10 important tips for entrepreneurs on behalf of Mr. Alok Sharma, CEO, Shycocan.
Over the last year, we’ve lowered our resistance to lockdowns as we understand their importance in keeping us safe. However, from a business point of view, it has been a mixed bag. Some businesses stand to gain from it, while many others have found it difficult to stay afloat in the ‘New Normal’. If anything, we’ve lost more livelihoods than lives in this pandemic. And we can’t afford to do that anymore. Entrepreneurs come with various leadership styles to combat unprecedented situations, but, keeping business going doesn’t have to mean that growth opportunities can’
As waves of the pandemic continue to surge at periodic intervals; businesses are yet to get back to business fully. The New Normal is anything but normal. And if you are a business owner in this current context, you will have to pivot to new thinking to keep the business afloat. After all, entrepreneurs like you are some of the most resilient breed of human beings we have.
You may be a nimble footed business doing a few of these things already, but it just helps to look at the possibilities for you to grow your business during these times.
Tip 1: Data Management for business continuity
Data is everything. Keeping it safe is as important as making it available to the key employees. Ensure continuity in your business by transporting all your data to the cloud. You and your employees can work from anywhere and ensure your business continues to run smoothly.
Tip 2: Go Digital or go home
Lockdown doesn’t have to mean the end of everything. Especially relationships with your customers. Keep in touch with them using digital tools. Organize workshops, webinars, conferences and keep the momentum going. Engagement doesn’t have to suffer given that everyone has adapted to the new normal.
Tip 3: Social Media Marketing
The drop in pace around us has thrown up some time for learning. Take a free course online to learn how to work on your social media marketing skills. Use these skills to reach relevant audiences online while they stay at home and scroll endlessly.
Tip 4: Stay relevant
Make things relevant at a product and marketing level. See how you can add value to the environment around you. Look for ways to ensure there is a new found relevance to your brand given the new context. Look at innovative schemes and offers for your loyal customers. Keep them interested. Keep them engaged.
Tip 5: Staff Health & Wellness
Your employees are the backbone of your business. Keep them covered with insurance and ensure you provide a safe environment for them at work. Enrol them for the vaccine and help them deal with any untoward situations that may arise in their lives or their family’s. At this unfortunate hour, the most important thing is to communicate with them and show empathy towards their needs too.
Tip 6: Plan for no plan
Uncertainty is all around us. From a business perspective, the environment can change drastically around us. Be nimble footed and take quick and sharp decisions.
Tip 7: Embrace new technologies for sanitisation
Emerging technologies for the safety of your business establishment is out there. Read up, go and seek demos to understand how new devices, tech can be used to keep your store or office space safe. Traditional methods will always be available, but in the world of smart technology, devices like the Shycocan can make spaces extremely safe from the transmission of viruses in the current pandemic.
Tip 8: Network from home
You don’t have the luxury of stepping out to network with partners, customers, and prospective clients anymore. But, that doesn’t mean you should stop networking. Focus on relationships that will help you in the short term and the long terms. Collaborate with other business owners to find news to reinvent your offerings. When business is back to normal, these will come very handy in the next phase of growth.
Tip 9: Focus on mental health
Everyone has been through a lot. Whether it is you or your employees, start carving out time for recreation, team bonding and just relaxation. Look at adopting a 5 day week if you can. Get staff on rotation to ensure that they get time off. And ensure that the pressure doesn’t get to them where they can’t differentiate between personal time and office time. Mental fortitude is very critical to overcome the challenges we face today and we need to build it with great care and concern. Go easy on yourself and stop being critical of yourself in these times.
Tip 10: Follow the consumer
People’s lives and priorities have changed due to the times we live in. The consumer profile you once had, is no longer valid. Understand how they have changed and cater to new and emerging needs. Who knows, you might unlock a new business opportunity whilst doing this exercise.