Entrepreneurship 101: Survival of the Fittest


We confront the devastation brought by Covid-19 daily. Although the government has reported that roughly 50% of the entire population was vaccinated, we see the death toll still going up. The pace might be slower than last year. But the sting of the pandemic is still as lethal as ever.

We are still struggling with our economy. In the first stage of the pandemic, the government saw 3.3 million small businesses close.  This number is alarming because more than 90% of the registered US companies qualify as small businesses. It is indeed worrisome because they employ almost 50% of the entire US workforce.

After quantifying the loss caused by Covid-19, what shall we do next? This question looms large for entrepreneurs. It is not only the future of their businesses that is at stake here. But people’s jobs also rely on them. Let us tackle the different factors concerning your company’s future.

Social Media

Most entrepreneurs think that social media is a platform to promote their products. It might take the form of physical merchandise or intangible service. This type of business owner follows the traditional marketing mix where there is only a one-way flow of communication.

The evolution of the market led to the development of SIVA. Social media is an excellent tool for SIVA. Instead of creating a product and promoting it, study the trends in social media. Your company would do well if you develop a product as a solution to the public’s needs. Your product is now the S in SIVA.

Let us say that you have noticed that people gave raving reviews about a local juice stand. But at the same time, a few of them mentioned that they wish the store would operate 24 hours a day. In this case, you can grab the business opportunity by offering organic fruit puree.

Your product is now the solution for those who want fresh juice in the middle of the night. This step establishes a loyal base of followers because you also cater to those who cannot wait for their juice. It has become your competitive edge.

Cloud Platform

We will tackle the I in SIVA later. For now, let us work on the A. This letter stands for access. Investing in a cloud platform or CRM will help you efficiently deliver your merchandise or service to your customer. This tool allows remote access.

When you have this type of tool, you or your employees can access information anywhere, anytime. As was mentioned, this will improve efficiency. It will also prevent employee frustration because answers are right at their fingertips. Although Microsoft Excel allows remote collaboration, its functions are limited.

Let us say that you offer artisan chocolates. In this example, you already have two stores open. Your employees in the satellite branch can still serve patrons who usually come to the main office. If you have to close the original business premises for the day, you can reach out to your team in the other store to serve your clients.

Real-time collaboration is possible because of this tool. Your employees can access any information that you input from your home or the headquarters. You can also see their work in a snap of a finger. Thus, productivity levels increase.

entrepreneur talking to employees

Digital Marketing

Let us talk about the I of SIVA. In the traditional marketing mix, this represents promotion. Most entrepreneurs rush towards digital marketing. But according to the government, consumers do not trust this.

The article pointed out that consumers rely on traditional marketing when it comes to making purchase decisions. You must build that trust with your customers. A professional SEO company can help you with that.

Why hire one when you can create a website yourself? If you cannot do that, you can hire someone to make one for you at a fraction of the cost. But most freelancer graphic artists do not know how to draw traffic to your website.

An SEO company can attract corporate clients and end-users. Most of them offer packages that will increase your online presence. Or you can hire them to create a professional-looking website. Their output will draw other businesses to hire your company.

You can opt for their digital marketing packages. This bundle might include blogs and service pages that will boost your search engine visibility. These articles are subtle advertisement tricks that will bring regular folks to your website. Once they trust your brand, they will become loyal customers.

Earlier this year, BBC published a grim forecast for the global economy. Many experts share this sentiment. But you can shield yourself and your team from the dim reality.

These tips are not foolproof. But they are designed to help your company survive the economic slump. You can adapt a modified version that suits your business model. This way, you will reap the maximum benefits.

Spread the love
Scroll to Top