Growth Driven

The 5 Key Survival Factors for Small Business and Life

April 06, 2021 Edwin
Growth Driven
The 5 Key Survival Factors for Small Business and Life
Chapters
Growth Driven
The 5 Key Survival Factors for Small Business and Life
Apr 06, 2021
Edwin

https://virtualcmo.expert/
The 5 Key Survival Factors for Small Business and Life

Survival Factors:

1. The kit you carry
2. The skill you have
3. Your physical abilities
4. Luck
5. Your will to live

The time is now to seize opportunities
As a result of the pandemic, e-commerce has seen a massive increase, with online spending in April and May of last year reaching $153 billion, according to Adobe’s Digital Economy Index, a dollar amount that was $52 billion more than what retailers usually see during April and May. “Whether B2B or B2C, cultures around the world are embracing anything online,” says Passalacqua. “Technology has made it possible for people to buy abroad and sell abroad easier than ever before.” 

Prior to the pandemic, many businesses were embracing customer-centric strategies to build trust and loyalty. Since Covid-19, putting the customer at the center of everything you do can be the difference between thriving and failing during these uncertain times. Providing personalized online service is difficult in the best of circumstances, but the complications are compounded when selling in a foreign market. 

Don’t let an economic downturn upend your business
“The business community doesn’t like uncertainty—it wants certainty and concrete plans,” says the ITCC’s Buschmann. Whether you’re dealing with Covid-19 or any other economic downturn, this isn’t the time to rest on your laurels. To keep your company running at maximum efficiency and profitability, there are a few things you should do during any economic downturn.

“First you should review every source of revenue and look for problems and solutions within your control,” says Passalacqua. “Second, be sure to host team meetings to get an internal view of what’s going on, get creative with new initiatives, and find people to help start them.”

Although the effects Covid-19 has had on businesses will continue to challenge us for some time, it has also allowed those who are willing to make bold moves to seize new opportunities. It has shown us how easily the internet allows geographical boundaries to disappear, opening the door to business opportunities across the globe.

Show Notes

https://virtualcmo.expert/
The 5 Key Survival Factors for Small Business and Life

Survival Factors:

1. The kit you carry
2. The skill you have
3. Your physical abilities
4. Luck
5. Your will to live

The time is now to seize opportunities
As a result of the pandemic, e-commerce has seen a massive increase, with online spending in April and May of last year reaching $153 billion, according to Adobe’s Digital Economy Index, a dollar amount that was $52 billion more than what retailers usually see during April and May. “Whether B2B or B2C, cultures around the world are embracing anything online,” says Passalacqua. “Technology has made it possible for people to buy abroad and sell abroad easier than ever before.” 

Prior to the pandemic, many businesses were embracing customer-centric strategies to build trust and loyalty. Since Covid-19, putting the customer at the center of everything you do can be the difference between thriving and failing during these uncertain times. Providing personalized online service is difficult in the best of circumstances, but the complications are compounded when selling in a foreign market. 

Don’t let an economic downturn upend your business
“The business community doesn’t like uncertainty—it wants certainty and concrete plans,” says the ITCC’s Buschmann. Whether you’re dealing with Covid-19 or any other economic downturn, this isn’t the time to rest on your laurels. To keep your company running at maximum efficiency and profitability, there are a few things you should do during any economic downturn.

“First you should review every source of revenue and look for problems and solutions within your control,” says Passalacqua. “Second, be sure to host team meetings to get an internal view of what’s going on, get creative with new initiatives, and find people to help start them.”

Although the effects Covid-19 has had on businesses will continue to challenge us for some time, it has also allowed those who are willing to make bold moves to seize new opportunities. It has shown us how easily the internet allows geographical boundaries to disappear, opening the door to business opportunities across the globe.