How to keep your business profitable during the COVID-19?
A lot of businesses were negatively impacted because of the coronavirus. However, some business owners were creative enough and could make a profit even at this challenging time. Today we are going to tell you the possible strategy to cope with a pandemic. Moreover, we will discuss a real company example that is staying profitable even during this challenging time.
Going Online
McKinsey & Company said, ‘The battle against COVID-19 is one that leaders today must win if we are to find an economically and socially viable path to the next normal’. We offer you not to wait until this battle is won by the leader, but instead won it by yourself and eventually becomes a leader.
Due to the self-isolation policy worldwide, the online world receives priority compared to the physical one. This is why moving a business online today is a necessity if the manager wants a company to continue to operate.
We believe that is a force for better because going online benefits businesses in various ways. Here is a list of what will be improved if you move your business online:
- Increase sales
- Improve external communication
- Improve companies’ image
- Higher employee’s productivity
- Speed up processing
- Enhance and efficient service
- Attract new customers
Generally speaking, a business will improve its competitive position.
Majectic Meat Case
However, going online does not mean creating the website; it’s a more complicated process that involves an online ordering system, social media, etc. Let us tell you a story about Majectic Meat Co.
Being a meat supplier to Utah’s local restaurants, the company lost most clients as the restaurants got closed one by one. Moreover, they had a lot of product surplus that was going to spoil very soon. It means not only no profit but also huge losses. The company’s management was limited in time to come up with a decision. So, they did what has never been done in the company before. Majectic Meat Co started selling meat directly to the community by adding an online ordering system to their website. As a community was happy to show support to a local business, this single move saved the company.
Mike Marsh firstly told this story. We found this case a perfect example for all small business owners who are unable to sell their products because of the shut-down policy. However, to embed an online ordering system, Majectic Meat Co asked a local IT expert. Furthermore, we can bet that in the foreseeable future, they will ask the expert for another favor or even hire him because this kind of system requires permanent support.
Good news, we want to become that expert for you! With Catalog Machine, you can update all the product base at once, integrate an online ordering system into an existing website, or use it separately, create tiered pricing, and a lot more!
Check the video to start receiving orders online and selling directly from home in this video.
