How to respond to the post-virus era: relaunch your SME after the stormComercial y Ventas | Artículo
- Febrero 2020
Clearly, the effect of the coronavirus will be felt for a long time, but this will pass and options will arise. Globally, doubts are now in everyone’s mind, but for example in Asia we can already see glimpses of what the next step might be. To have a company or to run it is to make decisions. All the time. And this time, it will be no less. The doubt is global and everyone is in the same situation.
According to Forbes, more than 38% of companies have seen their customers' demand for services and products reduced. That's a lot. It is normal that fear and shock are present in everyday life. No one knows for sure what will happen in the short, medium nor long term, but there is something that separates us from the previous crisis of 2008, and that is that the current one is not born from a financial crisis. It is also different insofar as everyone, leaders and super-organizations are already taking action.
At Social and Sons, as entrepreneurs, we try to be in contact with the community. A large part of which is reviewing budgets and short and long term options. Most of them agree on one point: not to get into too much debt in the short term and to diversify, as well as to try to innovate and, above all, to minimize damage. Crises can also mean opportunities.
Here are some ideas that can help you find ways to relaunch:
- There are "exotic" business opportunities. For example, some companies that had experience with robotics management for B2B have reinforced their investments to increase their production. In China, robotics is gaining presence among consumers. There are already many affordable robots used for cleaning or picking up packages to avoid contact between people.
- Some AI and data development companies have realized that they can adapt to the present moment by putting technology at the service of projecting situations and studying future demand. Services such as geolocation and movement detection are on the rise. Many times, it is necessary to learn and evolve.
- You can go from offline to online. We have seen how many restaurants and shops have had to close momentarily. Until then, their owners had not realized the capabilities of online or marketplace deliveries. This can significantly strengthen your business to offer these services and even refocus your project. For example, in China many food chains with physical stores reinforced their online service and now have a stronger consumer base in both areas.
- It is worth diversifying, as more options will emerge from this crisis. Innovating around new needs will be a great opportunity. It is very likely that there will be changes in the consumer. Environments such as health, B2B and remote services can be a great opportunity to relaunch your SME. Think about services such as Zoom or Glovo: both have been strengthened.
Be prepared to have a faster recovery speed than you expect. This storm is going to be tough, but it's going to pass. And when it does, there will be options for relaunches. In the end, it's all about adapting and moving fast.
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