It's Not the Strongest That Will Survive

The impact of the pandemic has forced 1/3 of small businesses to change their business model, according to the #COMBATCOVID SMME Survey.Has your business model changed? How have you adapted during this pandemic?“It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself.” - Charles Darwin

This week we shine the spotlight on the POWER OF ADAPTABILITY and how you can pivot yourself from failure to success. We also answer some of the biggest SME Employees’ FAQs regarding support funds during COVID-19.Stay safe and healthy.

A LESSON IN ADAPTABILITY: “It Was a Case of Adapt or Die” – How the Bottles App Pivoted From Alcohol to Grocery Deliveries

Bottles App’s founders, Vincent Viviers and Enrico Ferigolli, say they knew they had to change their business model if they were to survive. “We have also been able to retain all and even create more job opportunities at a time when many small businesses are mulling retrenchments and downsizing.”The biggest lessons they learned:- Anything is possible.- Manage expectations, explain and be honest.- Communicate in an honest and transparent manner to help manage expectations.

READ MORE HERE

LESSON OF THE WEEK

“There's no such thing as a mistake, really. It's just an opportunity to do something else.” ― Ralph Steadman

READ: 2 Quick Ways to Change How You Think of Risk

Lessons for Entrepreneurs for Surviving/Thriving in a COVID-19 World

• There is No Perfect Time to Start a Business

• Why the Future Belongs to Those Businesses That Create it

• What You Can Learn From This Entrepreneur Who Launched Two Successful Startups In Two Years

• 5 Common Entrepreneur Myths We All Need to Let Go of

• No! You Don’t Have To Fail

COVID-19 Business Support

NEW THIS WEEK: COVID-19: How to Sell During a Crisis [Book Excerpt]

The strategies that you can implement now, include:- SEEK new opportunities for your business.- Product businesses MUST offer free delivery- CAPITALISE on underpriced and easily accessible advertising campaigns by advertising on social media.READ MORE HERE

Help for SME Employees (UIF, TERS, Compensation Fund)

How do Employment Tax Incentive (ETI) measures work and what UIF option is best for COVID-19 claims: The Reduced Working Time Benefit or the Temporary Employer/Employee Relief System (TERS)?Get your questions answered on issues like how PAYE Relief Measures are applied and what benefits your employees qualify for.

READ ALL ABOUT IT HERE

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Recently we also asked our readers on Facebook what they will remember if they were to get stuck.Check out what they had to say HERE.