The virus will not last forever, once the quarantine over you will have to quickly regain your market share and make profits to hire back your employees. You have to be well-prepared, and you have to start now. Here are some ideas to prepare you for how to prepare your business after the coronavirus.
1. Don’t change your good habits
The virus can change your good habits, stay at home to take care of your family, not be at work every day and even hear bad news on TV can change your behavior and your efficiency. However, keep in mind that once the good habits are gone it is more difficult to find them. You must, therefore, act every day as if you were going to work physically (waking up at a fixed time, not staying in your pajamas, having regular meal times, etc.).
2. Have sufficient reserves of your products
Once the end of the quarantine is announced, people will resume their habits very quickly, we can see it in places that have announced a reopening of public places. It is therefore essential to prepare for the return of customers and increasing demand because people will have made a list of things to buy when things return to normal. Just as there was a very high demand for certain sectors before the quarantine, then a decrease during the quarantine, we must expect a very high demand when the quarantine is finished.
3. Stay in touch with your customers
Your customers are the source of your profits, you give them what they need and they can become repeat customers. Changes in your customers’ daily lives can also affect their needs. Some people have lost their jobs, others are paid less, but this is only temporary and in the coming months, everything will return to normal. Staying in touch with customers lets you know what their current needs are, but also how it can evolve, so you’ll be better prepared for the recovery.
4. Know if your suppliers will be able to supply you 100% once the virus is finished
Selling is one thing, having regular supplies is another. If you don’t have a supplier, everything is fine, but if you have one you need to make sure that they will be able to keep up with growing demand because when customers come back, your suppliers may have requests, from all of their customers and you will be able to cope with fairly long lead times, or sharply rising prices, so it is worth looking now for different suppliers for your business.
5. Adapt your products and the way you deliver them
Your products may need to evolve to adapt to the current context. But changing your product line can be complicated. In the meantime, you have to adapt the way you deliver your products, make them more accessible, but also communicate on them. People have more time and get mass information on social networks, use social networks and more important than ever.
6. Diversify your customers
As demand will not return to 100% even after the end of the quarantine because many will have to find a job before, it is necessary to diversify your customers and reach a different population. By adapting your products and especially the way you communicate on them on social networks, you will be better able to cope with the drop in your profits during the pandemic.
7. Be mentally prepared not to regain your profits 100% right after the virus
The next few months can be difficult. The cause of lost profits and because of the virus, once the quarantine is over, it is essential to keep a positive state of mind even if you do not earn as much because this situation will only be temporary. So do not be defeatist and keep in mind that customers will come back little by little.
To prepare for after coronavirus is a mixture of physical preparation (with your products) and mental. Keep in mind that you are not the only one in this situation and that other people also want to see the economy start again so that you can make purchases and sales.