How to Stop Coronavirus from Affecting Your Business

Coronavirus is affecting communities, businesses, and brands worldwide. Despite efforts by the CDC and WHO to control the disease caused by COVID-19, impacts are starting to be felt in local stores, with online retailers, and within both large and small businesses around the world. However, there are steps you can take to prevent Coronavirus from affecting your business. Innovative technology offers business owners potential solutions to prevent the deadly Coronavirus outbreak from impacting their bottom line. Here’s how to Stop Coronavirus from Affecting Your Business.

How Coronavirus is Affecting Business

Restaurants, storefronts, retailers online and off-line, as well as businesses both in Wuhan, China as well as in various other major cities around the world are being negatively impacted by the Coronavirus. Several weeks ago statements were made as to the long-term corporate issues to be faced as a result of the virus and today, many businesses here in the U.S. are feeling the impact of this deadly outbreak much closer to home.

Coronavirus has halted factories from operating in China, leaving many retailers scrambling to find alternative distributors to fill inventory voids. Large scale corporations such as Nike and Apple aren’t the only businesses impacted though. Locally, small businesses are feeling the brunt of the impact.

Major Cities Impacted

Restaurants in NYC Chinatown have reported as much as a 70% loss in revenue in recent days as a direct result of the virus. As social distancing becomes a new reality for many in major cities, businesses face the reality of limited staff, reduced operations in order to accommodate the lack of staff, limited patrons and a generally lower revenue stream than what they are accustomed to.

Cascading economic effects resulting from the Coronavirus continue to threaten internal trade, product consumption, production, and both regional and international supply chains. But, many businesses don’t have to take such a heavy hit from the Coronavirus. Internal business operations can, and will, go on if proper technology is implemented to continue day-to-day operations.

How?

The Answer is Live Streaming!

Live streaming platforms make it possible to have business meetings, day-to-day interactions, and important staff-level communication interactions without traveling or ever coming face-to-face with potentially sick members of your team. Businesses can benefit from live streaming video production in several ways, Coronavirus or no-Coronavirus. Video live streaming provides a simple, convenient opportunity for businesses to continue day-to-day operations with limited risk of exposure to the COVID-19 virus.

In addition to providing an innovative means of connecting with team members, Live streaming video production also offers businesses the ability to offer real-time interaction with customers or clients again, without ever leaving the home or office. Businesses that provide client services requiring frequent meetings should really consider live streaming to reduce any or all potential impacts that the Coronavirus outbreak could have on their bottom line.

Don’t Cancel Your Conference, Live Stream Your Conference

As social distancing continues to become more the “norm” for our society and the Coronavirus outbreak continues to play a key role in the way we live our lives, businesses must seek ways to continue to provide interactive, immersion experiences despite social change.

If you’re planning a conference or event, consider live streaming. Rather than cancelling flights, live stream your conference or major event to a wider audience with ZERO virus threat.

A New Opportunity for Growth

Conference live streaming represents an innovative opportunity to maximize reach, engage your audience, interact with viewers, and deliver exceptionally high-quality content without the worry that comes from attending a major event during a worldwide virus outbreak.

Live streaming your business conference has several other benefits in addition to preventing social interactions that risk the threat of contracting a virus.

Businesses that choose to live stream conferences and special events also:

• Benefit from the ability to charge for special access or VIP access to events.
• Reach more viewers that otherwise would not have been able to attend due to time or location constraints.
• See up to 30% higher attendance than face-to-face conferences.
• Engage attendees that are unable to attend for various reasons.
• Reach members that are dormant and would not have considered attending a live event.
• Create a virtual community that can lead to long-term relationships and networking opportunities beyond the standard member network.
• Power Through this Crisis with Innovation

Minimize Risk

The best way for businesses and individuals to power through the COVID-19 crisis is by focusing heavily on risk mitigation with limited impact to our daily routines. Innovative technologies, particularly live streaming to continue business operations with limited interruptions, will reduce the economic impact that this crisis will have on the business’s bottom line.

As you focus on ways to keep your business operations moving forward despite the worldwide crisis, consider the following:

Stay abreast of the latest updates

Don’t believe the hype! News organizations tend to hype up the content that is delivered to the general public. It is your responsibility to research what is, or is not, the most critical information regarding the Coronavirus.

Take expert opinions cautiously

Never assume that information leads to full-understanding. Watch out where your facts come from. Even the most expert opinions can sometimes be misguided. Employ steps to stay updated on the virus but make sure you’re receiving information from only the best, most reputable sources.

Prepare your business for the potential of an outbreak

However, remain flexible and be ready to change your plan on-the-fly. Often times, businesses get stuck in a routine of working towards a goal that is no longer the ideal goal to strive for. Be open and flexible.

This may mean you have meetings via live stream for the next few weeks while the virus threat runs its course. Don’t be afraid to adapt and change. Encourage business activities that take place online and welcome change.

Keep an open line of communication between upper management and employees

Recognize employee needs and do your best to accommodate them. Reduce travel or the need for face-to-face office interactions by employing live streaming video interactions wherever possible. Anticipate employee needs and accommodate them. Encourage innovative technologies to foster communication.

Employ rapid-reporting to respond to fluctuations in business activity as quickly, and efficiently as possible

Now is not the time to ignore performance or to write poor market performance off as “the result of the Coronavirus” – make sure you’re not assuming anything, you’re tracking and reporting everything. Use innovative reporting tools, and response protocol to stay the path to success for your brand.

Team Beverly Boy Live Streaming

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As you seek ways to overcome challenges faced by Coronavirus or other crisis situations that arise, business innovation is key. From simply changing the way we meet, using innovative technology such as video live streaming can keep business operations running smoothly.