Entrepreneurs have a high capacity for innovation, perseverance and flexibility in the face of new developments, but emergency crises may affect their projects and startups, the most recent of which is the “Covid-19” pandemic that caused the world to become paralyzed, and forced many companies to temporarily suspend their operations, or allow their employees to work from home. These harsh conditions made small businesses and startups more vulnerable to failure, and put their leaders in entrepreneurial strategy under an existential test, either to cross them to safety or drown them! Here are the most important steps that they must take to save their companies from the "Covid 19" crisis:
Enhance customer relationship
Improving ways of dealing with your customers maintains their confidence in your company, and contributes to providing the minimum revenue for it, and for this you must search for ways by which they show that they are the priority of your interest, and provide them with any form of support within the available capabilities.
Despite the difficult economic circumstances, we do not advise you to raise your prices. Rather, it is preferable to offer additional discounts or services that you do not normally provide under normal conditions. Even if you have to close for some time or your company's productivity decreases, it is best to keep interaction and dialogue with customers open through other methods to maintain their interaction, such as providing them with important information about the virus, how they should take care of their safety, and how your company's services can improve their lives during these And after the crisis.
Take back control
Although the pandemic crisis caused the economic landscape to change, the business must not be completely at its mercy. Rather, the pre-defined emergency plan must be applied or formulated if you do not already have a plan. This plan helps protect businesses and employees and reduces resource drain. The plan must also include how to move to previous activity once the economy returns to normal.
After controlling the pandemic, the ability to work efficiently from a distance will still be a factor distinguishing competitors. For example, the company's e-commerce store can be set up on various platforms.
Innovation and innovation
The slowdown in the global economy is affecting business negatively even after the wave of the virus has passed, and it may take some time to return to the previous level. But this crisis is giving way to new opportunities rich in innovation.
For example, startups can convert pending plans into actionable plans, then start implementing them, follow up on new customers, create new revenue channels, and improve existing products. There is no doubt that market forces will change at the end of the pandemic, and this may harm businesses once they resume, so the opportunity must be used to rethink the typical form of business application.
Take advantage of «digital platforms»
Social media and content marketing are becoming new trends that dominate the business world, and today we live in the best period of publishing company content on the Internet. After most people started working from home, they have more time to browse their phones by calling their loved ones online or for entertainment.
The New York Times reported that the use of "Facebook" has increased by 27% since the outbreak of the virus, and that this is why the opportunity is available to address customers and should not be missed, as they have had enough time to read marketing emails and follow posts on "Instagram".
Contact the investors
There is no justification for financial panic due to the pandemic, but investors must know what plans are in place to protect their investments. A proactive approach must be taken by contacting them and explaining short and long-term plans to maintain business continuity. Opening channels of communication and acquired confidence will improve future business relationships.
Safety in the workplace
Once governments give the green light to resume business normally, extreme caution must be taken, as many reports indicate an escalation of HIV infections after some countries have reopened their businesses. Therefore, when resuming work, it is necessary to ensure compliance with the established safety procedures to prevent endangering the lives of employees and customers. This can be applied by increasing the frequency of cleaning buildings, providing soap, disinfectants, and sterilizers, as well as giving sick staff leave so that they do not transmit infection to others.