Business News: How Business Owners Can Become Resilient In The Midst Of The Covid-19 Pandemic

A virtual conference was conducted in June and panelists from the United States and Africa were in attendance. The main subject of discussion during the conference is how business owners can develop resilience during these trying times caused by the coronavirus pandemic. Many of the viewers were small business entrepreneurs.

The main speakers during the conference include Chief Executive and President of TechnoServe, William Warshauer. William and other spokesperson pointed out that both individuals and businesses across the globe experienced a big blow as a result of the deadly virus. They emphasized that businesses all over the world have been heavily impacted.

The experts in attendance during the conference recommended ways for small and medium scale business owners to become resilient and ultimately rebound from the negative impact of this pandemic;

1: Entrepreneurs Should Develop a Survival Mindset

The inconsistencies within supply chains are among the problems that the international business community has encountered as a result of the pandemic. Consequently, this clear uncertainty promotes an unstable environment for businesses to develop and grow.

Therefore, entrepreneurs need to develop a survival mindset. A good place to start is to look at the business model again and see if it lacks more innovative approaches that can help a business survive and thrive during tough times. Some of those innovative approaches include digital marketing, automation, outsourcing solution, and expansion into new regions and territories.

2: Stay Flexible

Also, experts recommend staying flexible and paying attention to emerging trends during this pandemic era. Again, they highlighted e-commerce and digital marketing models, especially since these approaches have become much more innovative and streamlined to suit mobile consumers and also target remote work. More so, it has become important to develop local supply chains since the international supply chains are no longer reliable in the meantime. This in turn will help boost the local economy and strengthen economic growth.

3: Reshape Your Storefront

If your conventional store is still opening during the pandemic, you should adopt steps to make it approachable by customers and would-be customers. Consumers want to see signs of staying safe when they walk into your store – hand sanitizers placed at strategic spots, sales reps wearing facial masks, and other safe sales techniques.

Indeed, it’s all about having an open mind, a survival mindset, and being flexible to new way of carrying out your business more effectively and innovatively.

Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams