Tips To Plan Your Business That Can Survive Any Pandemic

 

Have you ever thought, that one pandemic can shake the world’s economy so badly?

It was not just a nightmare, but a nightmare that came into reality.

All types and sizes of businesses got hampered due to COVID 19 pandemic, and no one can be blamed for the consequences.

While all countries are trying their best to come out of this pandemic pothole, still many entrepreneurs are struggling to make up for their losses.

As per the businesses magazine, it is found that 75% of the startups have been shut down due to COVID 19, and this is just the beginning.

Do you think, businesses are bouncing back in a better way?

Then, let me tell you, No, they aren’t. 

When people are thinking, it’s 2021 now, and the pandemic has gone, let me remind you that its effect is still in the market.

Since, February 2021, almost 10 new businesses have shut down due to COVID 19.

If yours is still working, then CONGRATULATIONS!!!!

Your business is really doing good.

What do you think went wrong for the rest of the businesses that had to shut down their operations?

Reasons could vary. For e.g. businesses that totally depend on labor work, have suffered a lot.

On the other hand, businesses that can be done using the internet and laptops/computers didn’t experience many downfalls.

The WORK-FROM-HOME culture saved them.

In short, manufacturers got hit hard and tech companies a bit less, but ultimately, every business suffered LOSS.

One of the prime reasons for failing a business was, companies were not ready with the plan to incorporate during the Pandemic condition.

Entrepreneurs never thought of it, and from here, they will always have to think prior about the condition that may come.

COVID 19 is just one Pandemic, we never know, how many such pandemics can occur.

All, we as an entrepreneur can do is, be ready to save our business from any kind of pandemic.

In this article, I am going to tell you few tips that you can incorporate while planning your business to withstand any pandemic.

From all the above information, you might have understood, that taking the business online is mandatory now.

So, here comes our first tip :

Go Digital As Soon As Possible

Many business owners have understood the importance of online presence for their business. Businesses that shifted from physical spaces to digital spaces still hold the chance to survive in the market, regardless of any pandemic.

It also gets down overhead costs and other expenses that are required for the operation. During critical environmental conditions, employees can work from home, and businesses can still function smoothly. Thus, the supplies for business are not required in a large amount, thereby, cutting extra costs.

If you don’t want to shift business to complete online mode, then you still can have the pick and drop service going on. 

Online ordering within store pickups has increased by 259% in August 2020, as compared to August 2019.

Re-Organize Your Budget 

Now, is the time, to always think of tomorrow. Reconfigure your business budget for now and for the future. The future financial gains totally depend on your current healthy budget.  Cut the unnecessary expenses, and make a room to increase revenue. Few tips to re-organize budget depending on your businesses are :

• Pay smaller debts as soon as possible.
• Invest in online marketing and focus to yield big results from it.
• Cut down all services and discounts that aren’t helping your business grow.
• Search for budget-friendly vendors.

By incorporating these tips, you can easily lower down expenses and increase revenue. It will help you to get economic momentum and ensures a sound financial future. By the time, you get used to operating as per new budgets, the company will be in far stable condition and could survive any pandemic in any future.

Retrain Your Staff

It is better to educate your staff rather than a layoff. If you keep your staff entertaining in such a difficult situation, then they will always love to work with you and will always be supporting you. Train your existing staff with some additional skills, which can make them more productive and efficient. Inter-department employees can work together to bring in great results.

Instead of hiring new employees, let them work together and share knowledge with each other. For example, the marketing and sales department can form a great team, which can drive the company smoothly. Similarly, Project management and Product designing departments can work together, this way employees will always be ready to learn new things and equally contribute to the better of the company.

Maintain A Good Rapport With Contracted Parties

In difficult times, bitter behavior may lead to disappointments and losses. Instead, stay positive and give some time to everyone to cope up with the situation and come up with a win-win solution for all parties.

Be Ready With Future Blueprint

Always have a business model, that has to be followed during pandemic conditions. Study on how your customers will behave during a pandemic? What will matter to them and who can be your new customers? Will you be able to offer any services or products online? How you can cut costs by using technologies and balance the profit?

A future blueprint is a must for a business to survive any pandemic.

Pandemic doesn’t come with any warning, so business owners should always be ready with the plan of action to survive business during any type of pandemic. A business must keep running, no matter how hard it gets hit, and for that above tips will definitely help you.

Tell us in the comment, any tips that you think will be helpful for business owners to tackle pandemics.