Advice to early-stage start-ups to keep businesses afloat during and post- COVID-19
While the global economy has been put on an indefinite pause amid COVID-19, businesses are experiencing unprecedented fallouts. Starting from the contagious outbreak, then followed by precautionary measures such as social distancing, quarantine, to the lockdown imposition- it is quite challenging for startups to keep themselves safe from drifting apart.
The current situation calls for immediate attention to reassess business operations to brace for the upcoming impact during and in the post-pandemic world. Here are a few areas in a business where a start-up needs to stabilize its presence in the competition.
Digitize your business reach
Amid the COVID-19 and worldwide lockdown announcements, the online market has gained momentum. The majority of businesses are happy to switch to online modes in response to the current scenario. Industry experts believe that this wave of COVID-19 isn’t settling down anytime soon. If you can move your offline business to an online portal, your business might be able to sail through these tough waves. The decision to step into the virtual market will help your business:
- Increase its outreach to the worldwide clients
- Decrease your manpower/ operational costs
- Gear-up your business to meet the end-to-end needs of its customers in any tough situation
How tough would it be to switch to an online model?
As a start-up, you might be worried about the additional financial and operational investment required to switch your business to the online portal. But that’s not true! You can create an instant online marketplace for your business with Yelo and can run your business operations smoothly on a global level.
Pitch your old and new client
While the world is struggling to come to terms during this tough time, a strong network is encouraging the businesses to keep their going on! We understand that being a newcomer in the market, you might have only a handful of connections. But, believe us, It is the quality that matters, not the quantity. This is the time to amp up your market value by offering your clients a good experience with your services. Never hesitate to walk the extra mile to bring a happy smile on your customer’s face.
You might be wondering, how it would be possible for you to keep a track over your previous clients as well as how to keep on pitching the new clients! The idea is simple. Go ahead with a good and powerful BI that can help you to keep an easy track over your client data in one go.
If you are looking for intelligent BI support that can scale up your business performance; you can talk to our Kato team.
Transit to your workplace as per COVID-19 survival needs
COVID-19 has flipped the conventional ways of living a life. The scrambling efforts of start-ups to overcome the huge dip in their revenue growth cannot be denied. But, there is no need to fret it; embracing the new normal is the only solution that can help you to sustain in the competition. Step up and get ready for a quick transition of your workplace in a way that it fits into the shoes of a safe and secure work atmosphere in and aftermath COVID-19 outrage.
How can you achieve it?
Contactless contact is going to be the upcoming trend. What sounds fascinating a few years ago is now going to be a part of our lives. As a business provider, make sure your processes smoothly transition to contactless contact with your co-employees and customers. The precautionary measures such as maintaining social distance, wearing protective masks; frequent use of hand sanitizer should be an essential part of your process in your workplace.
Keep your employees engaged and encouraged
We understand that now is not the time for a business to focus on shelling out money in case of hiring and acquisition of new employees. But at the same time, as a start-up, you need to stick with your employees. Motivate them, encourage them to stay positive and keep on performing, no matter how hard it would be to hit the target!
Apart from professional commitments, make sure you engage your employees in mood-lightening group talks, recreational virtual games and many more. This will be a key factor in helping you strengthen your professional relationships with your co-workers during these tough times.
Switch your business from in-store to on-demand
We are living in extraordinary times. These challenges call for quick adaptations. Switching your business operational settings from in-store to on-demand is one of the responsible attitudes that will help you to go a long way. If you are ready to redesign your work processes to a new holistic approach- there is a great opportunity for you to grow and expand.
P.S.: If you are feeling anxious about how to transit- reach out to us to talk to our experts
This too shall pass!
Has the Coronavirus wave disrupted your business operations? How are you dealing with it? Believe us, you are not alone and no matter how tough the going is, your business can survive! Feel free to connect with us.