Plan An Online Business Comeback After COVID-19 Chaos

COVID-19 has made 2020 a rather grim year for every industry that people would care to crowd for. May it be concerts, tournaments, opening ceremonies, you name it - everything went down the drain for a couple of months. These months felt like an entirety of waiting, and there have been rumors that everything is finally coming to an end. With some schools announcing to open again soon, businesses slowly getting back on track, we sure look like frightened raccoons leaving their homes to venture out into the open. Huge business owners that everyone looks up to have told the world that there is no need to panic over setbacks in the online business e-commerce platforms. The co-founder of Alibaba, Jack Ma, stated that ‘2020 is the year of staying alive and not a time to dream or plan.’ Given the setback Alibaba has to face, having the majority of its warehouses and shipment facilities in China, such statements are justified coming from him.

The Coast Is... Clearer

After two months of strict lockdown in the US, restrictions are becoming less strict, according to BBC. Parks are allowing up to 6 people gatherings from different households, some sports such as tennis and golf are being permitted, and so on. Of course, people are respectfully told to maintain social distancing if they meet outdoors. In such circumstances, operating a business is not restricted at all anymore. Things can go back to normal. If only we hadn’t had to suffer from huge losses beforehand!

Your Business Comeback

There have been worrisome statistics popping up everywhere. According to the National Federation of Independent Business (NFIB) about 92% of small-scale businesses report negative effects due to COVID-19. Online businesses have had to suffer from product shipping disruption, especially if they depended on receiving stock from China. There’s no time to sulk, however, because you are the only one who can turn this around for the better.

  • Assess and add up all financial damages

We fear the unknown, which is why the more you know, the better. Research your own online database, analytics, and financial damages. Once you know the point of recovery, you can set up milestones for motivation. Start your journey step by step and make it back to where you started going downhill.

 

  • Build a new business plan

Online businesses work best when they have a well-plan strategy. You may have to build a new business plan, complete with a social media marketing campaign, website online presence, new expertise, and tactful creativity.

  • Make an investment

Predict the correct time for making an investment in your online business. Perhaps you can update your website, pay for a collaboration, a new product, or hire an affiliate marketer? Investments after COVID-19 will most likely be fruitful because everyone wants a fresh start to life. It will be received well. Just remember to do your homework!

  • Create a contingency plan

Remember to keep your online business safe with you as you make your comeback. Who’s to say, God forbid, that there may be a second wave of virus approaching? Arm yourself against future setbacks by learning from COVID-19.

You may learn more about how to tackle crisis situations by huge brands and e-commerce websites at other online sources. Do you have a small business that was affected by COVID-19? Let us know your story in the comments below!

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