5 entrepreneurs share valuable lessons learned from COVID-19 pandemic

5 entrepreneurs share valuable lessons learned from COVID-19 pandemic

Entrepreneurship

GlobalLinker Staff

GlobalLinker Staff

9 Jul 2020, 13:00 — 4 min read

Business owners are facing unprecedented set of challenges due to COVID-19 pandemic. While some are struggling, some entrepreneurs are using this season to thrive and find opportunities for their business.


We reached out to some of the members of UnionBank GlobalLinker with a question: What are the lessons you have learned so far from the COVID-19 pandemic?


Finding a silver lining amidst the crisis, here’s what they told us on how they are navigating the new normal:

 

Being resilient amid the crisis

“A business who has resiliency in their DNA will survive and flourish during this very challenging economic landscape we are in right now because of COVID-19. And those who can make the pivot in terms of processess,  ways of working, and more importantly, mindset on how products and services are being delivered from conception to consumption will definitely have the edge in succeeding moving forward.”
Jehammed Michael Jacobe, Founder and President, Writerspod Transcription

 

“To be honest, I was on the verge of giving up. We are selling non-essential items so our business was greatly affected by the pandemic. But what made us continue is the resiliency of our Persons with Disabilities community. The business was born out of the idea to empower Persons with Disabilities. In the middle of the crisis, our community did not show any sign of quitting. Instead, they provided several solutions to adapt to the new normal. From selling slippers, we were able to pivot and now offering gardening pots which have an increasing and growing demand at this time. What I learned is to never waver and to never be afraid of pivoting your business.”
Paul Andrei Medina, Co-founder, Green Rubber Footwear

 
Also read: 5 ways to make your business storm resistant

Taking a long-term view

“To have an advanced risk analysis and mitigation strategies, which include remote work, automation, technological solutions, reduction of expenses while preserving value; and most importantly, to have a collaborative communication with the government, stakeholders, and colleagues in the industry.”
Jimeff Bernardo, Co-founder, Berban Travel and Tours

 

Adapating to the current demand

“One of the few things I’ve learned from this pandmeic, together with my husband, is the courage to adapt. Since we couldn’t offer cleaning and handyman services, we had to shift to doing grocery errands, selling whole dressed chicken, and even started an online grocery. At the end of the day, we needed to survive and with God’s grace we did.”
Marie Kristiansen Gallanosa, President, Mr. Butler Home Services

 

Having a financial back up

“If there’s anything this pandemic has taught me, it is that we should be prepared at all times. A readied financial backup even for at least 3-4 months would have been a great help to keep the business afloat and to not struggle from too much loss. COVID-19 may have brought us to our knees, but I also learned to adapt quickly to the change. We’ve added essential products such as face shields and face masks which are crucial needs during this time of crisis. We also keep our social media active and embark on new online platforms to get wider audience and increase customer reach.”
Crispina Singh, Owner, Crissander Enterprises


Also read: 6 financing options to help your business stay afloat during and after crisis

Image source: Freepik

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