Instead of floundering or merely treading water, it is possible to change pandemic into opportunity for your business. It takes ingenuity, effort, and capitalizing on data. Here's the Zen business master approach to it all...
A Quick Guide To Changing Pandemic Into Opportunity For Your Business
You would think that a global pandemic that shut down trade and production would be universally bad for business. But that’s not necessarily true. In fact, some companies are finding opportunities in the devastation ... and thriving.
Remember, when it comes to business, there are no bad situations. There is just untapped potential. Here's how Zen business masters are turning the pandemic into opportunity.
Welcoming New Profit Opportunities
In regular times, companies fiercely compete over every bit of market share. If a brand is making outsized returns, everyone wants a piece of the pie. Over time, competitors chip away at market advantage, and eventually, those same profits could evaporate.
The coronavirus, however, represents a significant shift in the economy. Demand is changing, and new business opportunities are opening up. Additionally, not all business leaders are aware this is happening. They’re waiting for the good times to return, not recognizing that things have changed forever.
Savvy companies can see these trends playing out and are looking to take advantage in whatever way they can. For instance, janitorial businesses are now offering COVID-specific services designed to sanitize buildings and keep workers safe.
Taking advantage of a crisis is about going with the flow and using the energy to create new products and services as well as sell to new customers. If you can get in early, you’ll have a tremendous advantage over your competitors. That's really evolving evolving the pandemic into opportunity!
Finding New Modes of Advertising
Marketing professionals are always looking for new ways to advertise for a lower cost. Finding new opportunities in regular times is always a challenge. But during the pandemic, we see new forms of PR taking shape.
DynamicGifts is a company that offers B2B gift services to businesses. Recently, it showcased face masks printed with corporate logos. Up until now, most masks have been relatively plain. But as the Coronavirus pandemic evolved, we could see the rise of corporate masks - both inside the workplace and out.
Improving Recruitment Processes
Savvy business owners are doing something else right now, too: Focusing on employee recruitment. Unemployment is high, and there are a lot of people looking for work. Some of these people out of a job are exceptionally talented. And those are precisely who smart business leaders want to find.
They know that right now, demand is sluggish, and their businesses are only operating at partial capacity. But they also understand that things will soon return to normal and that they will need brilliant employees to provide the best service to their customers. Hence, they’re now on a recruitment drive, looking for the most talented people and snapping them up early.
Taking Advantage Of Remote Work
Finally, many zen business masters are looking for ways to make remote working work. On the face of it, it seems like a bad idea. People can’t meet face-to-face and share ideas. And employers have historically preferred on-site staff to honestly track their hours.
But the benefits of remote workers can be huge. You can:
- Save on office costs
- Do meetings via video calling
- Give virtual presentations
And you avoid legal and operating overhead involved in asking people to come to physical premises.
