Adjustments in your Business

[raaman]

Many entrepreneurs are simply waiting for things to normalize little by little, without worrying about making major adjustments to their business model, which is risky. As Darwin made clear, mutations are required to advance and not go extinct.

Now, it is a pandemic that shuts down the economy. A quarantine that slows down trade and changes business models. Tomorrow will be something else. So if the normal conditions of your business were upset (for whatever reason) what would you do?

What is your plan B? The gradual reactivation of the economies gives us a certain sense of relief, but the reflection must be deeper.

 

[Josemendez]

The fact is that the covid-19pandemic has done much harm to the world , and the effect won't go out easily . This is why the news for the second wave of the pandemic won't be a pleasant one ,as things will get worse if there exist a second wave of the covid-19 pandemic,and a follow up lockdown .

Presently , I have started saving up some money ,in preparation for a possible lockdown ,and I have also worked towards having an online source of income that will sustain me in case it happens.
I pray that an active vaccine should be made soon .

 

[Alexandoy]

You are right, plan B is important to have when you are an entrepreneur. Admittedly many businesses went down when the virus came to fore because no one had predicted that to happen. That was the time that the word lockdown was coined and the pandemic era had started as if to pull down the economy. If you have a plan B then it would be easy for you. Some businesses decided to close shop for the meantime. I know of 2 companies that work for video coverage projects. It is zero business so they have to close shop and retrench their workers. No plan B, no money.