Starting up a business during the COVID-19 pandemic can be a difficult feat within the greatest of circumstances, and it is also a very complex process to manage.
Many people believe that opening up a business during these trying times is impossible; however, this may still be a good idea. Businesses, despite the global pandemic, can survive and blossom.
Different companies during COVID-19 have adapted to various ways, such as using the services of software development for startups. This has helped numerous businesses survive during the pandemic. Varying protocols exist worldwide, but it still boils down to social distancing, which forced companies to shut down.
Establishing a startup during the COVID-19 pandemic may be difficult, but it’s not impossible. Here are some survival strategies for your startup during COVID-19.
Know the demand of consumers right now,
The needs and habits of consumers have considerably changed during the pandemic, so it’s best to consider how your business will fit your consumers’ lifestyle at the moment. Take a look at food deliveries, for example. Consumers have been using food delivery apps even before the pandemic; however, once the global disaster happened, food deliveries’ demand skyrocketed since people can’t leave their homes.
Another example is pet adoptions since people spend more time at home and sought companionship in the form of these lovely furbabies. Some companies and establishments saw this as an opportunity and started some unique businesses such as pet insurance.
The key here is that despite having the capacity to meet consumers’ demands, you still need to concentrate on what will impact your consumers’ daily lives.
Create a long-term plan
Businesses now look a lot different than it was a year ago, and with the current situation, it may change again. Last, 2020, the United States experienced a recession due to the dire state of the economy. People lost jobs, and businesses shut down. The sad part about this is that it’s happening not only in the US but also in other countries, especially third-world countries like Brazil and the Philippines.
A long-term business plan that anticipates a recession is a good idea before you launch a start-up. You will need good financial planning and thorough research of your intended market as this will ensure your business’s survival, no matter what storm comes your way.
Another good idea is to ensure that your business is “COVID-proof”. This not only pertains to not getting you or your staff infected with the virus but also enjoying and freely moving around with your business during the pandemic.
Be flexible
One of the standard pieces of advice that people give is to be a flexible person. The same is true with businesses. A flexible business should be more adaptive to new processes and methods, even if the previous ones work correctly. A flexible company should not conform to the expected standards and instead, find ways to work more efficiently.
Let’s face it; COVID-19 won’t disappear anytime soon. People and businesses should adapt to this new world to survive.
Strategize an excellent digital marketing plan
Technology has come a very long way. Before, people can only buy items in physical stores. Now, with the advancement of technology, people can buy almost anything online.
With the current pandemic, people have difficulty going to physical stores due to the risk of infection. COVID-19 has made it difficult for both consumers and businesses. With the help of online shopping apps and social media, companies are slowly starting to rise again.
Make sure to utilize technology to its fullest; you may want to sell your products online or promote your services through social media. Plan out how you will promote and establish your business online since this is currently the best platform for your business. Just make sure that you are transparent to your customers.
Utilize Social Media to its full capacity
Social media is currently one of the best platforms for a startup. It’s the best venue for reconnecting with your old customers and establishing connections with new ones. Of course, you will be promoting and selling your products on this platform; however, don’t just stick with that; instead, try to engage more with your customers using your social media accounts and excite them for your products and services.
There are many ways to utilize Social Media fully. You can announce a sale, make raffles, or, if you’re a medical professional, use your social media app as a form of telemedicine app. You just need to be flexible and creative.
With all that said, stay positive and be brave. Believe in yourself and believe that you and your business will survive this pandemic.