The CoronaVirus-19 Pandemic took the world by storm. No country was well prepared for it, as we know by now.
If the biggest countries’ governments were ill-prepared for this crisis, imagine the small businesses’ predicament. The entrepreneurs felt like the rug has been pulled from under their feet.
With the government coming up with new rules almost every two days to form the new norm protocols, for business owners, adapting to these new norms is like survival of the fittest.
So how will the small business survive and thrive during this crisis? Below are some tips gathered from thriving businesses and how they are surviving.
Survival Tip # 1 Be Transparent with your Team
Since this pandemic is unprecedented in our lifetime, there are no blueprints to follow. Everyone will try to look everywhere for guidance. In the case of a business organization, workers will look up to business owners for leadership.
As their leader during the crisis, priority is to show compassion. Some management teams have drafted a COVID work plan wherein half of their team works three days a week, and the other half also takes three days. This way, everyone feels appreciated and that the company is looking after their welfare by not cutting on jobs.
And since the new norm still poses something foreign to many, it is advisable to be open to your team. Involve them during meetings and let their voices be heard. This way, the team members feel that they have a stake in their destiny.
Survival Tip # 2 Let Your Customers Know That You Care
Regardless of the economic situation, showing our customers we care should be our mantra. However, more so in these challenging times.
We know many people have lost their source of income, so money is tight. It is the perfect time to offer discounts, great deals, or promos to let the customers feel that they are getting their value for money.
A good example would be to give a free webinar on new ways to earn extra income. This is something small, but to someone out there, it may be their lifeline. Your customers, in turn, will be grateful for the gesture and will be your brand’s staunchest ambassadors.
Examples demonstrated during this pandemic: A fashion house shifted gears by producing PPEs and donating them to the medical frontliners. Or the giant San Miguel Corporation turned their beer factories into ethyl alcohol production since there was a significant shortage nationwide. San Miguel, then, donated the alcohol free-of-charge as their way of giving back to the Filipinos. These are examples of corporate social responsibility that will go a long, long way after the crisis ends.
Survival Tip # 3 Be Prepared for an Abrupt Change
Companies that pivoted their marketing thrust emerge as winners in this crisis.
Abrupt changes may take the form of face masks. While these masks were previously for exclusive use inside surgery rooms, they are now made into fashion statements by genius fashion labels and sold very well. Traditional sit-down fancy restaurants who frown on delivering like fast food have taken a 180-degree turn and are now relying on dear life delivery.
Online schools show sensitivity to their clientele by offering payment plans in cooperation with banks to ease the heavy burden on students whose parents may have lost their jobs or got a salary cut due to Covid-19.
Adaptability to the fast-changing landscape is vital to survive and thrive in these harsh times.
Closing
No one can predict up to when this crisis will end. Nor can anyone ascertain that life can go back to how it used to be. We know for sure that we need a new mindset to adapt to the spinning world – be creative, be resourceful, and be up-to-date with change.
As everyone is going online, learning a new talent may give you a brighter future ahead. Consider investing in yourself by enrolling in an online course. It should not be a waste as this new skill may just be the accessory you need to survive and thrive during adversities.
References:
Coping with COVID 19: How cargo companies and big brands are adapting to the coronavirus. (2020, April 29). Retrieved June 25, 2020, from https://www.euronews.com/2020/04/29/coping-with-covid-19-how-cargo-companies-and-big-brands-are-adapting-to-the-coronavirus
Council, Y. (2020, April 15). Council Post: How To Help Your Business Survive And Thrive During A Crisis. Retrieved June 25, 2020, from https://www.forbes.com/sites/theyec/2020/04/15/how-to-help-your-business-survive-and-thrive-during-a-crisis/
How to Adapt Your Marketing During the Coronavirus (COVID-19). (2020, April 07). Retrieved June 25, 2020, from https://neilpatel.com/blog/covid-19-marketing/
Mary Ann , also called “The Millennial Granny” is a single mother of three and a granny of two little munchkins. Her story started as a newbie in the hotel industry, where she learned the ABCs of sales and marketing. She eventually took off and worked in a foreign country where she met the father of her children. Fast forward a few years, she went back to the Philippines as Hotel Sales and Marketing Director of an upscale resort.
She explored freelance writing in 2020 to adjust to the Coronavirus pandemic, which affected the travel industry. Mary Ann completed Writing Hacks Academy’s course, Freelance Writing Road Map.
Through all of her life’s journeys, she has always kept a close relationship with her three millennial kids. She believes in continuous learning, regardless of age. Thus, she calls herself The Millennial Granny.