At times like this, we now live – coronavirus – that we stop to rethink everything, including the correct way to manage our companies or team. In fact, we live in a unique moment in world history, when COVID-19 is causing a drastic change in the way people and companies deal with their routines. This whole movement calls for attention so that leaders do not make common mistakes in crisis management.
The market is increasingly competitive and volatile. Simultaneously, competitiveness increases progressively and pressure and responsibility on entrepreneurs, multiplying the possibilities of management errors.
Now, more than ever, efforts must be made to avoid management errors that can be fatal to the business. This article talks about five common management mistakes in crisis times and how you can somehow avoid them, ensuring profitable results and healthy processes for your company.
1. Not considering the effects of the economy on customers
It is important to remember that customers are also suffering from the crisis. We are experiencing a global pandemic, with restrictions and an impact on the local economy. It is important to bear in mind that your customers are also suffering from the crisis and need your help. Everyone will lose, but we can reduce the gravity of the situation if each does his part for the other’s benefit.
2. Sacrifice quality
Try to reduce production costs by sacrificing the quality of products and services. A decrease in quality may even help sell now, but it will damage the brand image in the market at a time of recovery.
3. Don’t invest in marketing
Marketing is strategic for any company, especially with the intense competition of the current market. Unfortunately, companies still see it in a simplistic way, or just as endomarketing.
Many business people think that marketing is only for selling products and that it is enough to invest in the distribution of flyers, in commercials, or in sending emails. However, its function is much broader. Today, with social networks, digital marketing, and inbound marketing, which is the marketing that attracts and converts customers through relevant content, the marketing area increasingly represents a strategic sales sector within companies.
4. Don’t take chances
Although it is normal to be cautious in decisions, it is necessary to go beyond the basics, reinvent yourself, leave the box entirely, and look for different alternatives, bringing better results to the new scenario.
5. Pointing out culprits
Pointing out culprits, underestimating each employee’s value, or demanding more than each person’s ability does not magically make solutions appear.
Count on Webfarus for help in this time of crisis
Raising its presence to the digital format by creating a website or an online store; projecting your business to other markets, or; valuing your brand, Webfarus will assist your company at a time when the opinion that those who are not in the digital market will soon be out of the market! Contact us!