Community//

How To Not Freak Out When The Economy Got Crazy

Corona Virus’ Economic Impact

Rhonda Swan
Rhonda Swan

The Coronavirus (COVID-19) is spreading quickly around. The outbreak has already led to a major health crisis and creates a major disruption in the global economy as the pandemic takes hold across the world. 

The success in containing the virus — social distancing and lockdowns comes at the price of slowing economic activity. Governments, businesses, and families respond to the pandemic in unprecedented ways, massively and necessarily disrupting the economy in the process. Workers lose their jobs, stocks plunge, shops closed, traveling is canceled.

As pandemic hits the economy, many entrepreneurs and business owners tend to freak out in times like these.

So if you are an entrepreneur or business owner, how can you still maintain your business sales and integrity and maintain a thriving business when things are feeling a bit weird and crazy?

The Help Me Rhonda Show- How To Not Freak Out When The Economy Got Crazy

Opportunities Amid Corona Virus Outbreak

They say that there’s always a reason to be optimistic. But what good can come from all this bad?

It’s a time of major growth and change. Here are some ways you can turn CRISIS into OPPORTUNITY.  

  1. This crisis reveals new needs, which you can solve!
  2. Businesses have been able to serve customers in new ways, and companies have been able to innovate new solutions.
  3. More time for God, for solitude and contemplation.
  4. More interaction with your families.
  5. Opportunity to develop self-discipline and communal discipline, which we are now forced to practice out of necessity to avoid the spread of the virus.
  6. Opportunity to develop better health and hygienic habits.
  7. Opportunity to exercise compassion for the poor and needy.

“Survival Is The Ability To Adapt.”

How does your business coping up with this pandemic?

Is your business model able to survive the changes that will come from the COVID-19 pandemic? 

How can you accommodate your customers’ demands? 

Can you digitize any of your products or services, and start offering them online? 

Can you implement technology to balance any loss of earnings by offering new ways to connect with your customers?

Here are some of the ways your business can still thrive in this time of need:

  • Reinvent your business. 

Determine if your company can switch gears and produce demands needed to battle the pandemic, like medical supplies, masks, or PPEs. It can also be food deliveries or conduct online courses that will give value to your audience. Whatever that maybe, the goal is creating a new process that converts.

  • Shift your sales strategy to online.

Social distancing has increased the adoption of online ordering as people spend more time at home. You can always find ways to keep you or employees earning a paycheck by selling on social media, putting your email list to good use, or using a video tool to reach new leads.

  • Establish a remote work option

With plenty of people already working remotely, there are a lot of free tools business owners can utilize so that teams can stay in touch and keep working even if they aren’t in the same place. Entrepreneurs are expected to rise to the challenge. Get ready for it!

The Thrive Global Community welcomes voices from many spheres. We publish pieces written by outside contributors with a wide range of opinions, which don’t necessarily reflect our own. Learn more or join us as a community member!
Share your comments below. Please read our commenting guidelines before posting. If you have a concern about a comment, report it here.

You might also like...

Community//

How to Run Your Business Amid Covid-19 Pandemic

by Kimsea Brooks
Community//

Lessons for the World from COVID-19

by E. Oluseyi Animashaun
Business
Community//

Marc Mitchell Ravenscroft discusses the business survival strategies during COVID-19

by Toni Mirza

Sign up for the Thrive Global newsletter

Will be used in accordance with our privacy policy.

Thrive Global
People look for retreats for themselves, in the country, by the coast, or in the hills . . . There is nowhere that a person can find a more peaceful and trouble-free retreat than in his own mind. . . . So constantly give yourself this retreat, and renew yourself.

- MARCUS AURELIUS

We use cookies on our site to give you the best experience possible. By continuing to browse the site, you agree to this use. For more information on how we use cookies, see our Privacy Policy.