We live in a highly competitive business environment, where most start-up businesses close down or file bankruptcy due to a lack of competency. It is easy to establish a business, but to make it succeed and run its operations smoothly requires ample hard work.
Respectively, every field requires a particular skill set to achieve the targets. Hence, in these challenging times, people need to evolve with time and polish their abilities to succeed. It will help if you have an amalgamation of expertise to conquer your goals, but communication skills seem to have taken the focal point in recent times.
Communication means exchanging information, and communication skills are the ability to impart knowledge in ways that are understandable for recipients. Not everyone possesses these qualities, but with training and exposure, one can learn them. Regardless of field one chooses to serve, communication skills are vital for survival. Experts comment that people possessing practical communication skills are more likely to achieve their goals. Communication plays a crucial role in enhancing business practices as it ensures the efficient and seamless running of an enterprise. Whereas in politics also, smooth transmission of messages is essential, and success heavily relies on it.
Advancement in technology has transformed modes of communication and enabled humans to use several mechanisms to transmit information. User-friendly devices have made it convenient to send eloquent messages across. There are different types of communication mediums: written, verbal, visual, and listening. Effective use of dialogue in the technological era means the use of appropriate words. Still, it also means that you are aware of when to use which mode of communication and with whom. A degree in communication equips you with all such knowledge and provides you with opportunities to demonstrate these skills. When communication degree holders step in the corporate field, persuasive communication skills give them an edge over others. The good part is a career in communications is not limited to any one sector, and you can quickly obtain a lucrative job in any industry. For example, currently, politics and business are the two leading fields. Both are experiencing growth and booming at a fast pace. Therefore, a communication degree provides you with multiple career opportunities in different areas.
Below we present a detailed analysis of how communication plays a pivotal role in both the leading fields.
Advantages of Effective Communication in Business Field
An organization runs on several departments and involves numerous aspects to run its operations smoothly. But communication plays a significant role in binding all the business processes together.
Benefits of effective communication in the business arena are far too many, and some of them are as follows:
1.Boosts Productivity
Effective communication is a quality of leaders, and team members of such leaders feel a sense of contentment while working under their leadership. As a head in any department, dynamic communication helps transmit the vision and motivates employees to give a hundred percent. Clear instructions mean that employees know what does the company wants from them, and they take deadlines and instructions seriously, which provides a boost to their productivity.
2. Loyalty
Effective communications build a sense of ownership in the staff, and they start identifying with the company. They develop loyalty towards the organization, and if someone badmouths it, they take it on themselves to defend it. Moreover, they never think of switching companies, even if they come across a better opportunity.
3. Customer Satisfaction
Business often runs on the rule that a customer is always right. Satisfying customers is the topmost priority of enterprises as they want to sustain them. Effective communication is vital for customer service as they have to deal with different temperaments, and satisfying all of them requires persuasive communication.
4. Team Bonding
A team that bonds well deliver better results. Communication assists in developing synergy, which increases team morale. Therefore, team members who step in to share responsibility and workload, yield profound results.
Advantages Of Communication In The Field Of Politics
The field of politics is dominating, as it concerns millions of people. Decisions of politicians have effects on the whole country. Better communication skills are of grave importance in this industry because it can impact a lot of significant decisions.
The following are the top benefits of effective communication in politics:
1. Convincing Power
Political people want to convince people that they possess all the qualities that the community wants to see in their leaders. They require the public to believe in whatever they say so that political people can get votes. Effective communication is a key to win confidence, and it works like magic in convincing others.
2. Enlightens People
Many times, people are not aware of the problems that a nation is facing. But politicians use effective communication to enlighten them about the ongoing issues. They raise awareness about injustice, social and cultural intolerances, and persuade people to make better choices.
3. Dynamic Campaigns
Campaigns are an indispensable part of politics. Effective communication is the base of a powerful drive that generate desirable results. The process of running campaigns require people from different departments, and effective communication is what makes the whole procedure seamless.
4. Ability To Bear Criticism
Criticism and scrutiny are inevitable in politics; however, it takes people with thick skin to bear it with utmost patience. Effective communication allows them to draw a line and create boundaries. It also helps to build excellent stamina to take criticism positively and then use it for their improvement. These criticisms help pinpoint weak areas and give politicians the chance to improve the situation and resolve the general public’s grievances.
Conclusion
Communication is vital for every industry. Similarly, the world’s leading fields, business, and politics cannot thrive without communication. Excellent communication skills guarantee better performance, which in turn yields good results. Hopefully, with the help of a detailed analysis above, you can easily opt for a communication degree and increase the chances of getting a high-paying job.
https://www.strategydriven.com/wp-content/uploads/meetings-1149198_1280-1.jpg8481280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-07-28 14:00:412020-07-28 14:04:22How Effective Communication Skills Can Yield High Results in Leading Fields: Business and Politics
If you run a writing business of any kind or are thinking of starting one, then one of the main things you’re going to need to have in place before you even go any further is to pick your niche.
Many writers struggle with the process of choosing a niche because they think it’s going to be overwhelming and will also limit them in terms of work, but this couldn’t be further from the truth, and in fact, having a niche to fall back in is only going to bring you more opportunities with better clients, so in this post we’re going to share with you just how to choose a niche for your writing business.
Look at your passions and interests:
If you run a business, then of course you’re doing it because you want to make a difference, but you’re also doing it because you want to work on something every day that you’re truly passionate about, and so this should be the very first step when it comes to picking your niche. For example, are you a passionate traveler and love to share your experiences or just write about travel in general? Then you could start a travel writing business, a blog or just aim to work with clients within the travel industry.
Look at your experience:
Although having passion for what you do is great, it’s often not going to be enough in and of itself, so having a look back over your experience is also a good place to start looking. For example, do you have a background the in the building or construction industry where you could write about things like Telehandlers? You may think this isn’t valuable, but this is the beauty of having a niche – as it gives you the edge over the competition.
Look at your skills and talents:
Even if you don’t have a lot of hands-on experience in a specific industry, you may be especially skilled or talented in a certain area, so instead of going for something industry specific when choosing your niche, you could choose a certain type of writing, such as marketing copy, websites, or even ebooks to niche yourself that way.
Look at what’s profitable:
If you’re running a business – no matter what industry it’s in, you need to be making money in it, otherwise it’s not even a business, so this should be a priority when it comes to choosing your niche. As much as having passion, skills, and experience is a great thing, you also need to be realistic and look for the places in the market where good money can be made, so when picking your niche, you should really be considering all of these things to make sure you can tick at least something off in each area and be able to identify a niche that works overall.
We hope you found this post helpful and that now it won’t feel so crazy overwhelming to go and pick a niche for yourself to run your business with. Picking a niche doesn’t mean you’re going to be stuck with it forever, but it’s something you should definitely identify to start with.
https://www.strategydriven.com/wp-content/uploads/computer-desk-email-7112.jpg8531280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-07-28 11:45:222020-07-29 20:51:24How To Choose A Niche For Your Writing Business
Working in an uncomfortable environment can be tedious and unenjoyable. If you are too hot, you can become lethargic and tired. If, on the other hand, you are too cold, then it can be incredibly challenging to focus on the task at hand. Moreover, if you aren’t comfortable in your offices, then it is very likely that your employees aren’t either meaning that productivity across the board isn’t what it should be.
Do yourself and your workers a favor by taking measures to improve the environment of your offices. Here are three ways to help you do just that so that everyone will be able to work comfortably.
1. Good Ventilation
No one likes to work in an enclosed space that becomes stuffy and stagnant. If you don’t have high-quality fans and ventilation throughout your offices, then the air is very likely to feel stale and uncomfortable. This doesn’t just apply to the hotter months of the year, either. When the heating is running in your offices during the colder months, then it is just as likely to feel stuffy inside if you aren’t taking the proper measures to circulate the air.
Look for the best heat recovery ventilation system that you can find to help keep the climate of your office comfortable and circulated. Such systems can also help save on energy costs in some scenarios as they can help the air in your offices reach the desired temperature more efficiently.
2. Window Coverings
It is always nice when an office space has plenty of windows that let in natural light. Windows can also make a space feel larger and less cramped. That being said, lots of windows make it difficult to control the climate in an office as they allow the heat from the sun to stream in during the warmer months of the year. The glass of windows can also allow cold to enter during the winter months.
Window coverings can help provide the extra insulation that you need in your offices. This can keep out the extreme temperatures outside so that you and your workers can have more control over the internal temperatures of your workspace.
3. Quality Office Chairs
A day at the office can be made increasingly more uncomfortable without the right chair. In fact, a poorly designed or worn-out office chair can lead to unbearable back and neck pain when sat in for too long. Sitting in the incorrect type of chair all day can also lead to poor circulation throughout your body, among other health risks. The chronic, nagging pain and discomfort from the wrong chair can make it difficult to focus as well.
While good quality office chairs are an investment, they are one that is definitely worth it in the end. By ensuring that you and your employees are sitting comfortably throughout the day, you can help ward off the chronic pain that generally accompanies jobs that see people sitting at desks all day and contribute to an overall more comfortable working environment.
https://www.strategydriven.com/wp-content/uploads/gray-office-rolling-chair-near-brown-wooden-desk-in-front-of-37347.jpg8011200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-07-27 19:00:482020-07-27 14:59:123 Things That Will Make Your Offices Way More Comfortable
Transparency in communication has become more common in all sorts of enterprises. In the nonprofit and responsible profit sector, candor and authenticity are considered high value. Customer loyalty tends to increase when there’s an emphasis on transparency. Leveraging the power of a good story, transparency is a positive alternative to a competitive, secretive attitude; it’s a more compassionate way to function. For stakeholders, trust is a major issue; transparency helps facilitate it. Consider several ways that transparency can benefit your organization.
Relationships With Investors
If you’re building a relationship with a possible investor, increasing the trust level can be facilitated with the wise use of transparency. There’s a good bit of competition for funding, and investors want to recoup their money as soon as possible. It may be daunting to decide how you want to present your brand story; the assistance of professionals such as PR firms in Portland Oregon can get you started in the right direction. Judicious transparency indicates that you’ll be honest and thorough with your business plan and consistently keep investors in the loop.
Community Trust
In this case, your “community” is everyone you come into contact with — it’s not only a geographical designation. Transparency is all about awareness of the social norms of your customers and stakeholders while having sincere communication content and style. While it’s important to have a reputation for honesty and integrity as sort of a baseline, portraying an image of absolute perfection is unsustainable, unrealistic, and may backfire. Keep it real by being straightforward about the bumps along the way, and describing how you’re overcoming them.
Employee Morale
As you build your organization, transparency with employees is a valuable investment, especially in the early stages. Higher productivity, more confidence and creativity, and less turnover are associated with greater transparency. You’ll also build your word-of-mouth reputation in the professional community.
Customer Relations
Customer confidence starts from a foundation of trust, and transparency helps build it — particularly if you’re a human service provider. Firms like a healthcare PR company Portland can help you craft your message so it resonates with customers. Your organization gains credibility if customers see moments of vulnerability within a framework of integrity and commitment.
Depending on your type of organization, there are many ways to be transparent and professional. Take a look at similar businesses and see how they’re effectively weaving transparency into their stories, and mine your own experiences to craft a compelling message.
https://www.strategydriven.com/wp-content/uploads/woman-in-black-blazer-sitting-on-black-office-chair-3727464-scaled.jpg17072560StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-07-27 18:30:462020-07-27 18:52:47How Transparency Can Benefit Your Organization
Did you know that almost 18 million people were unemployed in the USA in June 2020? The ongoing fight against the Coronavirus has led to unpreceded financial losses and a bleak outlook for the future.
If you are a business owner you are no doubt interested in recession survival. What can you do to ensure that your business stays afloat?
Take a few minutes to read our in-depth article to find out what you can do.
Reduce Your Outgoings
When a recession hits, it affects everyone. This means that you can use this as a bargaining tool with creditors.
First, you should call your landlord and negotiate rent terms. If you have been on the premises for some time and have built up a good relationship with the owner, you will have a strong bargaining position.
Landlords will always want to retain good tenants rather than search for new occupants that may or may not be as reliable as you.
This is the first step in your recession survival strategy. If you want to know why a strategy is so important you can learn more from this page.
Collect Owed Money Quickly
Recessions tend to become gradually worse as more and more businesses are affected. This means that you should try to collect any debts as quickly as possible before debtors are unable to repay.
You can offer incentives such as a small discount for fast payment. However, ensure that any larger incentives are not offered to every customer.
Why? Because of your next goal.
Retain Existing Customers
Simply put, retaining customers is easier and cheaper than finding new ones. In fact, customer loyalty can make the difference between survival and sinking during a recession.
If you offer low prices, communicate regularly with existing customers. Emphasize the need for the cost-effective pricing you offer during a recession.
If you do not offer the cheapest prices on the market, emphasize the quality of the product you offer and the need to invest in quality during hard times.
Listen to your customers and offer them the best incentives you can. Do your best to meet their exceptional needs during an exceptional time.
Layoffs: Do it Quickly and Kindly
Laying off employees, especially long-serving employees, is never easy. However, when possible, try to do it early in the recession and while showing compassion and preserving dignity.
Early layoffs that are well planned will reassure the remaining staff that their place is valued and assured. This will prevent unnecessary anxiety and possible staff leaving of their own accord.
Recession Survival and Other Necessary Skills in 2020
Not even world leaders saw the COVID-19 crisis coming. And no one could have predicted the full economic tidal wave that came with it.
However, this does not mean that your business is doomed in the coming recession. By applying these recession survival tips, you can ensure that your business stays afloat and even registers growth.
If you are interested in learning more about business and lifestyle developments, then we are here to help. We gather the latest information and bring it to you via our feed. Take a look today!
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How Effective Communication Skills Can Yield High Results in Leading Fields: Business and Politics
/in Professional Development/by StrategyDrivenRespectively, every field requires a particular skill set to achieve the targets. Hence, in these challenging times, people need to evolve with time and polish their abilities to succeed. It will help if you have an amalgamation of expertise to conquer your goals, but communication skills seem to have taken the focal point in recent times.
Communication means exchanging information, and communication skills are the ability to impart knowledge in ways that are understandable for recipients. Not everyone possesses these qualities, but with training and exposure, one can learn them. Regardless of field one chooses to serve, communication skills are vital for survival. Experts comment that people possessing practical communication skills are more likely to achieve their goals. Communication plays a crucial role in enhancing business practices as it ensures the efficient and seamless running of an enterprise. Whereas in politics also, smooth transmission of messages is essential, and success heavily relies on it.
Advancement in technology has transformed modes of communication and enabled humans to use several mechanisms to transmit information. User-friendly devices have made it convenient to send eloquent messages across. There are different types of communication mediums: written, verbal, visual, and listening. Effective use of dialogue in the technological era means the use of appropriate words. Still, it also means that you are aware of when to use which mode of communication and with whom. A degree in communication equips you with all such knowledge and provides you with opportunities to demonstrate these skills. When communication degree holders step in the corporate field, persuasive communication skills give them an edge over others. The good part is a career in communications is not limited to any one sector, and you can quickly obtain a lucrative job in any industry. For example, currently, politics and business are the two leading fields. Both are experiencing growth and booming at a fast pace. Therefore, a communication degree provides you with multiple career opportunities in different areas.
Below we present a detailed analysis of how communication plays a pivotal role in both the leading fields.
Advantages of Effective Communication in Business Field
An organization runs on several departments and involves numerous aspects to run its operations smoothly. But communication plays a significant role in binding all the business processes together.
Benefits of effective communication in the business arena are far too many, and some of them are as follows:
1.Boosts Productivity
Effective communication is a quality of leaders, and team members of such leaders feel a sense of contentment while working under their leadership. As a head in any department, dynamic communication helps transmit the vision and motivates employees to give a hundred percent. Clear instructions mean that employees know what does the company wants from them, and they take deadlines and instructions seriously, which provides a boost to their productivity.
2. Loyalty
Effective communications build a sense of ownership in the staff, and they start identifying with the company. They develop loyalty towards the organization, and if someone badmouths it, they take it on themselves to defend it. Moreover, they never think of switching companies, even if they come across a better opportunity.
3. Customer Satisfaction
Business often runs on the rule that a customer is always right. Satisfying customers is the topmost priority of enterprises as they want to sustain them. Effective communication is vital for customer service as they have to deal with different temperaments, and satisfying all of them requires persuasive communication.
4. Team Bonding
A team that bonds well deliver better results. Communication assists in developing synergy, which increases team morale. Therefore, team members who step in to share responsibility and workload, yield profound results.
Advantages Of Communication In The Field Of Politics
The field of politics is dominating, as it concerns millions of people. Decisions of politicians have effects on the whole country. Better communication skills are of grave importance in this industry because it can impact a lot of significant decisions.
The following are the top benefits of effective communication in politics:
1. Convincing Power
Political people want to convince people that they possess all the qualities that the community wants to see in their leaders. They require the public to believe in whatever they say so that political people can get votes. Effective communication is a key to win confidence, and it works like magic in convincing others.
2. Enlightens People
Many times, people are not aware of the problems that a nation is facing. But politicians use effective communication to enlighten them about the ongoing issues. They raise awareness about injustice, social and cultural intolerances, and persuade people to make better choices.
3. Dynamic Campaigns
Campaigns are an indispensable part of politics. Effective communication is the base of a powerful drive that generate desirable results. The process of running campaigns require people from different departments, and effective communication is what makes the whole procedure seamless.
4. Ability To Bear Criticism
Criticism and scrutiny are inevitable in politics; however, it takes people with thick skin to bear it with utmost patience. Effective communication allows them to draw a line and create boundaries. It also helps to build excellent stamina to take criticism positively and then use it for their improvement. These criticisms help pinpoint weak areas and give politicians the chance to improve the situation and resolve the general public’s grievances.
Conclusion
Communication is vital for every industry. Similarly, the world’s leading fields, business, and politics cannot thrive without communication. Excellent communication skills guarantee better performance, which in turn yields good results. Hopefully, with the help of a detailed analysis above, you can easily opt for a communication degree and increase the chances of getting a high-paying job.
How To Choose A Niche For Your Writing Business
/in Starting Your Business/by StrategyDrivenMany writers struggle with the process of choosing a niche because they think it’s going to be overwhelming and will also limit them in terms of work, but this couldn’t be further from the truth, and in fact, having a niche to fall back in is only going to bring you more opportunities with better clients, so in this post we’re going to share with you just how to choose a niche for your writing business.
Look at your passions and interests:
If you run a business, then of course you’re doing it because you want to make a difference, but you’re also doing it because you want to work on something every day that you’re truly passionate about, and so this should be the very first step when it comes to picking your niche. For example, are you a passionate traveler and love to share your experiences or just write about travel in general? Then you could start a travel writing business, a blog or just aim to work with clients within the travel industry.
Look at your experience:
Although having passion for what you do is great, it’s often not going to be enough in and of itself, so having a look back over your experience is also a good place to start looking. For example, do you have a background the in the building or construction industry where you could write about things like Telehandlers? You may think this isn’t valuable, but this is the beauty of having a niche – as it gives you the edge over the competition.
Look at your skills and talents:
Even if you don’t have a lot of hands-on experience in a specific industry, you may be especially skilled or talented in a certain area, so instead of going for something industry specific when choosing your niche, you could choose a certain type of writing, such as marketing copy, websites, or even ebooks to niche yourself that way.
Look at what’s profitable:
If you’re running a business – no matter what industry it’s in, you need to be making money in it, otherwise it’s not even a business, so this should be a priority when it comes to choosing your niche. As much as having passion, skills, and experience is a great thing, you also need to be realistic and look for the places in the market where good money can be made, so when picking your niche, you should really be considering all of these things to make sure you can tick at least something off in each area and be able to identify a niche that works overall.
We hope you found this post helpful and that now it won’t feel so crazy overwhelming to go and pick a niche for yourself to run your business with. Picking a niche doesn’t mean you’re going to be stuck with it forever, but it’s something you should definitely identify to start with.
3 Things That Will Make Your Offices Way More Comfortable
/in Managing Your People/by StrategyDrivenDo yourself and your workers a favor by taking measures to improve the environment of your offices. Here are three ways to help you do just that so that everyone will be able to work comfortably.
1. Good Ventilation
No one likes to work in an enclosed space that becomes stuffy and stagnant. If you don’t have high-quality fans and ventilation throughout your offices, then the air is very likely to feel stale and uncomfortable. This doesn’t just apply to the hotter months of the year, either. When the heating is running in your offices during the colder months, then it is just as likely to feel stuffy inside if you aren’t taking the proper measures to circulate the air.
Look for the best heat recovery ventilation system that you can find to help keep the climate of your office comfortable and circulated. Such systems can also help save on energy costs in some scenarios as they can help the air in your offices reach the desired temperature more efficiently.
2. Window Coverings
It is always nice when an office space has plenty of windows that let in natural light. Windows can also make a space feel larger and less cramped. That being said, lots of windows make it difficult to control the climate in an office as they allow the heat from the sun to stream in during the warmer months of the year. The glass of windows can also allow cold to enter during the winter months.
Window coverings can help provide the extra insulation that you need in your offices. This can keep out the extreme temperatures outside so that you and your workers can have more control over the internal temperatures of your workspace.
3. Quality Office Chairs
A day at the office can be made increasingly more uncomfortable without the right chair. In fact, a poorly designed or worn-out office chair can lead to unbearable back and neck pain when sat in for too long. Sitting in the incorrect type of chair all day can also lead to poor circulation throughout your body, among other health risks. The chronic, nagging pain and discomfort from the wrong chair can make it difficult to focus as well.
While good quality office chairs are an investment, they are one that is definitely worth it in the end. By ensuring that you and your employees are sitting comfortably throughout the day, you can help ward off the chronic pain that generally accompanies jobs that see people sitting at desks all day and contribute to an overall more comfortable working environment.
How Transparency Can Benefit Your Organization
/in Business Communications/by StrategyDrivenRelationships With Investors
If you’re building a relationship with a possible investor, increasing the trust level can be facilitated with the wise use of transparency. There’s a good bit of competition for funding, and investors want to recoup their money as soon as possible. It may be daunting to decide how you want to present your brand story; the assistance of professionals such as PR firms in Portland Oregon can get you started in the right direction. Judicious transparency indicates that you’ll be honest and thorough with your business plan and consistently keep investors in the loop.
Community Trust
In this case, your “community” is everyone you come into contact with — it’s not only a geographical designation. Transparency is all about awareness of the social norms of your customers and stakeholders while having sincere communication content and style. While it’s important to have a reputation for honesty and integrity as sort of a baseline, portraying an image of absolute perfection is unsustainable, unrealistic, and may backfire. Keep it real by being straightforward about the bumps along the way, and describing how you’re overcoming them.
Employee Morale
As you build your organization, transparency with employees is a valuable investment, especially in the early stages. Higher productivity, more confidence and creativity, and less turnover are associated with greater transparency. You’ll also build your word-of-mouth reputation in the professional community.
Customer Relations
Customer confidence starts from a foundation of trust, and transparency helps build it — particularly if you’re a human service provider. Firms like a healthcare PR company Portland can help you craft your message so it resonates with customers. Your organization gains credibility if customers see moments of vulnerability within a framework of integrity and commitment.
Depending on your type of organization, there are many ways to be transparent and professional. Take a look at similar businesses and see how they’re effectively weaving transparency into their stories, and mine your own experiences to craft a compelling message.
Recession Survival Tips: How Your Business Can Come Out Stronger
/in Managing Your Finances/by StrategyDrivenIf you are a business owner you are no doubt interested in recession survival. What can you do to ensure that your business stays afloat?
Take a few minutes to read our in-depth article to find out what you can do.
Reduce Your Outgoings
When a recession hits, it affects everyone. This means that you can use this as a bargaining tool with creditors.
First, you should call your landlord and negotiate rent terms. If you have been on the premises for some time and have built up a good relationship with the owner, you will have a strong bargaining position.
Landlords will always want to retain good tenants rather than search for new occupants that may or may not be as reliable as you.
This is the first step in your recession survival strategy. If you want to know why a strategy is so important you can learn more from this page.
Collect Owed Money Quickly
Recessions tend to become gradually worse as more and more businesses are affected. This means that you should try to collect any debts as quickly as possible before debtors are unable to repay.
You can offer incentives such as a small discount for fast payment. However, ensure that any larger incentives are not offered to every customer.
Why? Because of your next goal.
Retain Existing Customers
Simply put, retaining customers is easier and cheaper than finding new ones. In fact, customer loyalty can make the difference between survival and sinking during a recession.
If you offer low prices, communicate regularly with existing customers. Emphasize the need for the cost-effective pricing you offer during a recession.
If you do not offer the cheapest prices on the market, emphasize the quality of the product you offer and the need to invest in quality during hard times.
Listen to your customers and offer them the best incentives you can. Do your best to meet their exceptional needs during an exceptional time.
Layoffs: Do it Quickly and Kindly
Laying off employees, especially long-serving employees, is never easy. However, when possible, try to do it early in the recession and while showing compassion and preserving dignity.
Early layoffs that are well planned will reassure the remaining staff that their place is valued and assured. This will prevent unnecessary anxiety and possible staff leaving of their own accord.
Recession Survival and Other Necessary Skills in 2020
Not even world leaders saw the COVID-19 crisis coming. And no one could have predicted the full economic tidal wave that came with it.
However, this does not mean that your business is doomed in the coming recession. By applying these recession survival tips, you can ensure that your business stays afloat and even registers growth.
If you are interested in learning more about business and lifestyle developments, then we are here to help. We gather the latest information and bring it to you via our feed. Take a look today!