Jorge Vazquez CEO of Redegal, comprehensive consulting, eCommerce and Digital Marketing agency Expert in transformation. Master in Strategy and Creative Brand Management – UPF-BSM Learn to conceptualize a brand and define its creative and communication strategy. Monographic course on Internet Law at CEF.- Center for Financial Studies, Know the legal responsibilities that exist in the digital environment to protect your company With this phrase from “Cash is the King” many executives are summarizing what, since the first day of the declaration of the coronavirus pandemic, has been the premise of companies and citizens throughout the Western world.
Despite the fact that many governments are promising and even offering trillion-dollar injections of UAE Phone Number List having our own cash, with constant and sound papers in our hands, will strongly condition the way in which we can face what seems to be the worst known crisis. During the first phase of the crisis, the fundamental thing for everyone, and the businessmen have played a very important and highly committed role, has been to safeguard the health of citizens. Now the second phase has arrived, maintaining our business, our accumulated effort for decades . In all the newspapers, phrases of small businessmen are read such as “without aid to bear expenses it is impossible”, “small businesses feel abandoned” and even accusations of opportunism to large supermarkets and companies that have an online store. Money is not going to be easy for any businessman. The slowdown in the economy has already acquired a gigantic size. We are in crisis, be clear . Therefore, money and financing must come in different ways than usual. The time of getting cheap money, quick financing for our business, like a couple of years ago, is long gone. Only those businesses that already have a treasury, a hypersancial balance and a solvent business plan that reduce their risk of non-payment will get financing. Let us remember that a bank is a business, and hard at four pesetas do not exist.
During these days I have reflected a lot about the immediate future of companies and I have asked myself again and again what should we change in the way we manage companies and work? To solve immediate liquidity problems, it is clear to me that loans, in my case, can be an option, but not the first. I am inclined to seek agreements and make solidarity decisions with collaborators, suppliers, tenants, creditors, in short, look for smart solutions and not the easy ones to request loans , which will only increase our debt at a time when we do not know how we are doing. to be able to return it. This health crisis has exponentially multiplied the dependence of companies on technological devices and large technology companies. Digitization is and must be the primary objectiveof any company during the de-escalation phase. Figures from the European Union show that only 14% of SMEs have a digitization strategy. In addition to considering that without digitization it has been a long time since any business can be run efficiently, as an entrepreneur I prefer to be digitally prepared to minimize my exposure to other future situations of closure of activity. Reading the EU data to the contrary, 84% of SMEs have not sharpened the ax in good times and, as I said in another article a few days ago, in situations of stability we must plan for the unpredictable.
The quarantine has caused a 50% drop in consumption in Spain. But consumers have discovered online shopping to stock up on food, toys, chairs for teleworking … A before and after in eCommerce that will generate a broad new stable demand for food, pharmacy, beauty, technology and gaming online. These are thorny times in which we cannot remain anchored in melancholy. Take action, be practical, and prepare. If the activity of our business is idling, let’s take the moment to rearm quickly. If you think that your business may have a different market penetration such as online commerce, analyze your possibilities, your financial investment capacity and resources and proceed.