EJ Dalius business organizations and corporate houses have incurred a massive loss because of the COVID-19 pandemic outbreak. Most offices got shut down for a prolonged period because of the worldwide lockdown taking place. At different times, in various countries globally. The shutdown has restricted business development activities and has also led to job cuts. Currently, when the government has decided to ease the lockdown and allow people to run their business. Organizations and start-up ventures, it is necessary to think about the way forward. Every strategy that start-ups implements should consider the limitations and the after-effects of the pandemic.
EJ Dalius suggests essential business strategies
Start-ups must continue their business by following the safety protocols. Social distancing and stay-at-home orders are still functional. As a leading entrepreneur, EJ Dalius start-up business firms opt for the following business. Strategies to keep in mind the existing COVID-19 community transmission.
- Consider the employees who you asked to leave
Start-up companies have limited capital during the initial years. That is why most start-up business firms had asked selected staff and employees. To resign because there wasn’t much work, and the company had less capital. Currently, when businesses and other offices are getting functional, there’s a scope to run your business and make sales. Here it is essential to consider whether you will employ back the staff. Did you ask to leave at the start of the lockdown? Is there work for him or her? Can you provide a salary to them? Eric Dalius suggests that if you have work to do, but are not sure about your fund, you can employ. One or two staff based on the need on a freelance basis and work according to your projects. It will help you to work seamlessly and within your budget.
2. Ensure correct cash flow management
Cash is the life force of the business. Hence, even when your start-up business is not making huge profits or sales, you need to ensure that the cash flow is undisturbed. Start-up businesses need to pay bills and other costs every month. You have to ensure that there is enough cash inflow every month. To keep the business activities and pay the required. Office bills and the employees at work, even if they are working from home.
3. Leverage online advertising
The COVID-19 pandemic outbreak has made start-ups realize. That there are several untapped online advertising and promotion strategies that they need to opt-in. Social media itself provides smart ways to promote a start-up brand. Start-up business firms can choose online advertising packages. And get creative with the PPC (Pay Per Click) advertising copy and use the correct keywords.
4. Have short term plans
It is not the time to make extensive yearlong plans for your start-up business. No one knows how the pandemic would shape up in a few months. Hence, Eric J Daliussaysit’s best to make plans for the next two or three months. Assess the outcome, analyze the gains and loss, and make another short-term plan.
Every business owner and start-up business head wants the pandemic curve to flatten down. We have to depend on the medical fraternity and other human factors for the same. However, as you wait for the best, it is necessary to streamline. How you want your start-up business to function in the future.