How to bring your business back to success after a crisis
How to bring your
business back to
success after a crisis
By JBM
The Pandemic & After
● A staggering number of businesses are expected
to close their doors because of the coronavirus
pandemic.
● To help mitigate this, the Dubai government has
promised an economic stimulus package.
● Whilst this may provide some relief, the question
of what you can do to beat the odds remains.
● Here are Tips from
business mentoring consultants at Jupiter
Business Mentors
Short term Survival is Important
● Lowering expenses, cutting down on costs, going
lean, extending payment terms, and focus on
debt collections
● Managers need to take on more responsibility and
inspire others.
● “Focus on what has worked previously, look at
strength areas and redeploy to adapt.
● During a crisis, needs become far more important
than wants, facilitate solutions, support &
collaborate.
Short term Survival is Important
● Look beyond a traditional one-size-fits-all-
approach
● Create product value whilst keeping pricing right
● Develop digitally - be more accessible through
online programs and e-commerce.
● Increase your presence online by creating useful
and valuable digital marketing content.
● Be self-aware, Reassess, redefine and change
direction.
● Foster partnerships based on strengths and
complimenting skill sets.
What to avoid during a pandemic
crisis
Don’t blindly cut down manpower
People are a bridge between where your business is
today and where you want it to be tomorrow.
Paying attention to the emotional needs of
employees.
As an alternative, both men suggest cutting costs,
not overspending and staying clear of undue risks.
Investing in the growth and development of
businesses.
What to avoid during a pandemic
crisis
Best time to revamp your systems, operations, and
processes.
Rethink strategies, reviewing targets and budgets
Don’t take undue risks or take on too many things
together.
Many businesses are industry specific and whilst
there might not be much movement in the market, it
doesn’t mean you stop.
Consider Mentoring and if you can, hire a consultant.
A financial advisor as a mentor will be a definite plus.
Jupiterbusinessmentors.com
Mentoring for success.
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