You are Trying to Manage with the fallout from the Coronavirus pandemic. Now What?
You Have 3 Strategic Paths From Which You Can Choose:
Path 1) Dive - This first group of small businesses will select the dive strategy which involves selling, merging, or closing the business. It will most likely be the safest and lowest risk of all of the 3 options for the small business and their owners in the short-run.
Path 2) Survive - The second group of small businesses will choose to return go back to business as usual with the intent of returning to the status quo. They might reduce their workforce or just implement furloughs, cut back on product offerings, reduce their previous emphasis on customer service, use lower-cost ingredients, get their suppliers to make price concessions, close offices, or retail locations. This is the path that is perceived to be the least risky and lowest stress but in actuality is the most risky and dangerous of the three strategies.
Path 3) Thrive: The third group of small businesses will make the strategic choice to thrive. The decision to thrive will take focus, energy, and investments in their business. These small businesses will think like successful entrepreneurs. They will reassess their business model, their products, services, and processes. They will openly assess the challenges the business is facing, analyze the new market in which they operate, talk to existing and new customers for insights, and create new innovative products, services, processes, and business models. This thrive strategy does include risk in the short-run but actually is the least risky in the long-run. These small businesses that choose the thrive path will create resilient organizations that will build sustainable competitive advantages.
Restart will Provide Insights Into the Following Steps:
Step 1 - Developing Your New Business Model Optoins
Step 2 - Branding and Marketing Your Small Business
Step 3 - Legally Protecting Your Small Business
Step 4 - Raising Capital for Your Small Business
Step 5 - Selecting Your Small Business Software
Step 6 - Growing Your Small Business eCommerce Sales
Step 7 - Building Your Ultimate Small Business Team
Step 8 - Creating Your Small Business Pilots
Step 9 - Managing Your Small Busines Cash Flow
Step 10 - Pivoting Your Small Business to Thrive
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How to Prepare Yourself, Prepare Your Family, Leave Your Job
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