Thursday, November 26, 2020
Home Business Tips To Ensure Sustainability And Strengthen Your Business

Tips To Ensure Sustainability And Strengthen Your Business

Women Entrepreneurship Day

The pandemic has disrupted the everyday functioning of businesses, affecting livelihoods, operational sustainability, and profit margins. Many businesses have had to shut shop while others continue to struggle. In the post-pandemic world, businesses will have to adopt new frameworks which allow for short-term growth, while building a foundation of long-term resilience, says Naghma Mulla, President, and COO, EdelGive Foundation.

In India, women continue to enter the workforce, defying cultural and social barriers, realizing their dreams, and proving that they are as adept as men in running a business, Mulla — who has pioneered the cause for Women Entrepreneurship through the #UdhyamStree campaign — tells IANSlife.

Follow NewsGram on Twitter to stay updated about the World news.

However, the post-pandemic economy will bring with it challenges, and in lieu of the same, on World Women Entrepreneurship Day, Mulla, who over the last decade has strategically grown EdelGive into a leading grantmaking organization and a philanthropic fund manager and advisor within the development sector, shares some tips to ensure sustainability:

Amplify virtual footprint:

Remote and online working have become key factors in the stabilization of many businesses. Utilize email newsletters, videos, social media, and even interactive webinars to ensure your business remains at the forefront of your clients’ minds. If you are into product sales, Facebook, Whatsapp, Instagram, and similar social media applications are your ‘New Besties’ to help you publicize your products, reach and engage with your customers. As suppliers, customers, and employees have adopted remote models, transactions have moved online, virtualizing your business existence becomes imperative in dealing with your stakeholders in the post COVID world.

Keep business updated with emerging trends:

The devastating effects of COVID are not going to turn ‘normal’ automatically. It is important to stay relevant for your audience and turn around the ravages into an opportunity for your business. For example, a tailoring business that makes dresses can invest the resources in making masks and PPE kits as well. Prepare for all kinds of short-term situations, focus on the present, and leverage the new avenues to sail through the current reality of things.

Innovation is the key to a business. Pixabay

Innovation and creativity are key:

Due to the pandemic, a lot of industries have dipped enormously. The consumer is left with limited money and their buying behavior has transformed in the past months. But, to find success in these difficult times, you need to understand your customer. Sometimes, customers do not know what they want, but provided they are excited by the product — they will welcome it. The rule remains constant for post COVID era. With innovation and creativity in product and service delivery, a lot of consumers can be pulled into your court.

Stay updated with relevant information:

There are several schemes catering to women at the state and central level. One needs to understand how to optimize one’s business by learning more about the schemes and understand about incubation and accelerator programs for women entrepreneurs by corporations, academia, and other stakeholders.

ALSO READ: Why Indian Businesses Require A GST Compliant Accounting Software

Embellish clientele network:

It is a pivotal time to enhance the client base. Put efforts into generating prospective clients and bringing in new leads. Invest in expanding and strengthening your network. Not just clients but build partnerships to enhance credibility, expand market and knowledge. Also, work hard to ensure that your current clients remain loyal to you by working on your marketing strategies and messaging.

Against all odds, a lot of women entrepreneurs are creating a new India with their breakthrough ideas. With these tips, we hope that this new entrepreneurial energy can take India to the next level and put women at the forefront in the post COVID world. So, get back in the game with focus, flexibility, agility, and optimism because opportunities sometimes come in the garb of a crisis. (IANS)



Most Popular

Most Lungs Recover Well In 3 Months After Covid19: Study

Researchers have revealed that lung tissue of patients who suffered severely from Covid-19 shows good recovery in three months in most cases. The study...

A New Gene Therapy To Offer One-Day Treatment For An Eye Disease

Researchers have developed a new gene therapy approach that offers one-day treatment for an eye disease that leads to a progressive loss of vision...

High Blood Pressure In Elderly Age Is More Linked To Extensive Brain Damage

Researchers have revealed that higher than normal blood pressure (BP) is linked to more extensive brain damage in the elderly, suggesting that it is...

An Exhibition Dedicated To Explore Sikh Heritage, Culture

Revealing vignettes of Sikh heritage founded in its distinctive socio-cultural and visual identity and manifesting a lived faith pictorially, a series of works of...

Outdoor Activities To Explore In Mammoth Lakes Of California

Call it a safety precaution or your chance to finally have some "me time" in the pandemic, solo travel is unquestionably one thing that...

Effective Ways To Reduce Stress And Accomplish Day-To-Day Mental Health

You were possibly trained at a young age about ways to improve your physical health, however, mental health and self-care might have taken a...

Beat The Winter Gloominess By Tweaking Your Home Decor

Winters are truly magical as it brings along the joy of sipping a hot cup of tea, the ease of snuggling in your blanket,...

Reasons To Buy Texas Flag

By Cathy Carter Most Texans tend to get nostalgic and emotional when they plan to Buy Texas Flag because of the sense of patriotism it...

Recent Comments