Winning is the spirit of a successful business person. It doesn’t mean you don’t fail, but you stand up every time you fall. This is the boldness that we should embody as we adapt to the new normal caused by worldwide lockdown due to the COVID-19 virus. In this article, I will share with you some perspective on how to win your business during or post COVID19.
Historically, this crisis has happened already in the economy so many times. Today, it’s just a different type of crisis. During the 2008-2009 financial crisis in which the bank has been tremendously affected, we have not felt much of its impact because the banking was affected. While this crisis is not new to us. This crisis was caused by the interruption of human consumption. Where every business worldwide had been greatly affected. Consumers are stocked at home and they are not allowed to go out to mitigate the spread of the virus. The process of human spending has been halted drastically. We call a “spending crisis”. For this reason, the government is doing its best to desperately extend every help to sustain the consumer’s transactions. This is one winning strategy of the government.
Today, we are going to do a mind-shift. We are going to take a look at the brighter future of the economy and of our business to win your business.
This is not the end, but a journey
As a business owner, we have to act with faith that this situation will come to pass. Many big businesses are remodeling their business strategies and doing a change in marketing strategies. For example, our very own Jollibee Food Corporation has changed its selling strategy by doing online delivery of Frozen chicken joy, the same with their other brand Mang Inasal. A lot of other same industry like KFC, Shakeys have followed as well. So like them, everyone in the business has changed their marketing mindset and embraced the change with faith that this situation will eventually be the new normal in the industry. Everybody is going online, this might not be good but we have to adapt to this business model.
Although a lot of big companies have radically closed business. Many have applied for business suspension. Some have undeniably opted to crawl down the market.
Ask the right questions
We have to ask the question, how can I thrive in this new normal? How can I adapt to this situation? What can I do to be able to create a different strategy to sustain my business moving forward? We ask this business assessment because we do not know when this situation will end. You know a lot of motivational speakers also changed their strategies by going online and selling themselves through zoom. They have also adapted into this reality that their business will not materialize maybe after 1 year or two. You too can ask the same questions.
Is this a pain or opportunity
I think this will go by both, this is painful to the business but this we have a great opportunity to change. Change for the better. We have to be like chameleons. Which would easily adapt to the environment.
Success in business is adapting to the changing condition through times because business constantly change every time. Adapting to this new normal is painful and like you, this has been felt by so many people in the whole world.
Shirley Tan of Business.com says, “Adaptability is the personality trait that helps determine how you respond to change” . When you adapt to change this will one of the winning factor how you grow your business as a whole.
Today, you are going to make a big decision in your entire business. Some leading market industries have closed down including the 5 dealers outlets own by Yuchengco-led House of Investments. The hotels have drastically shut down their business for example Victoria court motels.
I know that it is so difficult to manage this decision making. But one thing is for sure, how we do business from now will never be the same. I do not know what will happen to the market. No one can answer when the market will go back. I am also uncertain to when can we bounce back. But, I would like to leave you a quotation from Proverbs that will truly magnify our true faith in business.
Commit to the LORD whatever you do, and he will establish your plans.New International Version
I know God does not leave us unchanged. The change that we might be doing will not be for the business but for our personal growth how we value things out of our own capacity to manage. If we do not know how to use the device we bought, won’t we read the manual. If we do not know how the device has been created, won’t we consult the maker. Right now, maybe the maker is asking you to go back to Him and consult regarding your business. However it is, you and your maker shall know what to do. Even if how difficult it is to know the truth, it will set you free. However deep the hurt it will get, God will see you through. Consult Him.
Hi, my name is Jack Marbida, I am a financial advisor from Sun Life Financial for over 4 years now. My goal is to help thousands of Filipino people understand and embrace the spirit of financial preparation through our program, “Financial Freedom”. I know you need help but you just don’t know where to start. Allow me to help you establish a brighter future. Click here for more information. Check what I have been doing here.
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