Experts have said it – businesses that depend largely on the human behavioural pattern will take longer to bounce back. Such business will include – hotels, tourism, cinema-houses, game-houses, etc. We have categorized them as the ‘Non-Essentials’.
Banks are in ‘Special Positions’. Savings and investment may drop, but people will still require banking services to survive and Banks will be forced to cut down interest rates and give out loans. Other financial platforms may fall under the Special Position.
We all agree that one of the positive sides of the coronavirus pandemic is the rejuvenation of the technology/internet sector as well as the health sector, et al. We have tagged these groups as ‘Essentials’. Hence, the health sectors will employ more hands and need more personnel. Tech companies whose tech provide essential services will continue to strive. E-commerce will continue to enjoy the dividends of the pandemic, and so are online school facilities and programs, etc. Essential services like logistics, food, drinks, transportation, data services, et al, will continue to flourish.
What Your Business Should Do?
Do you understand that many consumers have taken to the internet more than ever? Do you understand that essential services are paramount even after the lockdown? So, whatever your business must do to survive after the lockdown must be centred around two things – essentials and digital/online presence.
Other thoughts are subject to chance and time. And that time, according to experts, will last for about one and a half year before normalcy returns.
So, let us help you to mitigate the long hours of brainstorming with your board members.
- Align your business with essentials – If your business clause is not among essentials, and by our assessment above, does not even fall under special positions, you may want to see a corporate lawyer to help with the technicalities of increasing your object clause to bring it at par with essentials.
- Invest or buy shares in essential companies – You do not want to take the heat hoping that your business will bounce back by cheer thinking. Be pragmatic. To change the game or take a share, you must be in the game. Find the essentials in the game and invest in them. Take shares in essentials. See for example – https://decritic.com/brands/covid-19-companies-making-huge-gains-in-2020/
- Take pragmatics steps – This is sad to say – cutting down on all non-paramount in the running of your business may be inevitable. But begin with other stuff first before letting go any employee, because, at the end run, it speaks volume of your company’s philosophy and culture.
- Finally, there has never been a time to take your digital marketing and content/copywriting more seriously than now. You want your brand to be seen always, you want to show you are still relevant. You don’t want to be swallowed up into the dark envelope of oblivion.
De Critic is one of the top 10 Content/Copywriting agency in Nigeria and has a strong base in South Africa as well. We help brands, ad agencies, etc, on content/copywriting, ad writing, technical writing, blog writing, etc. Through better contents, we generate leads for our clients. We also help in critiquing brands for their betterment and promote brands in our blog with over 25k readers. Feel free to send us an email – https://decritic.com/contact/ or firstname.lastname@example.org
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