6 Ways to Sustain Your Business in the Middle of a Pandemic

This guest post by MJ Tiu featuring Canva For Negosyo tells us how to sustain and survive your business operations in the midst of a pandemic.

And just like in movies, we are amid a pandemic! Most, if not all, of the things we’ve known, have changed. We had to break our routine and spend our time at home. Doors closed, and activities have never been the same again. 

Although COVID-19 is a health issue, it has affected the world’s economy. The crisis has pushed many businesses to their limits and found it challenging to ride the turbulent waves. Bootstrapped businesses and small and medium enterprises were severely hit. It’s a sad reality that the outbreak has brought many businesses down to their knees. Non-essential businesses closed down. Essential businesses are forced to restructure to adjust to the changing protocols. Workers lost their jobs. 

Though there are a lot of difficulties, survival in this calamity is of the essence. Business owners are responsible for their well-being and their workers as well.

To stay afloat, one must keep up with the trying times. On the bright side, pulling through a crisis can sometimes lead to great discoveries and breakthroughs. But, how do you exactly bring back a business up and running again during a  pandemic?

Cut your losses

When a business closes down temporarily, it’s time to tighten the purse strings. Find ways to cut back on unnecessary expenses and costs—direct funds to essential business functions and operations. 

Ask yourself these questions: Can you negotiate your rent if you’re not using the space? Can you temporarily move out stocks to your home? Can your employees work remotely for the time being? Are there any expenses you can pause while the operations are on halt?

Businesses’ operations need reshaping to withstand losses and stay afloat. Stretch budgets to care for the operations and the employees. Apply creativity to limit spending while revenue is still recovering.

Respond and create new opportunities

Once you’ve stopped the bleeding, it’s time to create avenues for income by responding to the market. Figure out how the demands have changed and what areas your business can serve. Innovating during the pandemic is the key to thriving.

In your line of business, is there a new need that you can fill? Are you able to add new products or provide new services that support your current customers? Can you take orders and process payments online? Can you reassign employees to provide door-to-door deliveries instead? How about making partnerships with complementary businesses?

Explore new options where your business can start anew or branch out. It would allow your business to create revenues for its sustenance. Fill in the void where other businesses can’t serve. Reset and reinvent  your business to generate income.  

Be quick and agile.

Agility is your best friend when you are running a business. Adapting to the changes in the economy and the environment is mandatory to survive. Make your business adjust to the new normal as fast as possible.

New doors can open for your business when you pay attention to the market. Be on the lookout for the changing trends and pivot as soon as you can. When you find the problems in the new normal that your business can solve, address these as quickly as possible. Focus on the development and processes so that you divert your business into a new path.

Also: Download COVID-19 Free Templates for your Business

Leverage free advertising and training

Look for free and effective advertising whenever possible. Through the internet, free tools and resources are abundant. Creating a social media account is free, as well. You can use this to connect to new customers and build your brand even when everyone’s at home. It allows you to access new markets and reach more people compared to traditional marketing strategies. Join local groups and reach out to your community through social networks. 

Many online platforms also offer support and free training to businesses. For example, Canva for Negosyo is an accessible marketing resource for every type of business. You can access customizable design templates for your business and marketing tips to succeed in this pandemic.

Grow and stay flexible

Once you’ve started to regain a good footing, take all these new experiences, and make adjustments. Always find ways to improve your products and services.

What are the things that you found difficult during the pandemic? Can you handle in-house deliveries already, or is it best to find a delivery service for this need? Is there a business process you can automate?

Plan out your next steps. Create a framework your business can follow during and after the pandemic. Make a backup plan that your business can fall back into to ensure survival. It’s good to plan for the new normal and beyond, but be flexible so you can make changes when necessary. It would allow you to pivot while staying ahead of the game.

Also Read: Investing and Earning during a Crisis

Stay resilient

In a time when there is much uncertainty, it pays to build a resilient business. You’ll fall down a few times, especially when there’s no cure for COVID-19 yet, but you will always have the opportunity to get back up.

Waves of an outbreak can happen in the future that might affect your business. It’s critical to absorb lessons and create sustainable adjustments. Stay through the course and keep your eyes on the prize.

The uncertainty of the future with the pandemic happening has forced businesses to rethink their plans and goals. But it also made everyone open to different possibilities.

Although there is no magic recipe out of a crisis, fortune indeed favors the brave. Things will not always work out for the better, but you have the option to bend and overcome these trials. The goal is to stand up and nurture a sustainable path toward recovery. Emerging victorious from this pandemic will only make you and your business more robust in the long term.

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