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Pivot

For sectors and industries that may take awhile to resume operations (travel agencies, resorts, etc.)

5 action points you can take today for your business

Evaluate your current business

This is the best time to maximize your online presence and put those hashtags to good use.

Transport to digital platforms in marketing your products. Online selling is now the most practical and effective way to continue earning and expland your customer base.

Start posting on various platforms available such as: Facebook Marketplace and other relevant FB groups, Instagram, Twitter, Google Business.

Assess your strengths and assets as a company

Communication is the key duirng these difficult times. It is the only way to gain the confidence and trust not only of your people but also of your customers.

Welfare of your employees shloud be a priority. Regular health checks and social distancing measures shall be observed always. Be transparent and honest to your employees.

Maximize the use of your social media accounts in managing your relationship with your customers.

Study more about other industries especially essential industries

Easy and clear flow of transaction is one way to keep your customers engaged.

Try exploring to automate other parts of your operations or using cloud or web-based solutions. These options provide your business more flexibility.

Ideate on possible business ideas

The industry is highly dependent on cash - rent, stocks and salary to staff. Avail the privileges available such as the government wage subsidies, rental flexibilities and special loan program applications.

Start renegotiating with your suppliers now to manage the costs.

Test and validate your idea

Consumers will now become more conscious and careful in buying products. Knowing where and how the goods are produced or handled will be essential to the customers.

With that, you have to manage your suppliers and be more strict and careful transacting with them.

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