Business Mentor: How has COVID19 affected your business?

Armando Bartolome

Posted at Jun 13 2020 10:11 AM

Business Mentor: How has COVID19 affected your business? 1
Salons and hairdressers are some of the small businesses affected by the COVID-19 pandemic. Picture taken in Mandaluyong City on April 29, 2020. Jonathan Cellona, ABS-CBN News

Everyone has been affected by the COVID-19 pandemic. Besides the threat to health, the outbreak has also affected the economy. 
A lot of entrepreneurs, especially those who just started with their business, probably felt that it was the end of everything. 

I have asked some entrepreneurs how they are coping while the whole country adjusts to quarantine life. Most of them replied that the pandemic hit them hard both financially and emotionally. My heart is with them because I have also experienced the same. 

But one of the great characteristics of an entrepreneur is resilience - accepting challenges as they come. 

The kind of assistance that the government has promised may not be sufficient, the funds may not be enough to cover everyone’s necessities. With that said, should we just wait for the problem to go away? Of course not.

Amid the restrictions imposed during the community quarantine, there are those who tweaked their business. Restaurants offered food pick-up as well as delivery services so we still got to enjoy our favorite dishes in the comfort of our own homes. For these entrepreneurs, stopping the business was never an option, but was an opportunity to continue to serve to the public.

We need to find ways on how to remain financially afloat during these times. Not all businesses have a business continuity plan, thus some establishments have completely closed up during the quarantine period.

The COVID-19 outbreak has taught us a lot about how we should live our lives and prepare.

For business owners, it has shown that while our business plan seems perfect, there are unavoidable situations that may affect our business processes. Thus, creating a business continuity plan is essential. Entrepreneurs should find alternative ways of getting their products and services to the public. Employees’ welfare should always be considered. It is the responsibility of business owners to provide assistance especially in times such as the pandemic.

For individuals, it has shown the need to have other streams of income. It has also shown that health is wealth. Ensuring the safety of ourselves and the family is of utmost importance. As COVID-19 may be around for a few more months, learning to be more health-conscious has become part of the new normal.

The pandemic has also brought families closer together. It has enlightened all of us that we also need to stop and be with our loved ones and not to be always busy with work.

Some businesses have adapted to the quarantine through online selling, delivery, and take out of food. This has brought security to business owners, and allowed ordinary people to purchase without having to sacrifice their safety.

There is a need to rebuild what has been destroyed due to the pandemic. Although there is no assurance on exactly when this will end, everyone will be thinking of more ways to adapt to the “new normal”.

My advice to everyone is to not be afraid. Empower yourselves with the right knowledge so that you can think better and act better. If we all go into a panic, nothing is resolved. Not everything is within our control, indeed. We need to keep calm and see the bigger picture.

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For more information, you may contact Armando "Butz" Bartolome 
by email: business.mentor@butzbartolome.com
FB Page: Butz Bartolome
website: https://www.butzbartolome.com