The coronavirus pandemic has hit the world by surprise. This pandemic is also changing the way people run their businesses. Experts are still trying to assess the magnitude of financial loss caused by the COVID-19 crisis.
One part of the economy -the small businesses- are going to be the most affected thing by this crisis. These businesses are yet to see harder days as the full affect of this unpredictable situation unfolds. This crisis is unique in itself, and the businesses have never gone through a phase like this. This situation is pressing the entrepreneurs and small business owners to adapt to these changes. They’ll need to do things differently in order to survive this situation.
How Sharifah Hardie Is Helping Businesses In these times
One thing that small businesses owners need the most in these times is expert advice and resources. An expert advice can be an worthy example for an entrepreneur to follow.
The Round Table Talk Show with Sharifah Hardie is doing exactly this to help small business owners. The talk show brings experts from different walks of life to the table. These experts offer advice, tips and guidelines for the small businesses to follow during the COVID-19 pandemic. Small businesses can follow these ideas to survive and even thrive in these testing times.
The show has invited many successful people to help the young generation and small businesses steer clear during these times. The show airs at 8:00 AM PST on weekdays. To learn more about the show, to participate as a guest, or to become a sponsor, you can visit AskSharifah.com.
Meanwhile, you can follow these tips to keep your business afloat during the COVID-19 pandemic.
Cut Unnecessary Expenses
If you’re earning less, maybe it’s time to cut on unnecessary business and personal expenses too. You can easily find out the unnecessary spending in these though times.
Only focus on the vital processes of your business, and stop spending on useless things that won’t help your business grow. You can keep these expenses on a low even after the pandemic is over.
Analyze Your Competition
Analyzing and copying your competition is always the best strategy to go forward. See the businesses who’re successfully making it through the pandemic, and try to follow their footsteps.
Figure out all the strategies that the industry is currently using, then filter out the ones applicable to your business to see the results. Faster you adapt to the changes, faster you’ll be able to resume your business operations.
Think About The Mid Term
The short term is always going to be controlled and dominated by the pandemic. But you can think about the mid term to adopt tour business accordingly. Think about how your customers might change their shopping habits even after the pandemic is over. Are they converting to online shopping? Will the traditional business model make any sense after the COVID-19 pandemic? These are the questions you need to be asking yourself.
In the meantime, keep your eyes on the experts. Keep watching the likes of Sharifah Hardie. She is doing a great job by streamlining the expert advice in these hard times.