Today, entrepreneurs all over the world face problems and obstacles in order for their business, for which they have shed blood, sweat and tears, to survive. At a time when entrepreneurs are fighting for their own survival, they are also fighting for the survival of their employees. These kind of times may be good for innovation or good ideas.
In today’s uncertain and strange times, many of you often ask yourselves whether it is possible to do business successfully in times of crisis and recession. The answer is: YES!
And in such conditions there are many unexpected opportunities for entrepreneurs and their innovations. Of course, you need to take off your rose-colored glasses and realize that not every business will be successful in uncertain times and circumstances, but it may not be successful even in good times.
Uncertain times are times for innovation and good ideas.
4 Reasons why the crisis is a good time to start a business
There are many reasons why times of crisis and recession can be a good time for new beginnings.
1. the problems that arise are looking for solutions
Problems under the new conditions need solutions. The most flexible and agile are small companies. They can react in the shortest possible time and fill the gaps created in the market with their products and services.
2. it is easier to find good workers
Changes have also occurred in the labor and training market. In times of crisis, it is easier to find skilled workers who have lost their jobs. This is bad news for the professionals, but it is good news for you, because under normal conditions you would not be able to find quality professionals so easily.
3. possibility of lending and low interest rates
In uncertain times, there is also the possibility of lending, and interest rates are at a low level.
4. it is possible to buy part or all of someone else’s business
In times of crisis, competition in the market is distorted. Companies have either failed or are recovering from losses.
Importance of employees
This is the right time to fill the market gaps with your innovative products and services. If you have capital, you can invest in buying assets sold by entrepreneurs who have fallen into crisis, or you can take over all or part of the competitor’s business.
And what happens in the first five years after starting a business? Did you know that 63 percent of small businesses fail in the first five years?
Are you investing in the training and knowledge of your employees, your sales staff?
It may sound contradictory, but this is an ideal time to think about investing in people. Every person is important, especially a good worker. Without investing in people, there is no growth in business.
Are you aware of the importance of people, sales people in the sales process?
Most retail companies invest a lot of money in decorating the store and in good marketing and believe that this is enough to attract people to the sales floor, forgetting the most important thing, their employees.
Most of the time, the only training that retailers go through is the introduction to the job when they are hired. This involves teaching how the cash register works, information about payment terms and payment options via POS equipment, checking out shelves that need to be regularly stocked with goods and prices.
Cashier, shelf stocker, or corporate mirror
With minimal or no training, people are thrown into the fire, expected to take care of themselves and meet the growing demands of customers, standards and employer expectations.
For customers, the salesperson is a mirror of the company, because he represents the company, he communicates with customers, presents products, and based on this relationship, the customer forms an image of the company and its values.
Customers have become more demanding in their expectations, they have much more choice where to store, competition is high and the market is saturated with different products and services.
The role of the salesperson is not just to pay for the goods and fill the shelves. The role of the salesperson is much more comprehensive. It starts with informing the customer, identifying their needs and wants, presenting products, helping the customer make a purchase decision, and making sure they present themselves and their employer in a quality and professional manner.
Selling depends more than ever on the competence, knowledge and professionalism of the salesperson
Sales organizations should place great emphasis on salespeople having proper training in products and services, as well as strong communication and selling skills, so that they can identify customers’ needs and wants and provide them with the best product or service.
The criterion by which the buyer decides where to spend his money and in whom to place his trust depends increasingly on the training and approach of the seller. People buy from sellers they like, whom they consider friends and whom they trust.
Customers will always be happy to buy from such salespeople and return to that outlet. We all have our aunt in the shop where we feel welcome and where we like to shop, an aunt who is always friendly and courteous, where we come back and where we buy.
These are salespeople who have sold themselves by selling products or services. These are the salespeople with whom we have formed a bond. Because people buy from people. People do not feel tied to a company, they do not feel tied to products, they feel tied to people.
The culmination of a sales strategy is when the salesperson sells themselves by selling a product or service. Such salespeople are not born. Good salespeople are created. Through work and study.
Therefore, investing in salespeople is not a cost, but an investment that will drive sales in the long run, impacting revenue growth and company profitability. Also important is to keep track of your finances so you can make better decisions and that means you need a reliable service that Invoice Crowd provides.