The only way that has worked well to hold or reduce the cases of Covid-19 has been “Lockdown”. Government over the globe, from China to the United States, has imposed national lockdown which has questioned the survival of the businesses? Due to lockdown, people are supposed to stay at home! How long will the businesses survive being closed? I don’t think so it can be much longer as COV-19 is not anywhere sooner. The businesses are struggling and I could see on the news how rapidly people are closing their businesses due to no revenue for three months now! Is closing the only way out? No, not really! I can provide you some ideas on how to survive and run your business during this global pandemic. 

Virtual Business – Is the Way to Go!

Being virtual in a business can be a strong aspect of future success. You might have noticed how the educational industry has reached the survival stage by initiating the concept of online classes and ensuring that they earned their revenue despite the students and teachers are sitting at home. Many students struggled and took help from assignment writing services but now the industry is gradually flourishing and the idea of going virtual has helped the industry to thrive again. The current businesses need to realize and understand the fact that this virus will remain for at least this year and physical shopping and interaction with customers can be a risky approach with regards to how fast this virus tends to spread. Businesses need to transform their approach from traditional to online. E-commerce is the future! Make a website of your services, post product information, and launch it online. One of the most important aspects in this regard is to identify your target market and customer type and then promote your business accordingly. But going online can help; customer will receive their services or product sitting at home only.

Be Innovative in Promotion- Go Out Of the Box!

Being online can only be a situation to make your business visible to the audience but there are numerous old and new competitors so why the customer who is already limited with their purchasing power will select you? When it comes to promotion, businesses need to be more and more attracted to the consumers with the notion that the services or products will be safely handed over without any health risk with a maximum discount offer. I remember watching videos of the restaurants catching customer’s interest by explaining the entire delivery process and giving them awareness on how they follow the safety guidelines. The promotion also needs to indicate the fact that the business is concerned regarding the current health issue and is trying to play a positive role in this regard.  Distributing free sanitizer in this regard can be a good idea!! Promotion needs to be done with the help of social media applications and using online portals as these are used regularly by the customers while sitting at home. It is also important to be highly specific regarding the audience to be targeted as there is a low probability that other audiences will be keen to buy the product or service. COVID-19 has limited the purchasing power of the consumers so it is also important to present your product as a necessity for the consumers as they will prefer essential products on priority rather than buying luxurious products. 

Bring Diversification in Business- Real Quick! 

Diversification is always good and keeping in view the current pandemic situation diversification can help in giving more options to earn revenue as customers if not preferring the earlier product you offered, might be interested in the new product range that you present. However, the new products or services must be launched keeping in view the current needs and wants of the customer. Customers despite a difficult time will not hesitate in buying products that are fulfilling their needs and wants. In this situation, healthcare-related products at offering can be a good source of earning revenue and getting survival in the market.

Limited Human Resource- Save the Cost!

You won’t like me to say it but the current pandemic has brought all of us to the level of survival. For survival, businesses will need to reduce their cost which could be done by limiting the expenses and reducing the staff. Going online and transforming the business channels will ensure that less human resource and more creativity is required. Reducing labor will help the business to reduce their cost on the product or service and release you from the excess pressure of paying the salaries and considering them as a burden. Releasing employees can also allow them to explore for something else or build up their own business? Well, if any employee reading my post will not like it for sure but trust me it is a good idea keeping in view the current global pandemic. 

Anticipating the Future Trends- Be the First One!!

To survive in this environment, it is pivotal to anticipate future aspects. Such as, what can be the next measure taken by the government regarding the lockdown situation. Understand what can you the preferences of the customers in the next months can be the real game for the businesses as then they will be able to identify the needs and wants of the consumer and most importantly be in the market earlier than the competitors and serve the audience.