Many businesses focus more on surviving when facing challenging like now. The global pandemic has brought many challenges and difficulties to every type of business around the world. The impact is so huge that only a few who could survive. While surviving is the main focus during a crisis, it is still possible to take some actions so your business can keep thriving in the middle of the storms.
How your business can thrive during tough times
Facing crisis like global pandemic this year has taught us all how to adapt, adjust and innovate. This tough time is a learning opportunity for us to learn more about handling difficult, unexpected times. Business is possible to survive crisis. More than that, it is still possible to thrive. Here are some ways you can consider to scale your business even during tough times:
Innovate by expanding your addressable market. The pandemic is still going on and people will be staying at home still and spending their time there. Thus, you need to adjust more your target market. And allow people to test and use your service or buy your products in a way that works better for them on their own terms. You can offer a free-trial with easier payment-method.
Build strong digital team. Working from home is still the best policy to follow in response to the global pandemic. It is predicted that even after pandemic WFH will stay on trend. Working remotely but productively has been seen as good method for growing business. However, it means that you need to restructure your team. Make sure to have the right people to be in your digital team. Virtual working allows every members of the team to work and think creatively. You can also hire more people who have skills you need to scale your business.
Adjust your management style following the remote work. Remote situation should not be a barrier to thrive. It can be a situation that provide more opportunities to grow. Management style can be adjusted to facilitate every members of the team to share opinions freely. Also, more relaxed work environment during remote work is possible and can impact everyone positively. You and team members can also reach out more people without dealing with commuting issues.
Accelerate your business operation by automating things that can be automated. This way, things can go efficiently without wasting too much time. More automation means more things you can focus on such as focusing more on your customer experience. Automation can also lead to more satisfying customer experience because of more accessibility to reach out each other.
Reconnect with your values. With how the global pandemic affecting, many businesses forgetting their own values and mission. It is time for you to revisit those so your values are aligned with the situation. You can show where you stand for in this situation, showing more of your care to them in empathetic and authentic ways. It gives you opportunity to connect more not only with your values but your customers