4 Aug 2020, 13:00 — 5 min read
The ever-changing landscape of business just got more complicated with the global pandemic. As governments around the world struggle to find solutions to curb the spread of the disease, businesses have also been struggling to find solutions on how to operate in the new normal.
Larger companies with business continuity plans and cloud-based technologies in place have a relatively easier time adjusting; however, many other companies still have a long way to go in transforming the way they do business into one that is ready for the future.
Despite the many challenges that our current situation presents, the pandemic has also become an opportunity for entrepreneurs, especially microentrepreneurs, to thrive.
With jobs no longer as stable as they once were, people are resorting to other methods of earning income. Some are now turning their family recipes into dishes that can be enjoyed by the whole community and selling much-needed commodities such as groceries, cleaning items, and personal care items from their homes.
Also read: COVID-19: A change of direction for MSMEs
The larger business community can support these budding entrepreneurs in many ways. There are some who have developed or are developing various online platforms for selling these home-based goods. Others are offering webinars to help entrepreneurs learn more about business and develop their skills.
Reselling can help your business reach markets and communities that would otherwise be costly to penetrate.
The way in which we at MyNatural want to encourage businesses and entrepreneurs to grow is by being open to reselling. Though reselling has already been a common practice before the pandemic, it now seems timely to take a second look at it and reconsider how this might be beneficial to your business in the new normal. Here are some benefits of reselling:
Reselling gives entrepreneurs the chance to earn by selling legitimate, high-quality products that they otherwise could not produce on their own. The foundation has been established by the business, and it is the reseller’s task to make it grow. This helps resellers have a sense of ownership of their business and drive them to do their best.
Reselling can help your business reach markets and communities that would otherwise be costly to penetrate. It also helps your products be more readily available to customers.
Resellers tend to purchase in bulk so as to have stocks readily available for customers.
These larger purchases help the business get their inventory moving faster.
Resellers with online stores post about your products and customer feedback. This allows your products to be more visible and reputable online. Word-of-mouth also spreads quickly in the smaller communities in which resellers operate.
Also read: Digital strategies to help your business admist the COVID-19 crisis
Reselling is greatly beneficial to micropreneurs and businesses, which we at MyNatural can attest to. We’ve heard success stories, great customer feedback, and we’ve seen the improvement in our own business metrics with reselling. For us, it helped create valuable relationships and connections with our partner resellers, and gave our business an even greater drive to succeed.
In addition to helping seaweed farmers who produce the active ingredient in our products, we are also able to support micropreneurs in this difficult time. It works for us-- maybe it will work for you too.
MyNatural produces high quality personal care products and home care products which are naturally-derived, healthy, and safe. More than a brand, it is a movement for a healthy lifestyle using products that are free from harmful chemicals and ingredients, and which care for the environment and sustain local farming communities. It carries the first personal care brand in the Philippines that contains fresh seaweeds extracts, which are scientifically proven to have great skincare benefits. These seaweeds are produced locally by farmers in various parts of the Philippines.
Image source: Freepik
To explore business opportunities, link with me by clicking on the 'Invite' button on my eBiz Card.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.
Most read this week
SME Inspirations 7 Jan 2021
SME Inspirations 22 Sep 2020