Businesses Surviving Lockdown – What History Taught Us & Survival Tips

Over the past few months, COVID-19 has caused a detrimental influence on the entire world. Companies and industries have been forced to shut down, causing countless businesses across the world to face a deficit. Even the economies of countries are draining. Amidst this, many businesses have become bankrupt and many people have lost their occupations as a result.

However, this is not something new either! Businesses across the world have confronted closures and bankruptcies before, and many have even survived that time. Be it wars or economic scarcities, businesses have reformed themselves accordingly were the ones that survived and will be the ones that continue to survive.

As the world undergoes such a massive pandemic, it’s a remarkable time to gaze at history and understand how businesses reformed themselves to confront such catastrophes. No one knows when this pandemic will end and there’s no certainty of it ending anytime soon either. Therefore, it’s better to adapt your business instead of it being erased.

How Did Chipotle Survive An Outbreak?

In July 2015, there was a massive E. Coli outbreak in the United States, which influenced Chipotle more than any other business. In only a few weeks, the virus spread across numerous states and persisted for almost a year. As a result, Chipotle faced an 82% reduction in profits during this time and their stocks went down by almost 15%.

When Chipotle eventually recovered, it wasn’t because of fortune. Rather, Chipotle gave the people what they wanted. E. Coli was mainly found in the meat and intestines of animals. Hence, Chipotle stopped using sausages and began promoting their vegan products. Moreover, they introduced a more hygienic atmosphere to their restaurants.

In addition to this, Chipotle’s CEO, Steve Ellis released a statement to ensure consumers that their restaurants would be “the safest place to eat”. While all this seems counter-intuitive, Chipotle’s stocks made a 5% increase after this statement.

Source: MarketWatch

What Can You Do For The Survival Of Your Business?

COVID-19 isn’t going anywhere, anytime soon. So, it is better to optimize your business to ensure its survival during the pandemic. But, what can you do? Fortunately, Utility Bidder has you covered. It provides over a hundred strategies to aid you in optimizing your business according to the current macabre situation.

By understanding what other businesses would do in the current circumstance, you can educate yourself on how you can save your business and its reputation. Utility Bidder makes it simple to comprehend and educates you in making the correct decisions for your business. Remember, COVID-19 is not the end of the world; it does not have to be the end of your business either!

Also Read- 4 Ways to Achieve Work-Life Balance [Best Guide]

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