Top Tips for Rebooting Small Businesses After Pandemic

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Top Tips for Rebooting Small Businesses After
Pandemic

• By JBM

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The Pandemic After

• A staggering number of businesses are expected to
  close their doors because of the coronavirus
  pandemic.
• To help mitigate this, the Dubai government has
  promised an economic stimulus package.
• Whilst this may provide some relief, the question
  of what you can do to beat the odds remains.
• Here are Tips from business mentoring consultants
  at Jupiter Business Mentors

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Short term Survival is Important

• Lowering expenses, cutting down on costs, going
  lean, extending payment terms, and focus on debt
  collections
• Managers need to take on more responsibility and
  inspire others.
• Focus on what has worked previously, look at
  strength areas and redeploy to adapt.
• During a crisis, needs become far more important
  than wants, facilitate solutions, support
  collaborate.

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Short term Survival is Important

• Look beyond a traditional one-size-fits-all-approa
  ch
• Create product value whilst keeping pricing right
  
• Develop digitally - be more accessible through
  online programs and e-commerce.
• Increase your presence online by creating useful
  and valuable digital marketing content.
• Be self-aware, Reassess, redefine and change
  direction.
• Foster partnerships based on strengths and
  complimenting skill sets.

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What to avoid during a pandemic crisis

• Dont blindly cut down manpower
• People are a bridge between where your business
  is today and where you want it to be tomorrow.
• Paying attention to the emotional needs of
  employees.
• As an alternative, both men suggest cutting
  costs, not overspending and staying clear of
  undue risks.
• Investing in the growth and development of
  businesses.

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What to avoid during a pandemic crisis

• Best time to revamp your systems, operations, and
  processes.
• Rethink strategies, reviewing targets and budgets
  
• Dont take undue risks or take on too many things
  together.
• Many businesses are industry specific and whilst
  there might not be much movement in the market,
  it doesnt mean you stop.
• Consider Mentoring and if you can, hire a
  consultant. A financial advisor as a mentor will
  be a definite plus.

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