Facing Our Economic Reality
In the wake of the Coronavirus pandemic, we must figure out how to survive. Today I am sharing a success story. We are hoping to have many more such engaging and inspiring stories to share in the future.
Despite curtailment during COVID-19, we were able to implement some “outside of the box” ideas. Maybe the story below will spark thoughts of how to pivot your operations and strategies, to create your “new normal,” which will work in your eco-system.
Our last blog was: https://accucompenterprises.com/are-you-ready-to-begin-your-regrowth-now/.
In my professional career I have been involved in four (4) downturns, seventeen (17) business closures, three (3) recessions, and maintained a small business during an entire state going broke during the late 1980’s due to the collapse of the domestic oil market. Over my forty-five-year career, I observed experts leading recoveries in these circumstances, so a learned a few techniques. As a result, I am sharing both “best practices” and strategies that I have advised clients who were facing disruption issues. Obviously, none of the above compare to our current pandemic.
Check out my LinkedIn profile: https://www.linkedin.com/in/bjmartinez/.
Here are details that has led to success
A restaurateur in collaboration with AccuComp Enterprises, he was able to maintain his delivery and carryout service for his patrons. Even so, he had to take business continuity measures by implementing a team rotation system, as the health and safety of our team especially during the customers’ food preparation process which were his utmost priority.
- Reduced menu is 8 items that were quick, easy, and profitable to prepare.
- Delivered doorknob menus to all residents within 5-mile radius, including several high rises.
- Offered weekly subscriptions to customers who ordered at least 5 days per week, a $2 discount on each order.
- Reviewed expenses daily to determine what could be postponed.
His landlord deferred rents for 3-months, and he received a CARES loan, which bolstered his available cash.
By reconsidering how you have been doing business, you will be able to survive the COVID-19 pandemic. How do you expect your customers to behave moving forward? What will and won’t matter to them, and how can you accommodate who will likely be a new type of customer? Can you digitize any of your products or services, and start offering them online? Can you implement technology to balance any loss of earnings by offering new ways to connect with your customers?
We are asking your business to share your strategies and successes. Please contact us at firstname.lastname@example.org.
We are all in this together.