As Corona is spreading its wings all over the world, same way the Anxiety & worries of the Entrepreneurs are growing too. Anxiety about the market & sentiments post corona and worries for How, When & What’s about Business ?
When the Flow of negative information is huge, it overpowers the state of Positivity in the minds of Individuals. As an Entrepreneur where a lot of fronts to be taken care in Business ,
What will happen to business ,How Liabilities will be managed ,when will they be fully operational . These all are creating a state of Hopelessness & it gives birth to Insecurity. This insecurity which is in us because of our believes & habits which restrict us from hoping.
Just talking about Hope doesn’t mean that we are hoping !! When you hope in true sense , you require corrections in your present orientation. Abstract is not sufficient, you need concrete.
In this state you are not looking at the bundle of opportunities
You stopped feeling that it was you who established this business against all odds ,
you stopped believing in your mind, you stopped believing your strengths , your never say die attitude !! When all the economists , trade pandits are talking about the negative growth , the coming slow down , it’s you who need to Hope against the Hope.
You know who your target customer are & which economic class you serve, now You need to find out the customer behaviour & the effect of corona crisis on their pockets. will there be any shuffle in the customer loyalty / brand loyalty ? Then you need to recalculate the costing & selling.
Never forget that the cycle of manufacturing & selling will exist e.g. for textile industry there may be a little slow down but Weddings will be there, Births, Deaths , Celebrations , professional uniforms etc. Demand will surely be there but yes the Purchasing power may be a little lower.
Here you need to see how you can re innovate the business processes to excel . You need to plan well ahead how you will be taking leap against your competition. How cash flow can be managed .
What skill part you can attain during this period & how your team can be trained through online approach, how the bottlenecks of your business can be worked upon during this period.
Be sure – the Cycle of products will be maintained ; everyone in the industry may be your vendor, employees , support system are ready to cooperate too take your business to the next level.
Be sure the Nature works with you whichever side you go
Stay positive stay safe stay healthy !!
By Kiran Verma, Pankaj Takkar