Many are asking themselves what the right moves are to keep their business steady. We tapped into our mentor network for some advice for businesses amid the COVID-19 pandemic.
Below are some insights from two of our active mentors, Leslie McKinney (Director, BWISE Chicago) & Eli Share (New Product Development Manager, Masonite), for some advice on what businesses should be doing during this time and what missteps they've seen them take.
If you could give one piece of general advice to businesses during this time, what would it be?
Eli: "This is the opportune time to focus on value drivers within your organization; it should be something that you always do, but this is the perfect time to focus in on where value is being created. These stressful situations really highlight where your company needs to go."
Leslie: "This is a great time to engage with customers that you already have, because they already have a relationship with you and they are probably going to buy from you again. This is also a great time to create product - or at least be thinking about designs and concepts that you can create because of the pandemic. You can also be creating content to engage with customers that are looking for you."
What is the biggest misstep that you see companies taking during this time?
Leslie: "Thinking that this is a time to rest and relax. Do something and engage. "
Eli: "The biggest misstep is not having a focus. It is really easy to get pulled in multiple directions, you get distracted by things you could be doing rather than the things you should be doing right then and now. The spreading thin too early can really hurt the acceleration of your business."