The current COVID-19 pandemic not only has an impact on public health but also has a major impact on economic stability. Many business actors have begun to experience a decrease in turnover, reduction of employees, or even out of business. This condition is not indiscriminate, both large and small companies experience this. Then how do you make your business survive during a pandemic? By using kibo code quantum, you can handle your business even in the worst of circumstances!
1. Improve Financial Planning and Management
The first tip for entrepreneurs is of course financial management because it plays an important role, especially in times of crisis like this. Expenditure planning must be done more carefully so that the flow of company funds is not hampered. Always prioritize more crucial interests for the continuity of our business activities and set aside additional expenses.
2. Develop Short Term Plans during the Pandemic Period
In uncertain times like this, the next tip for entrepreneurs is to develop short-term strategies specifically for the pandemic. One strategy is to prioritize commodities that are in market demand even though previously these commodities were classified as secondary commodities in the company. However, it cannot be denied that people’s needs are shifting with the pandemic and the implementation of these new regulations.
3. Take advantage of online services
The existence of sales, delivery, and promotion services that can be accessed online is the next tip for entrepreneurs. It’s good that we take advantage of these services as much as possible. Sales, delivery, and promotions can be made online via websites, social media, or trading exchange sites. Also, there is nothing wrong with doing special promotions for ordering via online channels or running a donation program to attract consumers to buy products online.
4. Stay In Touch With Employees
Another thing that is no less important in maintaining business continuity during this pandemic is communicating the condition of the company to employees. Establish clear policies such as policies for working from home, unpaid leave, and quarantine decisions for employees with certain health conditions.
Building good communication with employees not only keeps them calm when carrying out their duties. However, we can also build trust and understanding of their position for the company. If necessary, rearrange the placement of important positions in the company so that employee performance remains optimal.