Most companies, big or small, to a certain extent have had a struggle through the pandemic, the majority of larger businesses may not have been in serious trouble but have had to adjust in some way to be sustainable. Small companies have been hit a lot harder, which is of no surprise.
A key component to any business these days is an online presence. If your company doesnt already have a website, consider starting a website of your own. However, if you’re one of the many small companies that have already reached this milestore, then well done to you, and if you’re still looking for tips on how to continue surviving or to even begin thriving again, then look no further.
First and foremost, it is important to stay calm. Look after yourself. Easier said than done, I hear you say but make sure you eat well, take time to exercise and time for yourself. If your mind is right and body is taken care of, you will have the time and clarity to come up with new ideas for your business.
Take your time with the big decisions. Do not do anything drastic without thinking it over. These ideas can either evolve or become clearer with time.
Allow the same for your employees because in the end they should know the business as well and can help with ideas moving forward. Communicate with your staff for a different perspective or even for emotional support if you need it. Working as a team is always good practice, but particularly in a difficult time like this, it can share the load and broaden your horizons.
Use social media
Social media platforms are a fantastic way to promote a business. Everybody is on social media and with lockdowns and restrictions, people are using it more and more, so every business should ensure they have a good social media presence.
Not only is this a great way to promote your business and any marketing strategies to your followers, but this will also raise awareness of your company to a broader audience and is guaranteed to generate new customers.
Social media is hugely cost effective and most experts will tell you that it will improve your company’s visibility, brand awareness and conversion rate.
If you’re interested in learning some more about improving your social media presence then take a look at this.
Make a three month plan
It’s important right now to manage your finances very carefully, so planning ahead financially, 3 months at a time, is a great way to stay on top of your position. Speak to your landlord and suppliers and see if there is anything they can do in terms of payment plans to spread the costs. It is in their interests to keep you, so they will more than likely have ideas or options in place to help you.
Having a clear idea of what you need to pay each month over the next three will help you have a clear idea of what you might have left in reserve for the months where you might not have so much coming in.
Also, look to cut non-essential costs. This could mean hiring agency staff rather than taking on any new full-time staff, downsizing your office space or moving to a shared space is another way, but these should be considered last resorts.
Always be careful when entering into payment plans though, as you need to make sure that its affordable and beneficial for both parties.
Look after your employees
Always remember that during these tough times that you’re not the only one that might be struggling, your staff are more than likely worse off but they are in a position to drop it and move on to pastures new if they need to look after them.
Reward your staff where you can, include them in the planning and decision-making process. You and your management may have the final say but including them in the process will help them feel appreciated. This can also help them find their place in the company going forward and who knows, if they know the business well, they could come up with some helpful ideas.
The pandemic has undoubtedly been rough for most, especially the smaller businesses but if you have survived, then this could be the ultimate opportunity to grow your business with prices potentially at a low, an abundance of people looking for new opportunities and plenty of interest in the online sector right now. Try not to jump into anything. Make sure you have a clear strategy.
If you’re looking for any other marketing tricks and strategies, then check out this article.