Coronavirus Lockdown a business survival guide in Cyprus?

Coronavirus Lockdown and business survival

18th April 2020 gecko

Coronavirus Lockdown Business Survival Guide in Cyprus? – and how to work remotely and effectively

While the Coronavirus has the Cyprus Government doing all that it can to support people and businesses – this unparalleled health crisis will soon become an unequalled economic crisis.

You may have already read that many institutions are predicting Cyprus to be one of the hardest-hit European countries.

Owing to its reliance on tourism and other services, and a future debt crisis looming. Things are unlikely to get better for quite some time. Many businesses will not easily be able to turn to other revenue streams to survive. The impact on their business, therefore, is likely to be grave. We will all need to find new ways to endure in what will be a vastly different world over the next year or two. The need to maintain social distancing and remaining healthy at all times is never going to go away.

Coronavirus Lockdown Business Survival Guide in Cyprus

Those businesses that can adapt during the Coronavirus also have limited options. Facebook, for example, while offering around $100M in grants and advertising credits, does not include Cyprus in the offer. Bugger!

As things stand, it seems that the best help Cypriot companies are going to receive is that which they create for themselves. We need a Coronavirus content hub or coronavirus ‘connections’ forum. An online meeting place whereby like-minded, forward-thinking businesses work together. Clearly, our tourist market will be severely weakened in 2020 – and assuming we can struggle through, what is 2021 going to look like?

We have some very big brains in Cyprus – clever people who can easily adapt to change. So we need to get them involved.

There is value in keeping clients informed about your activities via email; but what can you say? And how do you ensure that your information is seen above all the competing noise?

Some businesses will not need to look that far hopefully. A company that provides training courses, for example, could move their teaching online using webinars and meeting software such as ‘Zoom’.

I was talking to a friend who owns a gym in Limassol. His regular routine would be to organise training classes in-person to groups of people at the gym several times per week. He had the foresight to move those classes online. He has become a virtual personal trainer. Granted, that kind of adaptation can only work for specific businesses.

Now that we are over the shock and are coming to terms with living with Coronavirus – it might be the time to re-assess if you too can adapt.

Coronavirus Action Plan in Cyprus - how do we fight back?

The first place to start is with government coronavirus assistance programmes. The financial support packages are undoubtedly going to help a great many – but beyond that; re-training support packages could also be useful. And that may well be where next the Government focusses attention.

Their pockets are only so deep. And we cannot become a vassal to the state.

Businesses might be able to start making new products or collaborating with other companies to support better joint-products and services. And now is the time to do it right? If you are locked down, why not start developing those partnerships.

So where do you start?

First things first; despite coronavirus people will still need to know that you are open for business. Your loyal clientele needs to hear from you – and that you can always add value to their lives. They will want to know more about your new products and services – so you’re duty-bound to keep them informed.

Perhaps you could digitise your training manuals, or hold paid-for webinars through which people can learn new skills. Or create a “how-to eBook” that describes how to maintain a process or a product that people have ordered online from you. Offering excellent value now, and thinking about sales later may well be necessary too. Whereby a service you have always charged for becomes free for a limited period.

Look back through your website to ensure it is still fit-for-purpose. Have you done little about the quality of its content because you have always been busy running your business? Now is the time to re-purpose or update content so that existing and future customers can quickly find solutions.

We are open to exploring an online group of business leaders and entrepreneurs who can all help each other succeed in these difficult coronavirus times.

What do you say?

Lastly, get in touch to see if gecko design can help with digitizing your business during this coronavirus pandemic. After all, we’re all in the same boat!

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