How Nigerian Businesses Can Survive Post COVID19Kehinde LAWAL
The Corona Virus Pandemic has been a painstaking phenomenon for most businesses in 2020. While some people had lost their jobs, some businesses are trying to get back on their foot. Nevertheless, the whole situation may end up being a blessing in disguise to some smart entrepreneurs, and the question is whether you will be among? I’m sure I will.
A lot has been said about how businesses can survive after COVID19 but the truth is that little has been done or implemented. The bitter truth is that majority of those giving advises haven’t ever experienced such a pandemic before talk less of knowing how a business can survive from it.
Although it may look as if I’m discrediting expert opinion, that is not completely true. I only want you to listen to them but grab a pinch of salt and only implement what is good for your business. This also includes what I’m about to share with you in this article. Don’t follow my advice blindly. You’ve got to do your research and choose what works best for you.
Only you is responsible for you. Not me or the experts giving advice.
5 Ways Nigerian Businesses Can Succeed Post COVID19
1. Don’t reduce your price:
I don’t need to remind you that you should never compete on price because those who do soon go out of business. What you need to compete on is value. Give your customers more value than your competitors, call them, make them feel important and give them a good experience. This just the perfect time to do this and I must confess that I am still learning how to do this well.
Another thing you must understand as regards pricing your products and services is that things will get more expensive during this period. The Naira might get devalues against the dollar, prices of raw materials may skyrocket, even food may go up in price. With all this, mistakenly reducing your price may put you out of business as you won’t be able to deliver on your promises. I just hope this won’t be you. Now to the next point.
2. Don’t compromise on quality
Yes, this is very true and important. You shouldn’t reduce the quality of your products now simply because you will end up losing your customers. The competition now will be so intense and clients won’t take excuses or mistakes from businesses. You just have to get the job done well.
By the way, you should even be thinking of increasing your quality of products and services instead of reducing it. If you can follow tip #1 (which is not reducing your price), you will be able to cover your basic expenses, thus providing a great product or service.
3. Partner with others
Having partners can save you a lot of costs because they tend to help in areas that you’re not good at.
This moment is not the time to try to do everything all by yourself. A lot of people already lost their jobs and they would be willing to assist you. A lot of companies are already down on sales and they would be willing to help you get things done. Just use them and it may cost you lesser than you think.
9jacashflow already has a lot of partnership offers during this lockdown period, and this can also be you. But the question is are you ready to partner and deliver to brands and companies that require your services.
To even blow your mind, some of my partnership gigs isn’t done by me. I still give them out to friends who get it done and share the profit with me. My dear friend, you’ve got to partner.
4. Be kind
I’m sure you’re perplexed on why being kind could be a remedy to survive post COVID19. And I will explain below.
To me, kindness is one of the sure-fire ways you can navigate through this current pandemic and economic situation. A lot of people already lost their jobs or businesses to Corona(which they don’t fully understand why). They’re simply in trying terms and would mostly relate with others in harshness.
It’s therefore imperative that you don’t treat them back the way they treat you. Be a little kind. I know it might be difficult but pls try. That’s the only way to navigate through because customers, bosses, government officials will be mad at you. Do not react, just keep calm and treat them well. Note that I’m still learning to do this as well. So learn to stay calm.
5. Online marketing
Online or Digital Marketing is simply the process of selling stuff online. And I must confess that this is much easier and more profitable than even selling things at physical stores.
I must also let you know that during this Corona Lockdown that every Physical business where shutdown, most online businesses where still been run. Digital is the future, and it’s about the right time you join the wagon of those marketing and selling stuff online.
What you need to sell online is a good product/services and a good medium of selling it. And depending on your product the medium can be the following:
- Your website
- Jumia or Konga
- Youtube etc.
I hope you found this article impactful, and if you know of any other tips to successfully manoeuvre post COVID19, don’t hesitate to share with us in the comments below.
I look forward to hearing from you.
Until next time, keep learning my friend📖📚.