How Entrepreneurs Are Navigating The Effects Of COVID-19
The coronavirus pandemic has had a devastating effect on the world, claiming the lives of more than 200,000 people and counting. In addition to the tragic loss of life, the virus has also had a devastating impact on our local and global economies. The mandatory shut down of non-essential businesses has presented its own set of challenges, to say the least. In an effort to provide businesses with strategies to overcome the hardships they are encountering due to the pandemic, OnePiece Connect virtually gathered together entrepreneurs to share their insights.
An Entrepreneur’s Roadmap through the Challenges and Opportunities of the Coronavirus Crisis
Kicking off the event, Prakash Gupta, Founding Chief Revenue Officer of Turing, presented his roadmap through the challenges and opportunities of the coronavirus crisis. He began by sharing his top secrets to surviving the crisis. Secret number 1? A positive mindset. “Dig deep, and always bring a good attitude to work”, he says.
Once you’ve reset your outlook, Gupta recommends you stop. Stop relying on a top-down sales model. Stop relying on outdated marketing channels. Instead, start focusing on client retention and expansion efforts. Start finding new ways to funnel, whether it be through events, creative pricing strategies, or other channels.
Gupta acknowledges that exploring new channels now might be riskier. There will be an impact on the budget, he says, but smaller budgets must be utilized to try new channels.
Finally, Gupta recommends switching from selling to learning. He contends the easiest way to achieve these goals is by being sensitive and listening. Considering Gupta’s positive outlook, it’s not surprising he left the event participants with these final thoughts: “Stay alive and make sure all your loved ones are mentally healthy and strong. Focus on that, everything else comes after.”
Navigating Covid-19 through conscious Leadership, Clarity, and purpose-driven Marketing
Next up at OnePiece Connect’s latest virtual round table was Sebastian Naum, Co-Founder of Socketbox and Go Global Agency. He is navigating COVID-19 through conscious leadership, clarity, and purpose-driven marketing.
Naum says conscious leaders all have these top traits in common: compassion, emotional intelligence, clarity, and purpose. A conscious leader instills confidence, with clear, honest communication. This leads to Naum’s second strategy for navigating the coronavirus crisis: clarity.
Clear messaging that shows your business’s purpose will resonate with consumers. He recommends you show that you care, show your purpose by partnering with community influencers, then promote it!
The final strategy Naum shared was redefining your brand. Use this opportunity to do things you didn’t have time to do before. Redefine your execution process with creativity. It doesn’t have to be on a large scale; think long-term.
Circling back to his strategy of purpose, according to Naum, the best way to think long-term is by shifting your focus on building your brand through mission and purpose. He points out that 52% of participants in a study about what attracts them to a brand sited purpose. Consumers are looking for a brand that stands for something bigger and aligns with their personal values.
While your business navigates these uncharted waters of the coronavirus pandemic, keeping these strategies at the forefront of your approach will help you overcome any obstacles in your way.
OnePiece Connect, a business line of OnePiece Work, provides global expansion services for companies with the goal of unlocking international markets. We offer strategic consultation services for global business expansion, along with access to our extensive overseas platform and international network.
OnePiece Connect hosts a series of events throughout the year designed to foster discussion on cross-border trends. Each event brings together entrepreneurs, investors, and product leaders from various industries to share and discuss their insights. The event program is made to encourage collaboration between talented professionals from around the world, spurring growth and an understanding of the opportunities created by the cross-border industry.
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