It’s important to recognize this situation for what it is—a public health crisis.
At Alley, we want to do help your small business not only survive during this time, but thrive. With our virtual panel, “Building a Healthier Future Through Technology”, we spoke to experts within the biotech and health tech industry.
As we adapt to our new norms of remote work, we’ve consulted our panel of experts and founders who have been in our shoes before and now more than ever—making the tough decisions to keep their businesses not only running but some doing their part in the fight against this virus.
In this event, David, Yaniv, and Justin, present you with tangible, adaptable pieces of advice to help business founders just like you during COVID-19.
A New Opponent
In our lifetimes—especially in the lifetimes of our businesses, our companies have never had to deal with something like this.
Therefore, learning how real-world founders right now are approaching it from a variety of angles can help us puzzle together the ultimate, most impactful strategies, together.
Although it affects business schemes across the board, it most importantly has a large influence on the field of medicine.
As we dive into real-world stories from businesses about the current crisis and its impact on the healthcare industry, we learn more about how Sonavex Inc., Mid Atlantic Bio Angels, and BLUEWAVE Technologies, Inc. are adjusting to this new norm.
Finding Success in the Situation
First and foremost, to help your company thrive you have to put your workers first. This public health crisis is primarily an impact on the human element and secondarily on business.
With a Clear View on Reality
Depending on the service your business provides, your first steps you may have to take are backward.
1. First, you should evaluate where your business stands in this crisis:
- Is it a necessary business in the medical field?
- Is it a business that can be easily adaptable for digital?
- Will it take a hit in the next few months?
2. After evaluation, you may recognize that your business, like so many now across a lot of industries, may not be able to comeback for half-year from now:
- Your game plan needs to involve decisions that best mitigate the negative impact on your company.
- If you can adjust your game plan to adapt to help the situation, that’s also a plus
At Alley, our team is focusing on supporting our community digitally by sharing resources and hosting video events. We hope this event and our entire event series can help keep your business. Stay connected to the community, move forward in development, and grow with intentionality.