Many businesses are going to get hit hard – if not already – from the current Coronavirus pandemic. The economic disruption already falls in the trillions of dollars lost, putting households, small businesses, companies, and corporations into deep debt.
If we are all being honest, chances are, you might feel scared, uncertain and doubtful of what the future will bring:
What do I do now?
Should I let my staff go?
Do I aggressively save more money and eliminate expenses?
What’s going to happen with my clientele?
Will my clients stay with me or let me go?
The questions can go on and on and although there are no easy or right answers, what is happening is that we are being called upon to evolve, adapt and respond to change very quickly,
Here are a few ideas to start planning and implementing to help you navigate through this crisis:
Start with a three-month business strategy. You need to know exactly what you need to do and how to do it in the next 90 days. How is cash flowing into your business? What inventory can you reduce to free up cash? What other ways can you deliver your product and service? Focus on your mental and physical energy. Spend time understanding what your clients need now, how you can meet their needs and ways you can position yourself to be in front of people so they can know, like and trust you.
Market your business to reflect what is currently happening. As a collective, we are searching for leadership, certainty and income security. We are searching for answers to our current pains, not solutions to our future problems. Those who are going to seek your business right now must feel you can help them now and that their investment in your business is something they can rely on. Consider, who is your client and how will you position your business so that you can reach and speak directly to that person.
Incorporate more digital marketing. Being indoors, spending time online and with more people searching for solutions on the internet, this is the prime opportunity to focus on connection, conversation, and community in digital marketing strategies. Build your email list, grow your social media following, create ad campaigns to reach new audiences,
Believe you can grow your business and survive this crisis. Remember the days you said you wish you had time to work on that mini- business project, or a down week to implement new services, create new products or learn a new skill? Well, here it is. Now is the time to be giving more to your clients. Now is the time to help them meet their pressing needs and concerns. Now is the time to work through your strategic and marketing plan. Now is the time to grow your skills so you can grow your business. Be confident in your ability to figure things out.
Businesses that focus on these main areas are going to become successful. By paying attention to client needs and how to address them with your business effectively and efficiently, be reassured that, this too shall pass.