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With the drastic changes that the COVID-19 outbreak brought worldwide, almost everyone is forced to adapt and develop different strategies that can help them through. The same goes for business owners who wish to continue operating amid the chaos of the outbreak. Take note that the first thing entrepreneurs should take note of is that crises change everything.
Whatever plans and expectations laid down pre-pandemic should be set aside first because aside from it not being feasible, the company might not have the resources and products to push through. It’s important to acknowledge that procedures and plans may not happen, especially at a time like this. However, there are different ways a business can continue to thrive.
One of the initial steps is to go digital. Because of the CDC’s orders to prevent the further spread of the virus, the majority of citizens worldwide need to stay at home. The only means of communication is through online transactions, and that’s where brands should focus first.
One good example is how VISA gave in to their client’s requests for accepting payments digitally. After conducting a survey, most of the respondents demanded that VISA present them with digital payment methods. By listening to the customers, the company has a more significant chance of thriving amid the crisis.
Use Online Advertisements
Another strategy that could work is to invest in online advertisements. While some people think that spending additional dollars on advertising seems like a waste, it could pay off eventually since most people are on their phones nowadays. However, you can also endorse your products by asking your clients to post about it, because the more that people see what you’re selling, the more that they’ll unconsciously want to try it, too.
Create Fundraising Campaigns
Fundraisers are also a great idea. Although experienced individuals in the market say that business owners should wait for the crisis to finish, it’s still possible to raise funds. The key is to craft a fundraising message that catches the attention of many, especially the investors. While business owners are not sure whether investors are willing, it doesn’t hurt to try.
Take Care of Your Health
Ultimately, at a time like this, business owners should first take care of themselves and, most notably, their mental health. A business won’t thrive if the team behind it is not well-rested, in good health, and a ready state of mind. Whichever way works for you, let yourself improve and watch your company thrive amid the pandemic.