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Does the Coronavirus Epidemic Put Small Businesses in a Profitable Place?

Have you heard about “A Blessing in Disguise”? Though it seems off topic to many that are not true. The Coronavirus is hitting hard on the world’s economy and everyone knows how it is going to impact the sales and revenue numbers. At times, where the giant players are trying hard to sustain themselves in this crisis, small businesses have a golden opportunity to bloom.

 

The panic wave of Coronavirus has let many big businesses to shut their shutters and wait for the situation to get back to normal. In the middle of this hurricane, the world has turn upside down. But to a big surprise for everyone, there is a ray of hope for small businesses to grow and explore their expansion.

 

Thinking how is it possible?

 

Nothing seems to be impossible when you have the right technology at your side. Let’s first talk about the various downfalls that giant players are facing after the Coronovirus attack.  

 

With the official regulations advising the public to stay at home and maintain social distancing at the maximum, the sales of many businesses have been curtailed. From key supply chains to retailers dealing, everything has come to a standstill. 

 

The fear of getting exposed to the contagious COVID- 19 has let people confine themselves in an enclosed place. This has made it more obvious for the businesses to remain hopeless with their customer’s visit to their shop. The speeding up the uncertainty of shutting down of businesses has created a new space to the on-demand businesses in the market. 

 

Looking towards the wider picture, the recession is inevitable. This means survival existence will again be challenged in the market. For those, who fits the current market needs will sustain and others have to pack their bags. 

 

 

The survival of the Fittest

Reconsidering the current situation of the market, one can analyze that as soon as the virus course will be down. Everyone would get a chance to have a fresh start and then the battle for the survival will actually begin. So, what you think is going to fit in the shoes of the expectations of the market? The one who are already big players or the one who changes themselves to become the need of the market?

The answer is simple! The market needs those players who know, understand and are capable of meeting the new demands of the business. And you can be one of them, easily. 

The Drifting ways of Technology

 

 

 

 

 

Technology has been a great saviour when it comes to gear up your business with an unexpected crisis. From taking care of the customers’ demands to ensuring that orders are delivered on time, technology has been doing it in all the right ways. 

 

There are certain proven aspects of technology that has already been responsible for making many businesses profitable and sustainable in the market. 

 

Talking in length about the current crisis of virus and how technology can be a game-changer, here are the best hand-picked solutions for the same. 

 

 

We are here for you!


No matter how bad the situation, our tech experts are here to make sure you come out as a winner from this virus crisis. Its time for you to shine! Take your first step towards success with us and the rest is history, which the world is at your fingertips

For more information about our products, let’s get connected we are here to ensure your success.

 

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How can Technology help you to realize your dreams?

Start with determination in your mind and technology in your hand!
Delivery service is a winner in kick-starting a new business idea.
The changing time calls for quick action. Picking up the idea, to begin with- is the first step. And what about the rest of the planning and execution?

Today’s business KPIs are measured by its efficiency to get things to work as per the expectations of the customers. Matching the algorithm of demand and supply is the key to sustaining in the competitive market. Lets us help you get started.

We have all the tools to make you successful!

Today’s business KPIs are measured by its efficiency to get things to work as per the expectations of the customers. Matching the algorithm of demand and supply is the key to sustaining in the competitive market.

Updating your Business Plan for the 2020s

Introduction


The rise of globalisation and the evolution of technology has led to a significant transformation in the business sector. We know that the only constant factor is change, which means that businesses need to continuously adapt and improve. One major change has been the digital transformation of online business.

A mid adult African American businesswoman concentrates while working in her office.

Business plans have to be updated regularly. With the boom of technology, many companies are ensuring that they have an online presence to adapt to changing markets. So, if you’re wondering how to update your business plans for the year 2020, the answer is digital transformation.

Before we get into how you can update your business plans for the 2020s, consider a few things. Where do you want your business to be by the end of 2020? What are other competitors doing to stay on top of their game? What are some major gaps in your business plan and how can you fill them? This process might seem daunting, but here are a few steps that can help you update your business plans.

Brainstorming


The rise of globalisation and the evolution of technology has led to a significant transformation in the business sector. We know that the only constant factor is change, which means that businesses need to continuously adapt and improve. One major change has been the digital transformation of online business.

Business plans have to be updated regularly. With the boom of technology, many companies are ensuring that they have an online presence to adapt to changing markets. So, if you’re wondering how to update your business plans for the year 2020, the answer is digital transformation.

Before we get into how you can update your business plans for the 2020s, consider a few things. Where do you want your business to be by the end of 2020? What are other competitors doing to stay on top of their game? What are some major gaps in your business plan and how can you fill them? This process might seem daunting, but here are a few steps that can help you update your business plans.

Monthly and Annual Reviews

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Although there have to be a constant review of business strategies, monthly and annual reviews are a must. Annual reviews help you gather large amounts of data and apply the same to improve your market, whereas monthly reviews can help alter strategies and push your business in the right direction.

Getting Feedback

Gaining customer feedback is vital to improving your business and filling gaps in the market. A customer that is retained is much more valuable than a new one. Increasing customer satisfaction and implementing necessary changes can help your product or service go a long way. Figuring out what problems you’re helping your customer solve is important to retain them as well as improve your product.

Developing Strategies/Goal-Setting

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Business planning outlines require having a clear vision or goal. When you come up with clearly defined strategies, both short-term and long-term, it allows your business to function smoothly. However, because market trends are always changing, it is important to be aware of those changes and constantly alter or change the existing business strategy.

Figuring out Funding and Training

Another important step in updating your business plans is to see how much funding you will need. Having a clear strategy and plan will help attract the right investors. You also need to invest funds into training your staff to operate new and improved methods of working, especially if you’re switching to a digital platform.

Keeping up with Changing Markets

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Market analysis is key. See what other competitors are doing that are improving their reach and sales. Identify gaps in your current market and apply the necessary strategies to fill them. If it means hiring someone for a completely new role, do it. With the kind of fast-paced lives that we lead and constant change in market trends, having the ability to quickly adapt to change is important.

Digitization

Because the world has now shifted to a digital platform, it only makes sense for businesses to do the same. Most companies operate on a digital platform and have seen tangible benefits of doing so. Including digitization as part of your updated business plan will undoubtedly transform your business and help you tap into a larger market. There are many platforms that are out there that can help your business go digital. Konnect e Global is one such platform.

We look forward to hearing from you…