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!

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