Is
your business struggling hard due to this Coronavirus pandemic outbreak?
Are you figuring out ways to mitigate risks in your startup business? Also, struggling hard to retain your employees?
Well,
all your questions will be answered! Obviously, the situation is crippling,
especially for small businesses. Every minute there’s a new case flying and
make situations worse throughout the world.
In
my opinion, a holistic approach is required to deal with the situation.
Moreover, positivity is what you need to spread to protect your employees and
support your customers!
Come up with something new, interesting and innovative during this period of lockdown to lessen the impact of COVID-19 on your business.
Now,
here I am mentioning some of the quick steps that you definitely need to take
for your business to mitigate the risks and plan further strategies.
Let’s
go ahead!
Step
1 – Communicate with your Customers
During this period of ultimate crisis, it is essential that you communicate your problems or struggles with your customers clearly. Don’t keep them in any dilemma!
You
have to make them understand what your business is going through. Customers do
understand the circumstances and empathize with the businesses too!
What
if you cannot them their service or products? But you can at least keep them
engaged through social media platforms or run some Quarantine Gamesto
provide them with discounts and offers to shop when lockdown period gets over!
Step
2 – Protect your Employees
The situation is critical for everyone. Yes, including your employees too! It’s quite understood that you must have made a work from home policy for your employees, but don’t be too rigid about it. You will have to understand if any emergencies come up in their family then deal within a peaceful manner.
Adding
on to it, as you know the circumstances are extremely critical, thus make sure
that your employees are doing their bit to keep themselves and their loved ones
safe! I simply meant Social Distancing and all Quarantine preventive measures.
Step
3 – Create an Emergency Plan
All business owners are busy in creating plans to protect their business from the adverse effects of Coronavirus. If your business hasn’t’ had any emergency plan before, then plan and create it right away to minimize its effect!
Emergency
plans not only include company plans but it also layout some strict measures
that your organization need to take to protect your employees as well as a business
during such situations of crisis or emergencies.
CONCLUSION
To conclude, the above listed quick steps will help you and your business to maintain balance during the COVID-19 pandemic outbreak. To mitigate the risks and impact of COVID-19, it is essential to plan strategies well in advance, be it for the employees or customers. For more, you can get in touch with the evolvers experts to understand what all steps you can take other than the above to lessen the impact!
Are you worried about the performance of your venture? Every reputed
business owner desires the lion’s share in the market. Some feel that this task
is rather challenging. I have a different theory. The success of your business
depends on various aspects. Customers play a vital role in the growth of the
venture. Owners of top startups in India also stress on this
factor.
The business owners offer goods/services for target clients.
Multiple organisations provide the same facilities. Why should a client pick
you over the others? Customers demand high-quality goods/services at reasonable
rates. A company that meets these demands can remain at the top of the charts.
I meet several young business enthusiasts. They assume than an
extensive promotional campaign can rope in clients. It is a common myth. I urge
such individuals to get the real picture. It is unwise to think that you can
fool the customers. The business owner must take the necessary steps to keep
the clients happy. At Evolvers, the experts can guide to
attain this goal.
Clients and Business Success
My experience in the trade sector says that a business owner must deal with different clients. You can convince some without much hassle, while others do not give in with ease. I feel that each venture owner must hone client assessment skills. You need to communicate with the clients and understand their requirements.
The evaluation enables you to suggest a befitting good/service. You
cannot use the same strategy for every client. Client assessment highlights the
technique that can assist you to finalise the deal. The successful
startups in Indiahire
experienced client consultants for this. A small organisation may lack such
resources. In that case, you must develop the necessary talents.
I feel that an entrepreneur must try to convince the probable
clients. But he/she should never push too hard. It creates a negative
impression in the mind of the client. It blocks out the chances of a successful
deal. Apart from this, it mars the reputation of your company.
An aggressive approach can irritate the client. You must never take
that path. Each business owner must know when it is time to back off. I suggest
you let the client ponder on the facts and make his/her decision. My blogs
on client retentioncan help young business owners.
Can You Make All Customers happy?
I have encountered amiable as well as angry customers. The patrons
may become angry due to various reasons. Some are unjust, while others are
justifiable. Every business owner must tackle angry and rude customers. You
must listen to the issue and resolve the problems. Your behaviour and response
can make or break your reputation in the market.
The owners of small companies feel that they face such issues. The
truth is far from this. I converse with the owners of successful startups in India. They
often face similar challenges. Established companies have a customer grievance
settlement department. If a customer has an objection, he/she can approach this
department.
The client assistance executives can listen to the issue. They can
explain the matter to the customer. These executives can forward the complaint
to the higher authorities if they feel the need. Most often, these executives
can settle the grievance as per the company policies. Small startups must take
a different approach.
Sometimes, the clients can make unjust claims. I advise
entrepreneurs to keep calm. The business owner must search for a positive way
to settle the matter. It makes the clients happy and safeguards the reputation
of the company. I suggest you learn from such mistakes and take corrective
measures. Adaptive
and predictive project management strategies can come to your rescue.
Young entrepreneurs can make mistakes. These offer in-depth
knowledge about business operations. A management degree can assist you to
monitor the various aspects of the organisation. But these institutes cannot
impart client handling skills.
My experience says that business owners must develop and evolve these traits
over time.
Tips to Appease Angry Clients
As an entrepreneur, my primary objective is to make the clients happy. I offer the same guidance to business enthusiasts. Contented clients can refer your goods/services to others. It can increase your customer base. Apart from this, positive word of mouth promotion can boost your market standing. You must never give the clients an opportunity to complain.
You may fail to stick to this code. The clients pay a certain sum
for the goods/service. If they do not get the best services, it may anger them.
Here are some constructive ways to handle such situations.
Stay Calm and Polite
An unhappy client can act out. But you must maintain a calm
demeanour. An upset customer is one of the many challenges
of business growth. You must develop effective strategies to counter
these hindrances. If both parties lose temper, it can lead to chaos. The
awkward verbal exchanges may not die down. Sometimes, the matter can get out of
control.
I suggest that the venture owner must maintain his/her calm. It
prevents the worsening of the situation. The client can lower his/her tone
after some time. It creates an appropriate environment for civilised
communication.
Listen and Connect
I talk to young businessmen whenever I get the opportunity. Some handle unpleasant situations like a pro. Others lack knowledge about how to handle angry customer. I believe that communication can pave the path for dispute settlement. Hot-headed entrepreneurs lack the patience to listen to their clients. These businessmen want to place their side of the story. It creates the ideal environment for an awkward verbal exchange.
I feel one can eliminate such chances with ease. I advise business
enthusiasts to listen to the customers. It is unwise to shun them out. You must
become a good listener. When the client rests his/her case, you can explain
your side. Civilised verbal communication can resolve complex problems.
Understand the Client’s Grievance
Numerous new ventures enter the trade sector. Many organisations perish,
while others flourish. My experience says that consultation with experts can
provide tips
on how to overcome marketing challenges. Proper promotion paves the
path for sale and revenue generation. The owner of the organisation requires
special techniques to appease an angry and dissatisfied client.
The disgruntle customer desires answers and proper solutions. A
business owner must converse with the client. He/she must encourage the
customer to state the issues. It helps the entrepreneur to understand the
problem. Once you realise the issue, you can try and figure out a perfect
solution.
Sympathise With Customers
Many young business enthusiasts ask me how to handle difficult customer. I have a different notion that says that no customer is difficult. The patrons cannot create any issues as long as you offer quality services. The clients do not hesitate to pay the fee you charge for the services. If you fail to deliver quality goods/services on time, it is a breach in contract.
It is a justified reason for the clients to develop negative
emotions. I suggest you sympathise with the customer and understand his/her
problems. Your submissive nature can reduce the anger lever. You need these
clients to attain business success. Lack of understanding can send the client
to your business rivals.
Apologies for the Mistakes
I stress the importance
of business mentorship. I received the opportunity to learn the tricks
of the trade from the best in the business. My mentors highlighted that
business owners must prioritise their clients. I follow their guidelines to
date. No rule book says that companies cannot make mistakes. These organisations
serve numerous clients, and a mix-up may happen.
If the customer points out the mistake, the owner of the company
must accept the error. It is fruitless to fight a battle that you cannot win.
If you fail to keep your commitments, then you must apologise and right the
wrong at once.
Offer Befitting Solutions
A heated argument can anger both parties. Rage mars your potential
to come up with sound solutions. I advise entrepreneurs to provide a remedy
that makes the client happy. The customer may face financial losses if Apologies
for the Mistakes
he business owner fails to offer quality goods/services. The client
cannot use substandard items.
If the business owner makes a mistake, he/she must accept it. The
entrepreneur must use sound client
handling techniques. You can offer compensation to appease angry
clients. It can lessen the financial loss of the customer. Such solutions can
create a favourable image for your organisation.
Alter Business Policies
Sometimes, the business owners lock horns with the clients. I feel
you must avoid such situations. Business analysis can assess the different
aspects of the case. The evaluation report may suggest that the client was
right. It highlights that the business owner needs to review his/her policies.
If you desire sustainable
business growth, then detect the loopholes.
I feel that novice entrepreneurs may fail to pinpoint the issues.
So, they must contact the business analysts. These professionals can evaluate
various components. They can also help with the development of a sound venture
operation policy. If you implement it, you need not worry about unpleasant
situations.
Do you want to keep unpleasant exchanges with the clients at bay?
You need a robust business plan for that. Apart from this, adequate mentoring
can prepare you for any situation. Are you looking for such business mentors?
If yes, then connect with the experts of Evolvers. We offer practical business solutions
for entrepreneurs.
Coronavirus outbreak has majorly affected the businesses globally.
Approximately. 71% of businesses, particularly startups and small businesses
are witnessing a slow demand for their products and services due to the
coronavirus pandemic.
When any crisis hits the market, the foremost and significant thing to do is to plan a crisis management checklist for your business. It’s crucial for you and your team members to analyze the situation and then, plan a potential strategy to cope with the crisis. From communication to important messages, your business strategies should be planned and clear in advance.
So, here are a few tips that will help you to reframe the marketing
strategies for your business during the coronavirus outbreak.
1 – Make it a Marketing Opportunity
As the outbreak of coronavirus has led to the downfall of businesses significantly, thus it becomes more important to focus on creating marketing opportunities in a better way. Try to shift the mindset of the people from the coronavirus crisis! Further, add creativity, productivity, and innovation to your marketing that hopefully makes profits.
2 – Keep your Customers Updated
As the coronavirus outbreak is a major crisis globally, thus it is crucial to inform and update your customers on how you will run your business. Whether it’s a voicemail or email, your marketing strategies must include messages that inform and update your customers. Moreover, just make sure that whatever trick or tip you choose should be good enough. You can also add an FAQ section in the middle of your email so that all the queries are majorly resolved.
3 – Lucrative yet Worthy Offer
It’s always a great offer that makes up a customer’s mind to ‘go for it’. In the time of crisis, you can show your customers how much you care about them, by simply offering them great deals and offers. Putting up the right offer in front of your customers is absolutely important and that’s all they actually care about. Therefore, serve your customers with the best of deals and discounts, which make them ponder, how to avail it, when it’s available and how can I get it, etc.
4 – Engage with your Employees
Another essential step to be taken for marketing strategy during coronavirus outbreak is to connect with your employees. You can get your employees either on conference calls or video calls to plan out for further. From brainstorming to think uniquely creative ideas, you can take advantage of the lockdown period due to the spread of coronavirus to engage them into something meaningful.
CONCLUSION
To sum it all up, your marketing strategy for the crisis must include
all the above-mentioned tips and tricks to make it a significant opportunity
for your business during coronavirus pandemic
outbreak!
Not to mention it, your marketing approach is only beneficial when your
business has an emergency cash flow that actually makes the process quite
smooth, easy and quick.
From embracing new sales channels to preparing yourself for the pent-up demand, the marketing approach must be comprehensive and worthwhile. Even if your business gets affected by the outbreaks and crisis, accept them and embrace the opportunities to spring back firmly!
What is the first thing that you prioritize as a business owner? Some stress on the quality of goods/services. Others opine that client retention is most important. My experience says that many venture owners are unaware of business growth maintenance. At Evolvers, we help young entrepreneurs to attain this goal.
I communicate with business enthusiasts and startup owners on a
regular basis. They ask me how they can establish a venture. Apart from this,
they also want to gather information about operational policies. I advise them
to develop a sound business plan. My company can assist with the creation and
implementation of business policies.
A bankable idea and adequate capital can pave the path for the
establishment of the venture. Proper marketing campaigns can attract the
attention of target clients. I suggest you pay attention to lead generation.
When you have substantial client leads, you can convert these with ease.
These steps play a vital role in the business operation. You require separate policies to sustain the business. Every business owner wants to rule the market. He/she must possess long term plans to accomplish this task. Lack of sustainable venture policies can cause financial losses. I suggest one must consult with the experts and develop sustainable business growth strategies.
What is Sustainable Business Growth?
Young entrepreneurs stress on the current business status. It is
necessary to maintain quality and attain more clients. I meet many business
enthusiasts who assume that fast business development is a positive sign. The
truth is far from this. I suggest you maintain a stable growth rate.
If you expand the venture fast, it can pave the path for financial issues. It also mars the goods/service quality. Operational hurdles may crop up, as well. These problems can reduce the potential of the organization. Novice entrepreneurs may find it challenging to tackle numerous aspects with competence.
My experience highlights that one needs to follow the vital tips for a successful business. The trade and commerce sectors are somewhat competitive. You must take the necessary measures to stay ahead of the competitors. Entrepreneurs need time to implement these strategies. You must equip the organization to stand the test of time. Here, sustainable venture strategies come to your rescue.
I advise young business owners to consult with policy developers and
analysts. They highlight that business owners must take one step at a time. It
offers better control over the particular aspect.
The business analysts suggest that you must calculate the growth
rate. If you maintain a stable growth rate, you can obtain better financial
leverage. Apart from this, you can prevent operational obstacles. Sound
techniques can sustain business growth and ensure overall success.
Fundamentals of Sustainable Business Growth
Not all corporate enthusiasts get the opportunity to acquire business management degrees. They can gather the relevant details from the internet. I often communicate with the owners of the top 10 startups in India. They suggest that business sustenance skills are essential for sale and profit generation. Before I offer information on this, you must understand the basic concept.
Authentic Purpose
Every organization needs a sound purpose. It propels the business in the right direction. It impacts every aspect of the company. A proper business purpose boosts profit generation. If you desire sustainable success, then you require a productive goal. It also improves your focus on organizational operations.
Brand Power
I believe that the business owner must try to establish an emotional
connection with the customers. He/she need to pay attention to brand equity, as
well. These are two essential basics
of sustainable business progress. These components attach the target
clients to your goods/services. If the link is secure, you need not worry about
client retention. It, in turn, paves the path for the sustainable success of
the venture.
Sale Repetition
You can attract the attention of clients with innovative products.
Your brand image plays an integral part in its promotion. However, it cannot
offer measurable results. If you want business sustenance, you must make repeat
sales. I feel you can achieve this aim if you add new customers to the client
base.
Community Building
Another fundamental aspect of sustainable business growth is to build a community. A commercial ecosystem encourages business owners to take calculated risks. It boosts the capabilities of the organization. Lack of a favorable business ecosystem can hinder the venture maintenance process. As more people join the brand community, the ecosystem becomes reliable and competent.
Flexible Policy Framework
Business analysts highlight that market conditions change often. A rigid strategy can hinder your business expansion. The top 10 startups in India develop a policy structure that is flexible. It helps the business owners to alter and develop the strategies with time. A flexible business policy structure can sustain the organization. Thus, it ensures the overall success of the venture.
Established corporate organizations have workforce and financial resources. They can hire experienced professionals to ensure the adequate development of the nitty-gritty. Small startup owners cannot afford it. My company can help such companies with sound guidance.
You can converse with business experts. They can evaluate the current standing of your company. Investment and sale records can predict future potentials. I believe that you need proficient mentors to attain business success. Our experts can highlight the benefits of business mentors. The counselors can make the necessary arrangements to fund your venture.
Essential Guidelines for Sustainable Business Progression
If you desire commercial success, you need sustainable business strategies. These plans can increase client base, sales, and revenue. Reports suggest that customers wish to associate with stable organizations. Here are some points which can assist with supportable business expansion
Balance New and Existing Ventures
I often get questions like what makes a business
sustainable and profitable. It is rather challenging for any business
expert to provide a simple answer. Many factors work in unison to maintain the
stable growth of a company. It ensures a satisfactory revenue generation. I
advise young business enthusiasts to invest in new ventures.
You can set up a new organization or invest the money as a partner in another company. It increases the chances of profit maximization. It can increase your workload and responsibilities. However, it acts as a contingency plan. It is imperative that you pay attention to the operations of both ventures.
Develop Solid Foundation
Sometimes business enthusiasts have impractical ambitions. It can
obstruct sustainable business development strategies. I, along with commercial
evaluators, feel that you must opt for achievable business goals.
what makes a business sustainable and profitable
However, you require a sound foundation to ensure target attainment.
I believe no company can survive for long if it lacks a foundation. I suggest
you gather relevant information about the benefits
of business networking. It plays a comprehensive role to maintain
venture relevance.
A business owner must set realistic and small targets. When he/she
acquires one, he/she can move on to the next goal. One must strike a balance
between future ambitions and regular business operations. If you ignore the
present venture-related activities, you can lose the client base. It shakes the
core foundation of the venture, and you cannot plan a sustainable
expansion.
Constructive Partnership
It is impossible for an individual to manage multiple ventures. Every organization requires adequate attention. Failure to do this can mar the reputation and brand image. Apart from this, it threatens your sustainable venture development plans. I feel that a helping hand can come to your rescue. You need a proficient partner who can divide the workload.
Tips for Sustainable Business Growth
A business associate can also reduce financial burdens. He/she can
invest funds in the venture. It boosts sustainable business development
strategies. However, the partner selection process is rather challenging. If
the person has similar goals and has the desire to work hard, then he/she can
become an asset for your company.
I meet many startup owners who are looking for suitable partners.
Some want to form partnerships for financial reasons. Whether you require
business associates or funding, the Business Networking Platform can
meet your requirements.
Keep Clients and Employees Happy
You generate revenue when target clients purchase your
goods/services. Customers are primary income sources. However, you require
skilled and experienced employees to run the show. The success and profit
generation depends on these significant components. You need to keep both
parties happy to maintain the health and expansion of your venture.
Acquire Skilled Individuals
Skilled people are the lifeblood of any organization. The owner cannot attain business goals alone. He/she must hire experienced people who can support him/her. Experts highlight that a business owner must appoint the services of candidates who possess the hunger to flourish. The employees can work towards the betterment of the company.
However, the company owner must take the necessary steps to retain
efficient employees. It is rather difficult to replace a good worker. The next
candidate may lack the skills or determination. Lack of employee retention can
weaken your sustainable business expansion vision.
Prepare for Trouble
It is necessary to prepare for any unpleasant situation. My experience says that business owners must develop contingency plans. You need to test the effectiveness of these strategies. One realizes the importance of networking for business growth during the hour of need. I advise young business owners to hone their trade networking skills.
Embrace Changes
Evolvers
If you fear change, you cannot survive in the trade sector. Flexible venture policies can pave the path for success and sustain it, as well. I suggest you make relevant changes in the goods/services, client retention techniques, operations, and marketing strategies. In case you have doubts, you must talk to the business analysts. They can shed light on the positive potential of the revised policies.
Do you desire to maintain the success of your venture? Do you lack
proper vision and strategies to sustain your company? If so, then you must
consult with the experts, associated with Evolvers. We offer the
necessary assistance for business development.
Apart from guidance, we can polish your networking and partnership
skills.
Do you worry about the growth of your venture? I realize it is a lame question. Every entrepreneur is anxious about the success of his/her business. My profession offers me the opportunity to converse with the owners of the best startups in India. These business houses develop sound policies and implementation techniques. But that is not all!
My experience says that one must pay attention to the operational aspects. India provides a favorable atmosphere for venture development. A bankable idea is not enough to ensure success. You require meticulous plans and strategies to capture the market. Lack of a significant client base can pave the path for business failure.
I encourage
young entrepreneurs to go ahead with their plans. My associates provide
necessary guidance to these individuals. I stress on regular assessment of the
business metrics. Venture success depends on various elements. You can regulate
some, while others are beyond your control.
Importance of
Business Assessment
Budding venture owners worry about how to make a strong business plan. I advise them to measure the controllable business components. The assessment reports shedding light on the growth and future of your venture.
Business experts
opine that you need to develop the policies and implementation techniques with
time. It paves the path for business improvement. My experience says that it
becomes an impossible task if you do not evaluate the various business aspects.
You cannot assess the health of your business without pertinent data.
There is a high demand for business data analysts in the market. These experts can gather and assess the data. The evaluation helps them to prepare a comprehensive report. You can improve your service, marketing, and operation policies as per the report.
Without proper
business metrics measurement, you cannot progress in this sector. The reports
also come in handy to prepare a better business
plan. It is unwise to take chances when the success of your venture
in on the line.
I suggest you
consult with experienced business experts at once. They can provide sound
guidance. If you follow these, then you will taste success.
Measurable
Business Components
Young venture
owners may lack information about the measurable business elements. You can
search for relevant information on the virtual portal. I must highlight that
you need the expertise to measure these components. Here are some measurable
metrics which you must know.
Feasible
Investment
If you desire to
establish your business, you need capital. You must invest money in the beginning.
How much money is enough to start the venture? I cannot specify a sum to answer
this question.
No two business
owners have the same requirements. The cash
budget estimation depends on the market and target
customers. A proper market survey can help with financial planning. You can
consult with venture development experts to assist with this task.
Marketing
Cost and Returns
Promotion is
necessary for any business. I believe that sound and smart marketing techniques
can provide satisfactory results. Young business enthusiasts concentrate on
virtual advertising. I think it limits their reach. You must set aside a
certain sum for traditional marketing as well. It allows business owners to
connect with the target customers.
You can keep
track of online and offline promotion budget. However, one can measure the
digital marketing outcome with ease. The assessment of the reach and lead
generation is an essential factor.
Sale Revenue
Right
advertisement strategies can rope in customers. You can charge a certain amount
for the goods/service you offer. The sale generates revenue. I suggest that you
keep a tab on every sale you make. You can measure the sales
budget after regular intervals. An increase in income is a positive
sign. If the sales figures dwindle, you must review the business
policies.
Profit and
Loss Assessments
Every business
owner wants to make financial profits. It is necessary for market success. I
believe profit and loss calculations are rather simple. A small venture owner
can accomplish the task if he/she keeps meticulous records.
If you find it
difficult, hire an accountant. The accounting expert can tally the cash inflow
and outflow. They use modern software to calculate profit and loss. Experts helping the latest startups in India can
predict the health of the business from these figures.
Customer
Acquisition Cost
I advise budding venture owners to evaluate the customer acquisition cost. You spend a certain amount on promotion for a specific span. It can rope in clients during the timeframe. The money that you invest to get these patrons is your customer acquisition cost. If you get more clients by spending less, then you are on the correct path. If you detect an opposite pattern, then you need a better strategy of a business plan.
Customer
Retention Percentage
Young business enthusiasts ask me how they can retain their customers. I feel quality service at reasonable rates can keep your clients. You can prepare a database of all customers over a specific time. You must keep track of new clients who purchase your services at the same time.
The best
startups in India hire experts to develop their customer retention
strategies. Regular assessment of the data can shed light on your client
retention rate. If the figure dips, you can make the necessary changes in the
services department. Re-evaluate the product pricing and marketing strategies.
These steps can boost overall client retention.
Qualified
Leads
A venture cannot
survive in a competitive market without support from loyal customers. Experts
suggest that business owners must take the necessary steps to increase the
client base. I feel that lead generation strategies can come to your rescue.
The marketing department offers market qualified leads. These leads match your
target client base.
The sales team gets these leads and screens them. It helps them to determine potential clients. The sales executives work on these leads to convert them into clients. You can measure the number of sales-qualified leads without much hassle. Proper lead conversion is imperative for the growth of the business.
Do your current
business operational techniques fail to rope in customers? Do you require the
assistance of an expert business analyst? If yes, get in touch with experienced
mentors and business developers at Evolvers. The specialists can explain how
you can monitor the measurable business components. They can also assist with
new business policy development and implementation.
