It has become challenging for most firms to keep their financial wheels turning during the lockdown period due to less income churn and the general change in the global financial environment.
Sadly, the impact on startups or small firms can be way harsher as they have more limited cash reserves and a smaller margin for handling sudden slumps. The ripple effect of this shutdown will have a key impression on India’s economy, as all industry sectors get affected resulting in low revenue generation due to an eventual halt/slump on the sale of goods and/or services. It is presumed that India’s growth rate in FY20-21 will be down to 2% from a range of 4.7%-5.2% as was predicted.
So, during such examination times, startup organizers will have to change to a new set of commands and be careful of the following aspects to alleviate risks and to survive the slowdown caused by the impact of COVID19.
Tips to Get a Bounce Back in Growth of your Business in lockdown are as below:-
- Whatsapp Business– it’s a good option to start with WhatsApp, In today’s life everybody in the world using WhatsApp for their living it’s part of your life. you can use it as your weapon to send personalized messages to your clients attach your catalog and give some offers to attract them to buy, also you can offer free delivery locally nearby your area.
- Social Media – Prepare your business profile online on Facebook, Insta, Twitter, etc to promote your products or services online. it’s very simple and easy to start with this tip or if you have no idea about it Consult Now
- Website / Ecommerce Store – This thing is a bit techy to build your online store yourself but like you, all know that customers are buying online nowadays and the online market is growing very fast as compare to the traditional market. so it’s very important to have your business online presence to target a chunk of visitors and leads. If you are confused about how to build a website we have a few recommendations of the agency that can help you in building an elegant online store at an affordable cost Click Here to know more.
- Start Delivery Locally– Start with local Delivery in your area, it’s not limited to only daily FMCG items you can also deliver items like clothes, electronics, etc as per the demand of your customers although you can charge a small amount of delivery which is feasible to you and your customers.
Hope you like our suggestions listed above we are happy to help you even more by coming with some new ideas. till then enjoy reading more Tips here bye Happy Growing!