6 tips to optimize your business
Now a day corona virus is the biggest searched keyword and biggest trend in Google search history. This virus are spreading like wildfire and no one know when it stop. Around 30 million small business have already been affected due to the epidemic. However some business are doing good job in this pandemic, because with the help of family friends and the robust economy were able to survive.
Although it is not clear that how long the virus is here to stay. You can devised your operational plan and mitigate the loses, and support to your employees at this time.
Here are some way to optimize your business in this situation.
1. Control yourself and your employee.
Always try to be flexible with your employees. Communications are the keys to pull your operation . Even your business get out of order or in remote, always make any decision related to your business operation in front of your employees. So that they would feel that they are part of the plan.
2. Cut cost where possible
Cutting cost for any employee should be made imperative because it is unsure how long corona virus will stay. It is necessary to know where your business can take the biggest financial hit. You need to transparent with your employee because it comes to the sales forecast and how the business needs to be kick started again after the pandemic.
3. Leave might be a good gesture for employee.
Likely you might not able to pay your employee during the corona virus epidemic. You can always ask to them to take a leave and enjoy themselves until the situation cool down. Before doing this have a look at your business plan. This plan can help you need to make the company to prove yourself and your employee that is still has a future.
4. Loan facility
Covid-19 affected business can take advantages deferent type of loan from GOI. Like Aatmanirbhar bharat scheme, credit guarantee fund scheme for small businesses. An existing and startup business are eligible for this facilities. SIDBI and GOI also introduce a trust name – Credit guarantee fund to rebuild your small business.
5. Take your business online
Taking your business online is the best option in this crisis, as by sitting at home you may as well earn some profit. This will prompt customers to buy your product online to shop their favorite items .
Corona virus will not go easily . we need to learn to live with it. These are some effective hacks to optimize your business in this pandemic.