Tech Entrepreneur’s Strategy to Help Businesses Survive in Pandemic
The Covid19 pandemic has negatively impacted on economies and businesses remained closed. With lock downs in place combined with an overwhelmed healthcare infrastructure, some countries even entered a recession.
According to Yelp, 132,580 businesses remained closed as of early July. On top of that, 15,742 businesses listed on the review site permanently closed just from June 15 to July 10.
But is it the end for most businesses? For Canadian tech entrepreneur and software engineer Michael Peres, (Tech Entrepreneur’s Strategy in Pandemic) there is a silver lining to this situation.
Who is Mickey Peres?
Montreal born Michael Peres currently operates out of Seattle, Washington. He is currently pursuing different projects that not only survived but even thrived during the pandemic.
Peres was diagnosed with Attention Deficit Hyperactivity Disorder (ADHD) as a child. Despite the condition considered a disability, he was able to come up with unorthodox methods that have molded his current lifestyle and contributed significantly to his current success.
In college, Peres was able to finish two degrees. Computer Science and Mathematics, things that came in handy on his future ventures.
Peres operates a web design and web hosting company, Hexa Tiger Web Design and Hecto Fox Hosting, respectively. According to him, they’ve become busier since the Covid19 Pandemic reached different parts of the world. Peres was able to hire 12 new team members as part of his team. He also mentioned that he observed a spike in his company’s daily activities, acquiring new clients via LinkedIn as well as other social media platforms.
He is best known for his business model called Breaking 9 to 5. What made this business model garner attention in the tech industry is the fact that you have the freedom to operate outside the confines of the 9 to 5 work cycle. It was the old business practices that made him decide to innovate his approach in the workplace. Peres believed that many of these old business practices waste time and valuable resources.
How Did He Do It?
He believes that a fancy office, attending strict work hours, and even the idea of going to the office, are old concepts that tend to distract us from what’s important which is to provide valuable services and products to clients.
The travelpreneur and podcast host believes that the pandemic is the best time for businesses to assess the current services and products that they offer. It is also the perfect time to check the current structure that their business is using. Entrepreneurs can take this chance to learn more about how their business can adapt to the current unpredictability of the economy and work environment.
With this simple formula, he mentioned that “the number of clients hitting my inbox over a given timeframe has more than doubled over the past five weeks”.
What Can Businesses Learn From Mikey Peres?
Using Peres’ ideas, businesses can beat this crisis in three different ways.
Work From Home
First, we are living in a time where almost everyone has access to the internet. If there is anything that the pandemic has proved, it’s the fact that a lot of businesses can continue their operations even though they don’t have a back office. Though it looked like a disruption at first, it seems that the work-from-home setup is here to stay even after the pandemic.
The idea isn’t exactly new. In 2013, study of Chinese call-center, employees who worked at home are 13% more productive than who work in office. Those who work at the comfort of their home are also happier and are less likely to quit their post.
Boost Communications and Online Presence
Businesses should focus on doing extensive online research, and put their attention on maximizing the power of new technology. Apps such as Bumble, Bizz, and LinkedIn can help improve a company’s online presence and help expand their network.
Perhaps, it is time to be more present on social media? Perhaps, retarget your current audience?
Explore Out-of-The-Box Ideas
And lastly, trying times require creative solutions. Why not take advantage of the situation where your customers are currently at home? Businesses can reach their audience using live videos on platforms such as Instagram and Facebook, continuing to provide clients with services, all while reducing the costs to produce them. Take gym owners, many have refused to close down and offer online classes via video streaming services.
Though the Covid19 pandemic made it tough for businesses to survive, some strategies can help your business flourish even during a crisis. All you have to do is to reevaluate the current reality and reassess possible solutions that can have a positive impact on your business.