The world is in great deal of crisis. When human race is in tug a war with a virus outbreak called COVID-19, saving lives became the primary aim. When this is so, businesses are at stakes. Struggling trades and commerce turn out to be a challenge for nations.
When the virus outbreak is at pandemic level, either small or big nations, the adverse effects are already started falling on their economy. Countless businesses are falling apart and many are at the verge of collapsing. When enquired, every entrepreneur across the world has now one query in their mouth, which is “How to save my business during Covid-19?”
Whether it is a street cart or giant manufacturing industries, COVID-19 effect has put all trades and corporate ventures at risk. However, when there is a will, there is a way. Many have figured out their own way to adopt with the current crisis scenario and run their business as well. Inspired from their adoptive capability and sustainability in corporate world, we have decided to sieve out several solutions that can help save your business during COVID-19.
Rescuing your business during COVID-19
The rescue process of business during COVID-19 is narrow, but there are some tips which can save your trade and commence in this delicate scenario. Here are some useful tips we will discuss about that can pull out our business in this critical scenario:
- Few tips to save your business during COVID-19
- Digitizing your business process
- Improve business delivery process
- Hibernating business process
- Proper health and safety measures in workplace
Current scenario
So what could be the remedy of saving a business during CORONA 19? To find out the answer, we first need to see the current scenario of the society. The condition tells us that, nations are going under strict lockdowns; some countries are deploying military arm force and curfew to restrict movements outdoor.
The level of international transportations and transactions are at the bottom of the graph. Export-import, tourism etc. businesses are at the highest loss. The aim of such isolations is to restrict the virus outbreaks any further. So far, this is the only key way to minimize the COVID-19 pandemic.
Ways of saving business
Did you consider digitalizing your business?
This can be the most popular way to save your business when you are restricted to move out or make social gatherings. It is the time you should consider digitalizing your business. Virtual businesses are getting popular, and the popularity went to the peak even before COVID-19 has struck the earth. When world is facing global health crisis, and keeping social distance is the key process to stop the outbreak, a virtual business can save both lives as well as business.
Additionally, digitizing the business can give you a global access to market products. Of course manufacturing businesses may feel isolated from this process, but executive and management part of such businesses can be included in this digital facilities. We will get back to a better solution for manufacturing industries specifically right after discussing some of the other options.
Improvise your business delivery process
Almost all businesses somehow include in their own delivery process, especially manufacturing, food and logistics businesses. However, COVID-19 scenario enforced a drastic scenario in delivery businesses. Many businesses have even enhancing their delivery process and temporarily keeping it as their primary earning source.
During this epidemic crisis, if you think that your business process is going down for lack of delivery, or delivery process need to stop as this may result contaminations and further disease outbreak, well you are wrong. Many have changed their delivery process, to adopt with the recent situation. Much food companies, for instance, Domino’s introduced touch-less and drop-off delivery process.
Here delivery personal takes every health and safety precautionary to prevent any disease spread outs. On the other hand, drop-off option in business delivery proves out to be even safer in delivery industries.
Think hibernation in this crisis
Not always doing business means saving a business. Sometime going for hibernation can also save a business. Not always any business has a same momentum. Scenario often deteriorates. Such low time asks for business hibernation, until better time emerges.
Of course this tips is appropriate for any business that have good storage capital and can go dormant for quite a long time, but unfortunately this process is not appreciated by small to mid size businesses where capital is low and can go dry if business dormancy is the only preferred option.
Pausing business activity can give an owner some additional time to think about next strategy of the business. It cools down business processes. During hibernation a business can also come up with more ideas and preferable opportunities that can add up business profits later on when dormant or business hibernation process passed away.
Proper health and safety measures
When most of the businesses can go digital and can be don’t online, manufacturing and businesses that requires direct labor involvement, doesn’t have that freedom all the way. Manufacturing and labor industries have a limit of how much digital the business can go. These categories of business require direct monitoring and supervisory activities. When this is the case, there must be some strict health and safety compliances.
Manufacturing and labor industries up on which many nations rely on, can undertake various strict health regulatory rules, for instance when Corona virus outbreak takes place due to droplets and direct contacts, proper face mask and distancing must be maintained in the work place. Proper antiseptic or antiviral sprays must be used to decontaminate employees or work heads before entering or exiting the work place.
Extra tips
Safety of the employee and workers of a business can only ensure business sustainability. Without employee there is no business. A business can run and see profit soon or later, but without proper employee an empty business place is valueless.
When an entrepreneur asks “How to save my business during COVID-19”, the answer in this scenario should be “Did you consider saving your employee during COVID-19?”. The pandemic spread out we are facing in current time will eventually go away.
Human will raise again, Streets will e busy with working people, but the fate of your business lies in your own hand. If you ensure safety and security of your employee today, in this crisis hour, this will definitely give a positive payback; once your business goes in full action once the global crisis is over.
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