities in any business whether it is bull or bear.

Disclaimer: Before you proceed, read this! “We understand that this is a terrible time for most businesses, particularly small businesses without any support. Everyone, including our company, has to make some incredibly difficult decisions during this time. However, we do advise you to set yourself up for long-operations and troublesome times ahead then seek to find ways to win.

Here are some of the few things we’re seeing right now…

Gyms are closed: Our customers are taking to social media to host online classes. Getting hundreds and thousands of people to watch their online videos. They have already commenced getting personal inquiries for online coaching. The time COVID-19 recovery takes place. They will have their physical sales and online sales.

Coaches revenues are declining fast: An first shock to the economy will decline revenue. However, some mentors are using this as an opportunity to build more connections because there will be a spike in demand after COVID-19 hits over. Just think more prospects on the market asking for your services…

Course creators: The most beneficial courses are pivoting already. Financial courses that educate people on how to invest. Have started making programs about how to survive.

Those are just a few instances… So… How can your business stay positive? It’s going to be various for everyone. But here is some key perspicacity…

#1: Your competition is cutting back.

For the first time in the past, your competition is slowing down. Cutting expenses. Closing doors. AND making absolutely nothing online to communicate with present consumers.

But hey perhaps you have to cut back too… and that’s ok. The name of the game now is they can start attacking first?

When all this leaves over (and it will), do you want to have a relationship with all your opponents’ customers? Imagine how much equity you will build with physiques while they’re at their emotional highs…

Just a feeling.

#2: Online activity has spiked

Mandates to remain inside have been an argument. Hmm, so what do people do inside? Perhaps some chores. Some cuisine. A quick trip to the supermarket shop…

But the two things people will definitely love to do indoors are:

1) Watch TV

2) Use Social Media

The media plus online channels are having a field day right now. Watching online is approaching an online high. And when you mention the virus, everyone’s attention perks up.

Are you going to give in or enter the party?

#3: The Long-Term Matters… ALOT

Everyone must be so, short-term over the last 12 months. However, we all plan to be in the company for the long-term. Now is the time to make the switch.

Put some investments into helping up your customers out in the long term. Or think about this.. how long does it necessitate to complete SEO? Now perhaps a great time to spend in long term tools you can deploy that will put you first while others are giving up.

Conclusion

This complete thing sucks. And I wish it never happened. But the reality is.. It did. As business partners, we have to do everything we can to survive. Nevertheless, I believe the key to remaining is not giving up.

Now is not the time to rollover.

Now is the time to engage with everything you’ve got. Now.. that doesn’t mean go broke. Our recommendation is to be smart and strategic. Of course, above all, but the strength of your family, employees and yourself, first.

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