Thriving Amidst a Pandemic: A Business Owner's Guide
We are living in a world where no one knows what will happen next. Experts are coming up with theories, the religious are praying for a miracle, scientists are scrambling to find a solution, and everyone else are just holding their breath for the next news to break. In all these instances, we’ve seen economies suffer and businesses fighting to keep afloat.
Businesses, from the start of this pandemic, have been forced to enter unknown territories as the new normal abruptly started. From new employee dynamics to technology playing a very important role to striving in a struggling economy – everywhere around the globe, businesses shifted to adapt to change.
We have all changed the way we equate output with presence as we allow employees to work from home to arrest the further spread of Covid-19. Businesses have learned that an employee does not necessarily have to be physically present to be able to perform tasks and meet the desired outputs. We have all seen the benefit of having absolutely zero commute in maximizing employee time and efficiency in reporting for work or attending meetings.
Furthermore, top management reached out and communicated with their employees more, making sure that they are equipped with everything they need to be able to fulfill the jobs while working remotely. After all, during these unprecedented times, everyone needs to be involved in finding solutions to keep the business running, no one wants their business to fail.
Because everyone is now working from home and asked to stay at home, we have all entered the digital world. Although going digital is an idea we have all known for quite some time now, it is not in the top list of plans for most companies. This is where the traditional meets the new – the time to build a strong online presence. May it be in social media, a website, an app or just ads; businesses need to be where people are, and right now – everyone is online.
Now, we go to the reason for all these, the bottom line – financials. We have all been taught to save for the rainy days, 6 months of financial stability is ideal, but to most this is not the case. When all is going well, it is easy to forget about the 6-month rule. We tend to live day by day, revenue by revenue, but ever since the pandemic started, without warning, businesses had to reassess their financials and evaluate how long they can keep their businesses afloat with very minimal or even zero revenue. The best thing to do is to be proactive and respond, keep building on your financials and keep it as strong as possible. Eliminate nice-to-haves to prioritize your basic needs and make every profit count.
This pandemic has taught us that the present times call for inclusion rather than exclusion – we have to work together to be able to survive. Businesses need to start acknowledging their responsibility to help the public survive the crisis and find the balance between serving the community and making a profit. We have to change the way we think and start exploring what is unfamiliar to be able to thrive.
We, at 1625Tech, believe that these trying times are just a push for all of us to innovate and see things in a different way. For instance, why reduce manpower hours and let the efficiency of your business suffer, when you can just pay 70% of regular salary and retain the same number of employees, working the same number of hours to keep your business running as it should. Or build a strong digital presence without breaking a sweat by letting the experts work their magic on your brand in the online world.
Let us work hand in hand in making sure that your business continues to grow during these trying times. You do not have to make all the hard decisions yourself; we can be your partner in fighting this pandemic for your business.