Startup guru Benjamin Berry of Minnesota says the key to the survival of businesses during the era of COVID-19 is strategic adaptation.
LAKEVILLE, MN, USA, April 15, 2021 /EINPresswire.com/ — Businesses representing all sectors of the economy have taken huge economic hits during the pandemic. Sadly, many of them have had to shutter their doors permanently. These closures in many cases have left families in ruin, and neighborhoods in shambles. There is a real loss associated with the closures of smaller businesses situated in neighborhoods because they are generally the lifeblood of the communities they are in. Entrepreneur Benjamin Berry from Minnesota says that businesses can not only survive the pandemic, but they can also secure their bottom line and increase their profitability.
Business owners invest a lot of time and energy building their businesses. For many, their business is a long-term dream they pour themselves into. When a black swan event like the COVID-19 pandemic comes along, it can be frightening, especially when it appears that there is no end in sight to decreasing or nonexistent profit margins. “I get it. I have started many businesses, and I know what it is like to feel like the walls are caving in. What I have learned through experience is that at some point every business will experience a crisis, but the key is learning to adapt.”, Benjamin Berry of Minnesota said.
Reviewing the financial condition of the business is only the beginning of what is needed to survive a crisis according to the startup guru. Self-reflection is a determining factor in whether a business survives or fails according to Mr. Berry. “Taking some time to identify the things that have been working well and the things that have not served them. Sometimes people can be a little stubborn and stuck in their ways. Taking time to understand the gravity of your situation and eliminating the things that have not been helpful when you are in crisis mode, is paramount. If something was not working when times were good, it certainly will not work when you are struggling. Business owners should never be afraid to eliminate failing policies or restructure and try new things if it is in the best interest of their business.”, Benjamin Berry from Minnesota said.
Mr. Berry says that agility and the ability to adapt are two of the most essential elements businesses must have to make it through the pandemic according to Mr. Berry. Business owners have to not just be willing to change, they must learn to embrace it. “Learning to be flexible while delivering quality customer service will keep the regular customers coming back, and bring in new ones. Companies have to be creative and think out of the box. They have to think about new ways to increase revenue and at the same time add value to the services they offer. In addition to these things, business owners have to learn to target their customers and center their marketing plans around those they are targeting.”, Benjamin Berry of Minnesota said.
Web Presence, LLC
email us here
Source: EIN Presswire