Business in a pandemic – does the strongest survive?

It is certainly one of the most turbulent periods that society has known. We are not wrong at all if we say that we are living in unprecedented times, at least for our generation. The pandemic has marked every aspect of human existence, perhaps irreversibly and irremediably: it has changed priorities, dismantled the daily routine and forced us to change the way we conduct our business. 

And yet, the virus will continue to be a part of our lives for an indefinite period. 

But if we know one thing for sure, it's that, over time, we have survived thanks to our ability to ADAPT. It's not guaranteed that the strongest individual or the biggest business will survive these uncertain times, but those who ADAPT certainly win. 

Below we have gathered some ideas for your business to thrive during the pandemic:

• Mentality: without denying the magnitude of the current context, it is extremely important to keep a mindset optimistic. Now, more than ever, determination and courage are needed, especially from those in leadership positions on whom the attitude of employees depends. (Eric W. Liguori, 2020)
• It's the right time to review "What makes"The reason that led you to start the business you run. It will help you have clear motivation in times of uncertainty.
• The speed with which you make decisions, perhaps even radical ones, can significantly change the evolution of your business. (Kevin Sneader, 2020)

Take care of your customers! 

• Maybe the most important thing that you can and should do is find out how your customers' needs and desires have changed, and then, to adapt the product/service according to the information you receive. (Eric W. Liguori, 2020)
• Show that you care about them – and do it sincerely. Whenever you can, assist them with their personal needs, not just their business ones. It’s a surefire way to create a genuine and lasting connection. (Eric W. Liguori, 2020)
• Think of ways to resell to existing customers – whether it's by introducing new products or services.

Take care of your employees! 

• If their physical presence is necessary, make sure it is respected safety regulations such as distancing, wearing masks and gloves where appropriate, surfaces are constantly disinfected, etc.
• Make sure you have one effective and open communication with your employees. The success of your business depends at least partially on their performance, and if they are in a state of constant restlessness, their activity will be affected sooner or later – and it will cost you indirectly.

You as an entrepreneur may be used to hardship and doubt, but your employees are not. (Eric W. Liguori, 2020)

• For each position, make sure you have at least two employees who can take each other's place in case of absence. Don't let the success of your business be influenced by the presence or absence of a single person! 

This is an opportune moment to guide your team toward a mindset focused on problem solving (Nohria, 2020). Finding someone to blame is a solution only if it eliminates the chance of the mistake being repeated. Otherwise, it is merely a waste of time. The pandemic has not come to an end. Every day brings a different reality, and we will still find ourselves unintentionally facing new situations that call for an original approach. Encourage creativity and good initiatives, and give your employees trust and autonomy.

Make sure you have a Plan B! 

If 90% of your business depends on a single supplier/manufacturer, what will you do if they suspend their activity? Try to find replacement options, at least temporarily, in case of emergency. (Nohria, 2020)

Be careful about the accuracy of the information! 

If at least some of your employees work from home, it means they will use ways to connect remotely, share documents or other information.

• Any suspicious activity, report it to the IT department!
• Use trusted apps from verified sources.
• If you are notified that bank accounts where you need to make payments have changed, ask for supporting documents, signed and stamped. Make sure the email address is EXACTLY the same one you have been communicating with so far (it may just be a different letter).

Confirm the announced changes by phone, at the company's official numbers. 

Don't give up on marketing! 

On the contrary, the marketing budget will have to remain at least the same, according to Daniel Rusen, Microsoft's Marketing Director. Communicating with your customers, maintaining a good image in the online environment and more are an absolute necessity. (Abaluta, 2020)

Use the power of the internet!

You may need to use other platforms to sell, maybe you need to open an online store, or find other non-conformist ways (Facebook buying/selling groups, Marketplace, etc.) to tell the world about your business. Experiment. Difficult times call for different actions. 

Don't forget, we have all been and are affected by the pandemic, so...

• Stay in touch with other business people and entrepreneurs. Surround yourself with people who are facing the same struggles as you and learn from them what works and what doesn't. (Eric W. Liguori, 2020) (Nohria, 2020) 
• Consider collaborating with your competition. Yes, it's a shocking suggestion. And yet, if they've lost on one side and your business on another, can't you offer support so that both businesses can thrive?

(Nohria, 2020)

"In Romania, the idea of partnerships and co-founders is used far less often than in countries that are much more developed in terms of entrepreneurship. Yet companies with a single founder grow much more slowly than those with 2 or 3." (Căzănescu, 2021)

In conclusion, those who adapt survive and thrive. Stay flexible and open to change!