Almost a year ago, the COVID-19 pandemic sent the whole wide world into a global health crisis that had a snowball effect on businesses everywhere.
However, entrepreneurship is all about thriving amidst adversities, states entrepreneur Sean Smutny. Sean shares three ways small and medium businesses can turn things around during these challenging times as markets reopen.
1. Adapt Quickly
One of the core pillars of entrepreneurship is adapting to change, states Sean. For survival and success during such emergencies, businesses must wear their innovative hats and evaluate how they can innovate new products or services to adapt to the new normal. He recommends upskilling your staff to meet new business requirements and brainstorming new ideas to diversify product offerings. Identify pain areas of your industry and formulate solutions that can address those problems.
2. Say Yes to Online Operations
Every health organization has recommended social distancing as an effective means to contain the coronavirus outbreak. In such times, businesses must take their operations online to every extent. Be it allowing its employees to work from home or enabling online shopping and contactless payment systems, businesses must speed-up their digital transformations, adds Sean.
3. Rethink Your Marketing Strategy
A BS in Business with a minor in Marketing, the CSUS alumni states that marketing is the key to attract potential customers and generate revenue.
Businesses must rethink their marketing strategies during these unprecedented times. While Ad spends dry up, brands can take the organic route via social media platforms to connect with their audiences and support each other as a community, elaborates Sean.
Sean Smutny believes that challenges often prove as a blessing in disguise for entrepreneurs. During these turbulent times, businesses that have stayed resilient and innovated themselves have eventually witnessed their sales skyrocket.