For start-ups, it is necessary not only to fully understand the economic damage caused by the epidemic, but also to formulate specific measures for enterprises to cope with and overcome difficulties during the epidemic according to their own conditions, so as to increase their grasp of overcoming difficulties when the environment deteriorates. According to my experience in running a business, I summarize the specific ideas as follows:
1. Affected by the COVID-19 epidemic, the living environment of enterprises has changed greatly. First of all, start-ups should focus on the analysis of the impact of environmental changes on their industries and the size of the impact. And make a reasonable analysis of the demand of the industry in the next one to two years, adjust the development plan according to the analysis results, discuss the situation, and prepare countermeasures in advance.
2. Analyze the position of enterprises in the industry and whether the epidemic situation has changed the competitive landscape. Analyze the advantages and disadvantages of internal competition in the industry, and deeply analyze the dangers and opportunities. Do a good job in dealing with dangers in advance and look for opportunities in the crisis. In the context of economic downturn, it is forbidden to take risks, and decision-making must be based on security.
3. Ensure the cash flow during the epidemic. During the epidemic, it is necessary to ensure good cash flow. While actively recovering accounts receivable, we should cut unnecessary expenses and reduce various expenses. And fully enjoy tax reduction policies such as government loans. Have enough cash to deal with special circumstances. As long as the cash flow is good, the survival of start-ups in special period can be guaranteed.
4. Adequate internal communication. During this period, it is necessary to strengthen the communication among employees within the enterprise, and the coping strategies of the enterprise in a special period must be fully involved. Only when the team unifies its thoughts and condenses its strength can we overcome difficulties and tide over difficulties through team strength.