Plan a Business Strategy to Be Ready to Face the New Normal
Businesses that can withstand extraordinary events, such as a pandemic, are expected to grow bigger in the future. The problem is, not all businesses can exist. Never mind existence, it’s still difficult to just manage inventory. So, we need the right business strategy to be able to deal with a pandemic storm.
No one can predict when the pandemic will end. Even the second wave is ready to come life-threatening. This is a kind of warning for business continuity. Is his presence more dangerous than the first wave?
As long as the vaccine has not been found, positive cases are still increasing, the Corona Virus will still haunt the public. Although the “Stay At Home Order” has been implemented in several areas it has not been able to narrow the space for the Corona Virus to move. As a result, it affects all sectors.
Starting from a mass reduction of employees to businesses ending in collapse. As a businessman, you must pay attention to business developments. The new normal era could be your turning point, and it depends on the business strategy you implement.
Therefore, a gradual business strategy is needed to support business needs. Regardless of the strategy, you are sure to adapt immediately. Check out the business strategy below
1. Reset the Business Plan
The business strategy that you pursued in the first wave could be successful. However, whether this strategy can last long? That’s the big question. Because you have to prepare from plans A to E to face the second wave of Corona Virus.
For example, you are implementing a culinary business. To avoid coming face-to-face with customers, you change it with online payments. This strategy was quite successful. At least your business will still survive.
The problem is, almost all businesses, especially culinary, now rely more on online. Competitors compete with your business. It’s a good idea to start fixing your online store.
2. Manage Budgets Better
As a good businessperson, now you also need to adhere to health protocols. In your shop, for example, employees should wear masks and, if necessary, face shields. Not to mention, providing hand sanitizer and handwashing soap. This is also added to the temperature checking tool for customers who want to visit your store.
Therefore, you need to manage your budget accurately. Don’t let spending during a pandemic reduce income. You need to sort and choose which operating budget is needed is neither short nor long.
Thus, your business will continue to run effectively. The business strategy of managing the budget needs to be implemented immediately. The new normal era can be an appropriate phase for the development of your business.
3. Capital injection
The capital you used during the first wave of the Corona Virus could be eroded. Mainly due to decreased customer consumption of your product. As a result, income decreased but operating costs continued.
You are also committed to continuing to pay employees properly, updating the rules of your business, and spending a small amount on health protocols.
Therefore, you need to increase your capital with a loan. The condition is that your report must be well organized so that borrowers believe that your business can still run.
A business strategy like this requires care and caution. Do not let you need a lot of capital but it is not following the business plan.
4. Arrange the Timeline Early
The era of the new normal has been echoed in recent weeks. However, the threat of the second wave of the Corona Virus is still in the minds of businesspeople. To anticipate this, you need to design a business strategy appropriately and carefully.
Therefore, you need to compile the timeline early. Prioritize the needs that are important to your business. Do you prefer to manage product stock or increase business capital? Adjust to a business plan.
A careful timeline will help your business grow. Don’t get overwhelmed in building a timeline. If necessary, discuss it with your business friends.
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