These Powerful Tips Will Help You To Grow Your Business & Life After Second Wave Of Covid 19
Covid 19’s second wave damaged many small and medium businesses be it a manufacturing unit, trade unit, or service unit. Though people are thinking that Kirana shops are doing well but the fact is not the same as most of the Indian customers are buying on basic and essential that too for domestic uses.
Indian businesses are standing on pillars of baniya byaj, bank loans, CC, and other heavy interest rate-based fund management and most of them were making decent money, not great money!
Due to two waves of Covid maximum Indian businesses will have to restructure the entire business model or maybe major business structure from scratch to stand again.
Major changes / Tips I (Varun Surana) Recommend
• Cut Short The Fancy Expenses: Those expenses that are not helping in revenue generation cut them as soon as possible, especially all fancy expenses.
• Increase the point of sales: Increasing sales is very much essential and everyone’ll need to sell more so either you expand your branches or go with the online model or maybe some kind of franchise options.
• Increase Product / Service Line: Add some more products/services which are related to your existing business or can be managed with the same family/team in extra/available time.
• Cross Sale / Up sale: This one is the most interesting way to increase sales after a pandemic and digital technology and automation can help you a lot in cross-selling and up-selling.
• Complete restructuring of the team: Maybe you have to bring some new people and say goodbye to non-performing / low-performing assets, change the job role, salary, incentive structure based on the performance of results not just efforts. Good team members should not suffer because of some non-performing team members. Onboard non-performing / less performing team members based on projects/tasks (On Humanity Ground).
• “MOST IMPORTANT” Utilize the digital platforms: If you are still ignoring website, Facebook, Instagram, LinkedIn, SEO for your businesses it’s time to make these activities an important part of business, from cost-saving to revenue generation these activities will help you a lot for sure. Start opting for Digital Marketing Services from well-known agencies like Brand Chanakya.
• Sales Oriented Website: Not just a website, a sales-oriented website means which leaves leads for your 24×7 for 365 days. If your website is not working as a lead generation machine you should contact Team Brand Chanakya for understanding the restructuring process of your showpiece website into a sale-oriented website along with effective SEO services & if you don’t have a website / eCommerce store till now get it as soon as possible, trust me third, fourth and don’t know how many waves will come, but whenever another lockdown happens your business should have some scope to work/sell.
Read More: Importance Of Business Website
• Add one more business in your life: if your business is bulky and can’t be managed without going in, its time to add an asset-light business model/affiliate agency of any business where you do not invest much but if any kind of lockdown happens you have something to work otherwise whole day you ll either read negative news or will pass the time on social media or ludo king.
• Teach entrepreneurship to your kids: if your kids are 6+ years old, start talking to them about business, plans, markets, etc, I know you’ll think like “Abhi Kya Karenege Wo Yah Sab Samajh Kar” Trust me “Abhi Samjhana Shuru Kar Do Kyonki Ho Sakta Hai Baad me Aapke Pass Samjhane Ka Scope Na Bache”.
Trust Me, if you apply all the above 10 changes you’ll be the happiest & satisfied business owner after the second wave & also the next waves will not affect you much.
Stop Reading & Start Doing Now !!!
Let us know in the comment box you are already following any one of these tips!
Founder : Brand Chanakya