In early 2020, the pandemic situation had a significant impact on economic instability in various industrial sectors. This is shown by the rise of layoffs and small or large salary cuts which have led to an increase in employees choosing to resign, a decrease in people’s purchasing power, and a lack of investment in the midst of uncertain security conditions in the country’s health sector. Because of this, many business owners in Indonesia have suffered losses and have decided to go out of business.
Entering 2022, many companies have successfully faced crises and emerged from the slump due to the pandemic. However, there are also many business owners who are still working hard to keep their businesses running well. Many industrial businesses have not managed to avoid the slump of the pandemic crisis due to various factors. Starting from the company’s messy work system, the lack of ability to compete with employees with the skills needed in today’s job market, to the lack of strategy in managing the entire business.
With the increase in Covid-19 cases, business actors must think seriously if they want to survive during the pandemic. What should the business actors do? Here are various business tips that you can apply to develop and ensure the company’s sustainability during facing a pandemic.
1. Get Used to Implementing Remote or Hybrid Work Systems
With the outbreak of the pandemic, it has been proven that even though employees do not come directly to the office every day, business opportunities to achieve optimal performance are not impossible. By implementing the right way to manage employees remotely, you can get various benefits from this work system. Starting from cutting operational costs such as transportation and consumption, increasing work-life balance, to the opportunity to provide inclusiveness in the workplace because of the ease of access to connect with various talents in any part of the world, without being constrained by distance.
2. Find Solutions and Innovation
By reducing activities outside, you have more free time than usual days. Do not make the moment of quarantine being lazy and mope. However, instead, at this time you have to start analyzing, finding solutions and creating new innovations. For example, by conducting control and evaluation of targets and previous progress that has been running. After understanding the shortcomings that must be corrected and the advantages that must be maintained, then start looking for solutions to deal with them.
3. Focus on Developing Company Branding
Developing a brand strategy can be one of the most difficult steps in the marketing planning process. Often the element is the biggest challenge in business is creating a corporate identity. Brand identity will be communicated repeatedly, in various ways with frequency and consistency throughout the life of the company. The power of a brand depends on the ability to focus. That is why defining your target market will help strengthen your brand’s effectiveness. The key is knowing who your target market is.
4. Make The Business Visible in The Market
Consider what makes the business unique. Who are the customers or clients and what is the marketing strategy? Then, after knowing it, observe how competitors and most importantly pay attention to economic conditions to be able to get the right time to innovate. Highlight the uniqueness of the business you run therefore it has a special place in people’s hearts.
5. Deepen The Business Knowledge
In doing business, you must have basic knowledge about business. There are various sources on the internet that have provided various materials. Make the best use of your time, to add knowledge and insight about business. You can get fun material in the form of questions from blogs, social media, videos, webinars and even podcasts that discuss businesses.
6. Show Commitment
When the pandemic spreads and businesses are certainly in a difficult position, this is the right time to increase the trust of your customers and clients. Try to convince them that the business you established is committed to continuing to meet the needs of its customers or clients. By maintaining and improving the quality of business products and services, customers will know that you are serious about this business.
Those are various tips to ensure business continuity and success during the pandemic. No one can deny that maintaining a business in the midst of a pandemic is not an easy thing to do. In times like this, business actors are required to be able to adapt as best they can so that their business can still run. Therefore, a mature business strategy is needed, an effective budget arrangement and well-planned marketing.
Stay tuned for updates on our official website to receive the latest information during the pandemic in Indonesia. We are always ready to provide you with the latest information or regulations that you might need to know about. Please don’t hesitate to send your question to our email firstname.lastname@example.org.
Source: Legal Team Indoned Consultancy
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