The COVID-19 Pandemic suddenly changed the way businesses operated. Some businesses could not even cope with the sudden lockdowns, and they had to shut down completely. Even Yelp has recently reported several businesses’ permanent closure, and this figure has reached about 97,966. It represents about 60 percent of the total number of businesses that have completely shut down and have no reopening chances.
Eric Dalius – Gear up for 2021
Eric Dalius is a notable business expert who says that the pandemic should not stop businesses from operating like before. There are specific ways via which companies can cope up with the Pandemic. He says business owners have invested so much money, time, and effort in their companies, and just because of the coronavirus, operations do not have to stop.
You do not know what the future holds in store for you. Being the owner of a business means you need to fortify your company, and, in this context, he says 2021 is a year of change. If you want to survive the Pandemic, you need to focus on innovation as Steve Jobs had once said that the difference between a leader and a follower is innovation. If you want your business to become a leader in the industry, you need to innovate.
He adds that 2021 is a new year and will bring in fresh challenges. He lays down the following tips when it comes to surviving the Pandemic-
- Be visible to your customer – Make sure you are there in the customer’s mind. These means continue with your marketing efforts. You can reduce the budget for your campaigns but ensure your business appears before the customer in 2021 so that they know you are still around.
- Bank on the best employees for business tasks – Valuable human resources will bring a key difference to your business in the Pandemic era. Besides hiring the best minds for the job, you should ensure they are trained and rewarded well.
- Protect your assets – Ensure your assets are secure and protected. You do not want your business assets to suffer during a legal court case. You can even risk losing them in a legal battle.
- Focus on budgeting and finance – Budgeting is crucial for the survival of your business. If you skip creating a budget, you will get lost and might suffer financially. Ensure your business has an accountant that keeps track of all the money coming in and going out of the company.
- Be Flexible – How adaptable is your business? No one was prepared for 2020, and everything had to shut down. Zoom calls, online education, quarantine, and social distancing became the new normal. 2021 is uncertain too, but the biggest weapon your business has is to adapt to change.
When it comes to business survival in a pandemic, ensure you keep the above tips in mind. Brick and mortar businesses whose primary goal was to serve customers in-person should embrace online tools to ensure their product/service delivery and customer interaction does not cease.
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. Eric is also the host of weekly podcast “FULLSPEED” which is a podcast that features interviews with groundbreaking entrepreneurs from a variety of industries.Eric is also the founder of “Eric Dalius Foundation” where he has created 4 scholarships for US based students. Follow Eric on Twitter,Facebook,LinkedIn,Instagram & also on Entrepreneur.com