BUSINESSES will not survive the COVID-19 crisis if they don’t change the way they operate.
Brisbane sales/ performance strategist Andrew Cominos said even though small businesses could access the new Australian Government bailout schemes due to COVID-19, he said these would not save businesses unless they changed their business model to fit with our current climate.
“During these uncertain times, you need to plan, diversify, create the right offer, change the way and how you do things,” Mr Cominos said.
“Having been in contact with over 1000 businesses in the past month, many are panicking, freaking out (which is making them incapable of solving problems) and have bad focus.
“They are focusing on losing clients/ cutting costs. You can cut as many costs as you like, if you don’t have money coming in, it won’t save you.
“Everyone is so worried that their clients are going to run away that their clients are running away.”
Known as The Sales Superhero, Mr Cominos suggested to ask your customers what’s happening to them, look at creating more leads and diversify how you’re doing things.
A study by Bizfluent showed that 50% of businesses globally failed in their first year and 90-95% by year 5. Research by Bloomberg showed that eight out of 10 entrepreneurs who started businesses failed in the first 18 months.
“These statistics will increase if people don’t shift, change and grow. If no one changes with the times, everyone will fail,” he said.
“This could be a positive time for business owners depending on how they play the game. Just because we have a problem doesn’t mean there aren’t customers out there. You just have to find them. To find them, you have to change what you’re doing.”
He said product-based businesses would now need to begin doing deliveries of their products if they didn’t before and absorb the cost of delivery to make it easier for their clients.
“Get yourself more out online, utilise social media, market to friends and family who are willing to support,” he said.
“With service-based businesses, utilise social media community outreach, have virtual coffees, create conversations and connections. Don’t just sell. People buy from people they like and trust.”
Mr Cominos also suggests people lighten up and has created the #promotehappiness movement to inspire love, happiness, positivity and fun in the community.
“My mission is to spread joy and happiness to the world by empowering small businesses and people to succeed and live extraordinary lives,” he said.
You can help lift people’s spirits in the community by doing a positive social media post and use the hashtag #promotehappiness.
“If we had more happiness in the world, we’d be kinder, there would be a lot less depression, anxiety and violence,” he said.
“People would be more loving and there would be less corruption. The world would shift, grow and move towards a brighter future.”
Mr Cominos is hosting The 10th Successful Entrepreneur - An Evening With… Brisbane voice coach Elisa James, now online due to the COVID-19 lockdown on April 21. To join is free. For the link, go to Andrew Cominos- Surge Solutions page on Facebook.
To contact Andrew, visit www.surgesolutions.com.au