Surviving The Pandemic
The Covid-19 crisis could create new opportunities and even generate revenue for businesses.
It seems that the Covid-19 pandemic is far from over but the infectious coronavirus disease can still be brought under control if everyone adheres to the recommended SOPs and get themselves vaccinated. What’s uncertain is the damage caused by the pandemic on businesses, particularly small and medium-sized enterprises (SMEs). Many have suffered great losses, some are barely breathing, so to speak, and others have had to call it quits for good.
However, remind yourself that in every difficulty, lies opportunity. Fairuz Adzahan, who owns FitteratiBake, which sells keto-friendly and low-carb bakes says the lockdown is the perfect opportunity to further create awareness of his products since people are glued to their smartphones. He’s also pursuing online courses, including a Primal Health Coach certificate course to give him credibility to talk about ketogenic lifestyle and healthy eating other than just baking.
For Debbie Teoh, a Nyonya chef, cookbook author and food stylist, she’s been focusing on her business online since the first Movement Control Order in March last year. “Previously, I was actively doing food promotions, supper clubs, catering, food styling, and so on. My online business is currently managed by my daughter, Desiree, a fresh graduate from Monash University. She has been implementing all that she has learned to carry out the administrative work for my online business.” Here, we have also compiled five ways for SMEs to weather the Covid-19 storm.
EXPLORE In order to survive, open your eyes and mind. Look for things that every consumer needs. Capitalise on what your competitors do not have or have yet to explore, so that you’ll be the first to seize the opportunity.
INNOVATE This is the time to think out of the box to find a new, innovative way of doing business. For instance, since many shoppers are now buying almost anything and everything online, shifting to e-commerce would be the best and most brilliant thing to do.
LEARN Another way of bouncing back is to upskill yourself or learn something new to get ahead of your competition. There are many online courses available for free. After all, learning is a journey that never ends and by studying something new, you can grow your skill set and make money out of it.
SOLVE Re-examine your existing business model to see if there are any recurring issues, whether they are technical or complaints from the consumer. Try to find long-term solutions as they could ease financial burden and contribute to a better working experience for your employees.
SEARCH Rise to the challenge by moving forward and scouting for new markets. It might take a bit of time but once it is accomplished, you will only thrive and triumph through Covid-19 and beyond.