The COVID-19 pandemic seems to have hit the entire global business world pretty hard and small businesses are reeling under its onslaught. Numerous small businesses are having a tough time surviving in these times of economic downturn that has been triggered by the Coronavirus outbreak worldwide. The small business scenario in the United States is really grim and several organizations have been compelled to explore innovative or novel ways of functioning with either restricted cash flow or complete closure of businesses.
With unemployment claims going out of hand, the workers in your small business may start feeling alienated and uncertain about what their future’s going to be. As a responsible entrepreneur, it is your responsibility to infuse elements of confidence and determination so that they do not lose their focus. Help them stay motivated so that they could perform to the best of their ability. The organizations that use the opportunity positively and forge ahead by exploring new ideas and new horizons are going to be the stalwarts in their industry once the quarantine or lockdown has lifted.
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Remember that your reactions would certainly be defining your business and most importantly, you. Hence, as per EJ Dalius, the marketing Guru, the most effective way of forging ahead of the rest is by taking proactive steps and by being aggressive in your approach. Starting or running a new business could prove to be incredibly difficult. As per Scrapality, most small organizations would be adversely impacted by the pandemic. All their growth and expansion plans need to be revised and modified while some campaigns need to be shelved for now.
However, you must start reacting to the challenges that come up every now and then. Meeting challenges with a positive mindset defines your leadership potential.
Eric J Dalius Presents Expert Tips to Sustain & Succeed
Challenges help us to constantly remind ourselves to be thankful and to effectively slow down our pace and remember the reason we started our journey as an entrepreneur. Experts believe that challenges and difficulties such as COVID-19 pandemic or economic depression could come up with great opportunities to succeed and thrive. Follow the expert tips to emerge unscathed in these dire circumstances.
No Need to Panic. Stay Calm
Eric Dalius firmly believes that staying calm could prove to be quite tough when your cash seems to be running out. But focus your attention on staying fit and active to face the challenges with incredible grit and determination. Do your exercises and eat well. Keep your calm and do not panic despite economic upheavals and crisis period for your business. Help your staff to maintain sanity and not to panic. With your positive action and inspiring words, let your staff feel motivated and develop a positive and certainly healthier mindset. Sit back at times and examine your situation and ask for trusted opinions and emotional support at times when you really need it.
Exploit Governmental Resources and Seek Assistance from Financial Institutions
Worldwide governments are coming up with effective steps to support all small business owners. Stay updated with important information relating to loans and other monetary aids to tackle the grave COVID-19 situation. Use efficiently all resources coming from governments and even from reliable Financial Institutions. It is critical to remain updated with all announcements, schemes, and initiatives coming from the government for assisting organizations with financial aid in this distressing period. Try finding out if you are eligible for any specific government support. Stay on top of the various options that are coming your way.
It Helps to Be Flexible
As an enterprising business owner, you must be prepared to adapt and adjust to changes that take place in your work environment. You may have to allow people to start working from home and ensure that the right technology is in place to support the decision to work remotely. For instance, if you are running a gym, you need to keep it closed during the lockdown but you must connect with your customers online. Start offering online fitness classes for your existing or potential customers. You may need to consider implementing a few new technologies for supporting a whole new way of life. Go for it, be proactive if you want your business to grow and sustain during these bad days. Keep creating new value even during the depressing COVID-19 scenario.
Focus Your Attention on Investing In Your Staff
Start organizing training sessions for assisting your staff to pick up new skills. Start creating mentorship opportunities for inexperienced employees so that they could benefit from the wisdom and expertise of seasoned campaigners. Employees must be encouraged to attend virtual conferences whenever possible for sharpening their skills.
Conclusion
Focus your attention on coming up with much-improved work-from-home or remote working systems so that the company could employ the services of more remote staff. Organizations must create new products and start introducing your firm to brand new markets. Never give up!
Eric Dalius is a Marketing Professional with a Bachelor’s Degree in Marketing from Penn State University who has generated over $50 Million since 1990 in a Marketing career focusing primarily on the MLM or Network Marketing business model.
