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Top Tips for Rebooting Small Businesses After Pandemic

Top Tips for Rebooting Small Businesses After Pandemic

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Top Tips for Rebooting Small Businesses After Pandemic

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  1. Top Tips for Rebooting Small Businesses After Pandemic By JBM

  2. The Pandemic & After • A staggering number of businesses are expected to close their doors because of the coronavirus pandemic. • To help mitigate this, the Dubai government has promised an economic stimulus package. • Whilst this may provide some relief, the question of what you can do to beat the odds remains. • Here are Tips from business mentoring consultants at Jupiter Business Mentors

  3. Short term Survival is Important • Lowering expenses, cutting down on costs, going lean, extending payment terms, and focus on debt collections • Managers need to take on more responsibility and inspire others. • “Focus on what has worked previously, look at strength areas and redeploy to adapt. • During a crisis, needs become far more important than wants, facilitate solutions, support & collaborate.

  4. Short term Survival is Important • Look beyond a traditional one-size-fits-all-approach • Create product value whilst keeping pricing right • Develop digitally - be more accessible through online programs and e-commerce. • Increase your presence online by creating useful and valuable digital marketing content. • Be self-aware, Reassess, redefine and change direction. • Foster partnerships based on strengths and complimenting skill sets.

  5. What to avoid during a pandemic crisis Don’t blindly cut down manpower People are a bridge between where your business is today and where you want it to be tomorrow. Paying attention to the emotional needs of employees. As an alternative, both men suggest cutting costs, not overspending and staying clear of undue risks. Investing in the growth and development of businesses.

  6. What to avoid during a pandemic crisis Best time to revamp your systems, operations, and processes. Rethink strategies, reviewing targets and budgets Don’t take undue risks or take on too many things together. Many businesses are industry specific and whilst there might not be much movement in the market, it doesn’t mean you stop. Consider Mentoring and if you can, hire a consultant. A financial advisor as a mentor will be a definite plus.

  7. Jupiterbusinessmentors.com Mentoring for success.

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