Learning from Our Webinars
COEXPORT has initiated a new strategy to maintain close contact with partners and customers in these times of quarantine due to the COVID Pandemic.
Since April 1st, every week, we have been teaching interesting topics, ranging from legal aspects to useful tools for work during quarantine.
We are convinced that #StayingAtHome is necessary and important, but this should be a time we spend growing as individuals and companies. While we should all follow the #SocialDistancing, this does not mean that with all the technology available, we should stop being more connected than ever.
For now the biggest concern we have is what is going to happen to our company. Surveys show that the vast majority of companies have little hope of surviving a quarantine longer than a month. No one was prepared to close, let alone all at once. No one has any idea how long this time will last without being able to operate as before. Everything is so uncertain and the only thing that is certain is that standing idly by and waiting will not help. It applies to say, do not worry, but take care of it. But then what can be done?
Alfonso Riera from Front Consulting Group, on the Webinar Business Tips for PYMESadvises that the first step for any company is to measure the impact. That is, to be able to express in numbers how much downtime costs. It is easier to face the damage if we know it.
Another important aspect mentioned by Riera, of Venezuelan origin and expert of the Franchise Program promoted by COEXPORT, is that we are in a moment of collaboration and building alliances. The more we support each other, the easier it will be for us to move forward. The most important allies are suppliers and customers. We will need them just to get out of this quarantine. Keeping in touch with our customers and suppliers is important, to ensure that they will be there when we need them. It is time to harvest loyalty. If we keep in touch with our customers, we may not be generating revenue, but we will be generating loyalty for future projects. "I can't sell to you now, but I am close to you" should be the message.
On the other hand, Carlos Díaz del Pinal, a consultant in financial matters, is of the opinion that the important thing is to keep our company alive. For that it is important to take its pulse permanently. How is the pulse of the company taken? The pulse of the company is its cash flow. The company dies when it has no cash. Cash in a company is like oxygen for a human being. Del Pinal advises that companies should think of a survival strategy and should look for where they have their cash. An example of this is the company that cannot operate in quarantine, but has a transportation fleet for distribution. What if it seeks to rent that equipment to other companies that are offering home delivery service and do not have that resource? There you would have a source of cash.
He also recommends looking for sources of financing, thinking about Factoring, Leasing could be an option, instead of having the company's resources invested.
This time of quarantine should be a "pause", not to wait for the worst, but to prepare. That is the great challenge. This is the time to transform yourself and your company. It demands to watch out for opportunities, to get rid of taboos, to learn what is new, to use technology, to be very creative and to innovate. It is not a way out of the current crisis, or to survive the quarantine, but more than that, to prepare your company for the new reality of a post Covid World.