The SARS-CoV-19 virus has changed the world. Millions are unemployed, a global recession is fast approaching, and our parks and playgrounds once teeming with life and laughter have been abandoned and forgotten. One wonders whether the world can return to how it formerly was this scourge is rooted out. And, as the virus is indiscriminate in who it affects, it will be no surprise then that we tell you that the world of business has also been affected, in fact, some may say the world of business has been affected worst of all.
This page will tell you how you can accelerate your business during this global health crisis and how you can remedy the damage caused by the SARS-CoV-19 virus. By following the strategies set forward on this page, you will be able to salvage what’s left of your business and take it to new heights.
Here is how to accelerate your business during a crisis.
Strategic Planning and Forecasting
Forecasting and planning are crucial elements of any post-COVID recovery plan. Globally, businesses are being closed left, right, and center, which for some businesses who can withstand the brunt of the social distancing restrictions and lack of income, can be very good. If you are the only business in your market still functioning – when things begin to recover you will be in the best position imaginable. Planning and forecasting for this are crucial. You can do this by hiring a professional strategist or forecaster, or by cutting costs and making use of a business simulation, which is an application that will develop projections and strategies for you. These projections and strategies can be of great benefit and can aid you in helping your business to recover from the virus’s financial implications.
There are a few ways that you can market your business now with great success. As has been mentioned, we are on the verge of economic collapse; because of this, many are unemployed, and many more are furloughed. Those unemployed and furloughed, a large percentage of them at least, are sitting around at home searching for jobs and idly browsing social media. You can use this to your advantage. Social media is a very powerful tool for business marketing, and now, with billions using it at one time, you can market your brand directly to your key demographic. They may not be able to make purchases immediately [financial collapse considered], but they will still be able to follow you and keep you in mind. You can also use social media influencers to your advantage.
Sales are, without a shadow of a doubt, the lifeblood of your company. If you are not making sales you will unfortunately not last very long. Making sales at the moment may be difficult, but with the right tactics, is not impossible. You may only be able to make enough to keep you afloat – but at the moment that’s all that matters. The training offered now will ensure that when things do return to normal that your staff will be better equipped to go out and make sales, thereby improving your company and improving your body of staff. There are multiple ways for you to train your staff at the moment, but it is important to consider that because of social distancing guidelines imposed upon us by our governments, we are unable to meet up physically, which means training exercises must be managed online, rather than in person. You can try roleplaying; one-to-ones; pitch exercises; peer coaching, and sales exercises.
Ordinarily, in a business environment undercutting is frowned upon. However, at this time when businesses are all trying to stay afloat, undercutting your competition could serve as the best way to accelerate your business and drive your competition out of business. It is not a moral practice, admittedly, but it is one that will keep food on your table, and the tables of your employees, and when the virus does fade into obscurity and all of this is just a nightmare long gone, you will still rule your market and your business will be in a great position.
Expansion into areas that may be developing – or areas of business that may be hot right now [such as the sale of PPE], can be a great way to accelerate your business. If the financial complications of the virus have not touched you, then this may well be an option for you to consider. Expansion and growth mean acceleration.
With the help of this page, you should now know a few ways for you to accelerate your business during these troubling times. The crisis will not [hopefully] last forever, so it is important that you just get through the coming months. Good luck and stay strong – this will all be over before we know it.