4 Strategies to Help Your Business Recover From Coronavirus

The coronavirus pandemic is wreaking havoc on the global economy. Air travel is being hit hard, sports leagues and big events are being canceled, countries are putting up travel restrictions to try to keep the virus outside their borders, and public health officials and hospitals are bracing for the worst. In times of crisis, it can be hard to stay calm and be optimistic. Fortunately, for entrepreneurs and business leaders, staying calm under pressure is part of the job description.

By taking proactive steps now, you can put your business in a more secure position to stay strong and recover faster once the crisis subsides. In fact, China, the country where the virus first emerged, is already showing signs of economic recovery. Here are a few key strategies and insights to help your business recover from coronavirus.

Think about how coronavirus affects customers

• Worried about supply-chain disruptions?

• Worried about how to manage employees in an environment where everyone might need to work from home?

• Worried about travel restrictions?

• Struggling with general market uncertainty and slowdown in demand?

• Wondering how to manage their cash flow?

• Facing a shortage of key inventory or supplies driven by consumers panic-buying and stocking up?

Depending on what industry you’re in, your customers might be having some specific new pain points related to coronavirus. Think strategically about how the pandemic is affecting your customers, what is keeping them up at night and how you can help. Then you can adjust your sales pitch and design your marketing around how to address these specific challenges and worries. For example, are your customers….

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What strategies are you putting to work in your business? 

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