Before reading this first go back to our blog and read PART 1. Now let’s look at how to grow your business during this crisis. First thing is to digitize systemize and virtualize your products and services. So, let’s first look at the thing you could you digitize in your business is it your delivery, your products and services?
So, let’s say right now you’re selling something that is a physical product that’s fine but is there a possibility you could digitize this and actually deliver the same kind of products or similar through technology through the internet.
Something that people could download versus shipping something physical to them. It makes a huge difference. Not only it reduces your delivery cost but now possibly you can expand your market base. You can reach a more global market.
Systemize, can you systemize your processes and procedures so that it isn’t people dependent but more technology dependent. if you want to increase your efficiency, what are some of the things that you could put systems in place, maybe perhaps you want to hire a remote team to execute? Once you have a system in place it’s easier for your business to be more efficient.
In a crisis, you don’t want your business to be so people heavy. Ideally, you want to reduce the human element because if you could use the technology you can automate some of these things. Maybe not the whole thing but ask yourself the question are there aspects of my business that I can systemize and automate that would make a huge difference to increases my chances of survival?
Virtualize, Before the crisis, a big part of the training industry business revenue was coming from doing live events. But now they have taken the same experience and they have virtualized it. Now, they’re conducting virtual events and seminars.
So, ask yourself, can you virtualize your event or your experience and actually create something even better.