In the previous video, business coach and mentor Cherian Kuruvilla discussed five ways to secure one’s business during and after the lockdown. The five steps included the importance of managing cash flow, ensuring employees’ value to the firm, engaging them in company activities, proper communication and building relationships.
In the current video, he explains these five steps. According to him, the most important factor for maintaining business is to be aware of one’s financial position. “Check dues, reach out to clients, talk to them and reach a mutual agreement,” he advises. He also stresses the need to study various relief measures offered by governments and their benefits to one’s venture.
In his opinion, as employees keep a company going, it is imperative to address their anxieties. “Make them feel valuable,” he opines. “Listen to their concerns. At the same time, reveal yours, too. Let there be clarity in communication,” he asserts.
Another important element he points out is to make employees familiar with new technologies during this work from home time. he feels it would play a great deal in assuring them that they are not left alone.
It is also a time to reinvent one’s strategies, he says. It is all about maintaining relationships. “Connect with your potential clients, but don’t be overbearing,” he cautions. “Check different ways to be productive and reinvent yourself,” he adds.
According to him, it is the time to utilise the power of social media- to share success stories and to connect with partners and vendors.
The most important of all is to understand the fact that it is a battle to be fought together. “Be active on your networks, focus on the positive side of the situation and always look for the best practices people choose,” he concludes.
