Entrepreneur in distress? The current business state of affairs is driving well established Entrepreneurs, especially the young ones to pack up their bags and disappear forever. Moreover, global inflation has carried an atmosphere that suggests the current circumstances are beyond control.
Every business crisis comes as a test for entrepreneur’s resilience. Establishing that no calamity will last forever, the entrepreneur must constantly develop surviving mechanisms to keep the ball rolling. In this situation, we need to understand that hesitations are no questions at our end. The time has come to remove all the question marks and exclamation marks to earn self-trust.
Thus, in today’s era of digital advancement, virtual offices are best options not only to offer connectivity for the business but also are light on cost sheet to ensure smooth running of day to day affairs.

Likewise, the conventional school of thought for business growth has shifted over time. Business survival resides in synergies. It is important to establish professional bonding with the ventures around to ensure excellent performance and delivery. The idea is to have multiple teams on board belonging to different sectors and combining them to create cost effective solutions. It is encouraged to hold the hand of the weak and try to create a circle. This will help you to float for a longer period of time.
However, keeping the float in mind that the water is getting deeper and the survival is getting better for long stamina swimmers and for those who yet not considered swimming are still standing at shallow thinking the consequence of not putting foot in the water. This calls for ethical conduct by the Entrepreneurs.
Fact remains that organizations are with people, and that values like trust, loyalty are priceless. One such example is of Malden Mills, whose CEO Aaron Feuerstein decided to continue paying wages to his unemployed workers summing up to $25 million even after the tragic fire, to compensate for the time period of its rebuild. The workforce paid him off after the rebuild of the company by breaking charts with the percentage increase in production.

Presenting you gems of wisdom in a nut shell:

1. Do not sell your business you have started with a passion it. Instead, keep it because this pandemic situation will eventually disappear.
2.  It is a proven fact that virtual office is a big cost saving.
3. Do not waste your money on firing and then re-hiring. Send those resources on a long leave and give survival money instead terminating their services indefinitely