The coronavirus has emerged as a global pandemic. This affected many lives, and economy, all the major world economies are suffering along with the common people. Almost all the countries have declared a nationwide lockdown. But many countries have tried to provide some relief to the business to ease the effect. Research has been stated that the companies having a large number of employees are going to suffer the most. Although most of the helping plans of the government will launch to cater to the big businesses as they affect the economy directly.
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1. Pick up the phone and speak to your customer
Most of the small businesses have thrives on the building of a new customer base. But time your current customers are the most important asset. They might look for the options to halt their requirement. So in order to assure you that this doesn’t happen, you need to pick up the phone and speak to them directly. Also, provide them with an offer or discount. This kind of personal touch is very important as these current customers might help you to survive and grow after this lockdown period.
2. Ensure health, safety & well-being of your staff members
Keep in touch with your staff members as they are your biggest assets in these troubling times. Keep a follow-up on the well being of them and their family members and encourage them to keep on their work. Also, you need to make sure that they are working with ease at home.
4. Avoid harsh measures
The employees are already facing a lot of mental stress due to the pandemic. Therefore you need to be polite to them. You have to make them feel that you are their friend. Never burden them with a lot of work. Always ask them for their well being. These act of kindness exhibits your concerns and leadership qualities. This is will also make them feel that you are their friend and readily help you.
5. Re-think about new business acquisitions
This is the right time to build some goodwill for your brand. This pandemic has put the government in big stress. You can produce safety masks, sanitizers, test kits or you can donate some value to help the government and the health care systems a little bit. Also, you can distribute food to the needy one. This can give you a sense of accomplishment of having done something useful for the society.
6. Become part of COVID-19 fighting economy
This is a very tough time for everyone, ranging from a common man to the CEO of the company. This is not the right time to think for a new business for yourself, as this will make you selfish. Also thinking about the new business at this time might affect your business in the future. Moreover, you can utilize your time by making strategies to grow your business. Also, you need to go slow with your expenses. Save some money for your new plans.
By keeping these things in mind you can try to keep your business losses to a bare minimum. And we all can hope that this difficult period ends soon and the world comes back to the normalcy.