COVID-19 affected every aspect of life and the business sector is experiencing major impacts on manufacturing, supply, and demand, quality and quantity, sell and purchase. No matter how well established they are and need to look again at how they manage and operate their business, including revisiting their business plan. Every sector is facing a crisis due to this pandemic situation and lockdown around the globe. Here are some Guidelines for entrepreneurs to survive during COVID-19 crisis.
Contents of the Article
Guidelines for entrepreneurs to surviveÂ
According to SOPs of WHO as well as internal of each country the running business is so difficult. According to the manufacturers, the inflection rate will be too high if we will follow these SOPs for a long time. The sudden increase in prices will decrease the demand and supply which will affect again the business owners. Because the entrepreneur is not the name of a lot of moneymakers, but it is at high risk due to a lot of investment during this type of disaster. Due to less revenue churn and general uncertainty in the global financial environment, it has become challenging for most companies to keep their financial wheels turning over during the lockdown period.
Entrepreneurship affected and entrepreneur affected
Around the globe, entrepreneurship has got affected by COVID-19. The economies of every country affected so the peoples are suffering around the globe. The key question of each small and big investor, the entrepreneur is how the business will survive in this situation?
As the COVID-19 pandemic taught us the lesson of lifestyle, it also taught a lot to business communities and entrepreneurs. Because at the same time the demand for some items went on zero and demand for some items like a mask, hands sanitizer increased very fastly and high. New entrepreneurs are experiencing more loss than well-settled business owners.
Basic Question
This time the basic question is, when things will go back to a normal situation or when we get our business and lives back to normal conditions? Everyone is waiting for things to go back to normal, but it is not easy, it will take more time to go normal. Also, we have to adopt some measure forever in our lives as well as businesses because the COVID-19 rebooted the world and during this reboot option some new features and changes we have adopted these features and changes.
Rebooted world can change
What the changes and new features we have adopted in our business and lives? This was strange for the world but now we have the strategy to save us from this deadly virus. It teaches us that technology is the key solution for coping with this type of situation. There are so many solutions out there right now as like the proper use of technology, you can reach out to customers in
so many ways and your business can survive. For example, many popular companies have started online and home delivery services by using Website, Online Store, WhatsApp groups, Facebook pages, Instagram, Pinterest, and getting the support of product review experts.
Accept changes
If you are a small and medium entrepreneur experiencing more loss due to lockdown and want to survive in this pandemic, you have to let go of your core business model and change your strategy, start online store by getting the support of product review experts, bloggers and online advertisers.
Remember those will survive and grow speedily who will adopt the change because post corona situation seems very change, the consumer is also looking for some brands, online stores, companies which are providing home delivery services with trustworthy way and safety of money.
Conclusion
Behavior change is not so easy and the COVID-19 changed the behavior of the world within a few weeks. If you are thinking that consumers will return back in the previous line, then you are wrong. This is one of the important questions is, how do you look at things during and post COVID-19 crisis.
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Always remember, Only GOD is perfect nothing else. Don’t wait for perfect, take the hand and make it perfect for your relationship. (Lifestyle Guru)
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Last Updated: June 09, 2020
This is helpful for those people. I know many businesses are struggling so I try to always shop from their stores.
This is a truth that we all must face and accept right now, and an advice great for us all. Things might never go back to what we used to know as normal.
It is crazy how a virus has changed and shaped a new way of living. Technology has helped and thrived through this pandemic.
Companies have to think outside the box to survive these times. Most will have to make changes.
It has definitely been a difficult time for many. Thanks for sharing these guidelines, they are very helpful!
This is a hard time for a lot of people and businesses. I hope that they can bounce back quickly.
These guidelines are very helpful especially now that most economy are down. I hope enterpreneurs bounce back quickly.
It’s going to be tough for the business persons but I believe that things will get better soon!!
Thankfully I have been into digital media and hence did not face too much of a challenge, but I can see that end of the day my clients are struggling for business and that affects me too, its a vicious cycle and I guess all of us need to just hang in tight for better times.
I have learned we all have to adapt. It can be hard but this is a great list of tools. I am glad to know someone else is thinking the same things I am
Thank you for sharing these guidelines. It’s so important to think of ways to survive this crisis.
xoxo
Lovely
Yes this is such a good article… In the period we are living now everything is uncertain and this is sad.. Thanks for sharing your tips, they look good to follow… – Paolo
CoViD has really changed so many things on a global scale. This has been a lesson of contingencies and yes, as you have mentioned flexibility. We are now at a time of re-evaluation and reassessment.
It’s going to be tough for the foreseeable future for businesses. All we can do is go with the flow now.
this is an extremely helpful post for a time like this. Thank you!!
It’s really crazy how everything around us is changing so fast! Small business owners are really one of the most impacted ones in this crisis. Thanks for sharing your insights.
Great tips! COVID hit most of people hard, it happened to me too. I only hope I will not end up turning back to 9 to 5 work again
Thanks for the tips! These guidelines are most helpful now that all businesses are down and need pulling up.
It’s going to be so difficult for small businesses to survive. Theres no doubt things are going to be tough but hopefully things wont take too long to return to relative normality.