When Metro Manila was placed under lockdown to contain the novel coronavirus, Mark So’s training and events business, Businessmaker Academy, was extremely hit.
With social distancing being strictly implemented, they can no longer organize live seminars which left them with zero sales.
If you’re undergoing the same situation, know that you are not alone.
In the first episode of #MovePreneur, RFC’s initiative to help businesses move forward to the ‘new normal’ in partnership with Businessmaker Academy, Mark So shared his best practices in managing his business during the crisis.
“No matter how difficult our situation is now, we will survive this,” he assures all entrepreneurs.
So emphasized the importance of taking care of your employees during these challenging times.
“Businessmaker is already running for 17 years. We’ve had our own shares of success and failures. There are time when we don’t even know if we will survive. But in all circumstances, whether good or bad times, it has always been (for) my people.”
He explains that when you take care of your people well, they will in return take care of your business as well.
As we are facing the biggest crisis that disrupted the global economy, one of the best practices to manage your business during difficult times is to protect your people – your employees. When they survive, your business will definitely survive. Remember, you cannot do it alone. Without your people, admit it or not, you cannot run your business effectively.
Aside from protecting your people, here are some ways to help your business survive the crisis.
Cash flow is the lifeblood of your business. Stretch the cash as long as you can to provide salaries, allowance or loan for your people.
Communicate with them about your plan and the current situation of your business so there would be transparency. Don’t be afraid to tell them the reality. They may share some strategies on how your team can survive this together.
RFC provides working capital loans to help you jumpstart your business especially these trying times. You can apply here.
Your people are also having a hard time during the pandemic. Try to spread positivity in this negative time. Let them know that they are not alone. Remember, hope starts with you. As a leader, you have an important role to encourage your people during these difficult times.
This crisis shall come to pass. As one community, let’s believe that we will all prevail together.
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