Sima brings you a special episode regarding the current Corona Virus outbreak and addresses questions she’s been receiving on a wide range of topics. She hopes you will find this information helpful!
Additionally, Sima would like to extend her sincerest gratitude to all of the healthcare workers and their families out there who are putting their lives on the line for all of us to help our friends and loved ones get better.
What Is The Likely Impact Of The Corona Virus For The Market Research Industry?
Qualitative research will certainly be impacted. Enterprise clients are dealing with the same uncertainty that we’re all dealing with, regarding the economy and our physical well-being, so we just can’t know what is going to take place.
Clients will still need to make decisions around marketing spend, product development, and innovation.
The only way they can reduce that uncertainty around their decisions is due to market research.
Budgets will be tighter, but it would not be logical for a company to make a multi-million dollar decision without research.
As A Business Owner, Do You Have A Plan?
The stress we feel right now is because of the uncertainty.
If you have not already done so, take this time to start working on your contingency plans and incorporate multiple scenarios.
Although it may not feel like it right now, we are not actually in the heat of the crisis yet. If we do hit that bigger, deeper crisis level, having a plan or plans of action will give you something to focus on and the confidence in knowing what you’re going to do.
Speaking of Contingency Plans, Is This The Right Time To Raise Capital? Or Should I Sell My Company?
If you think your company is going to lose value during this time period, it’s something to consider.
You need to understand your tolerance for risk, and that’s the gut-check of what you’re willing to do. It is a personal decision.
What’s Your Plan For Your Kids?
In talking to her family, Sima says it was agreed on that they would have to work harder than ever to ensure that they are doing their part in this crisis: managing a business, helping the industry, helping others in the community, and solving tough problems for their partners and other clients.
This work will require many additional work hours and also require Sima’s kids to step up and do their part, such as doing their chores, managing their schedule, staying off of social media, being engaged, and being responsible.
Email me your thoughts!
Sima is passionate about data and loves to share, learn and help others that share that passion. If you love data as much as her, subscribe on iTunes and don’t forget to leave a rating and review!