Globally, we’re at a very unique season where no one had foreseen the pandemic or even when it will strike. In Kenya, so many challenges have been experienced affecting families, businesses both SMEs, medium, and large organizations who have felt the pinch by all means. It’s vital for the mentioned groups to make tough decisions yet remaining humane in the changes made.
Here are some of the pointers that can help during this period:
- Outsourcing some functions
Companies can outsource their functions that are not their core business for example human resources which will in turn lower their operating costs. E-commerce also becomes a unit that should be considered.
Also, for hospitality industries, instead of staff staying indoors, they can be sent to the field to look for clients with a well-laid plan to get more sales.
- Managing finances
Working from home has been the better option during this season which has seen a reduction in the cost of rentals be it houses or premises. Also, office spaces if owned by organizations can be turned into conferencing rooms, therefore, saving on the cash used to host guests or potential clients in hotels or restaurants.
- Growing in business
Having a good relationship with suppliers will come a long way as one can request for credit extension to a reasonable agreeable period. Also, making orders in bulk will save one’s time and money.
Re-assessing the existence of the business by asking key questions will help one make strategic decisions and thereafter adding value to the business.
