5 Ways to Save Your Business from the 2020 Recession | 5 Ways to Save Your Business from the Covid-19 Crisis
This year is something else; it started from bad to worse in its first 100 days. Bushfires in Australia, plane crash in Tehran, a volcanic eruption in the Philippines, a helicopter crash in California, and the elephant in the room – the Covid-19 pandemic.
With the government doing its best to flatten the curve and reduce the casualties, it has also put every business at risk. Everyone, not just entrepreneurs, is a victim.
However, it doesn’t mean you should abandon all hope and raise that white flag.
We, at Tulumi, find this situation to be more of a puzzle. Yes, it’s a rather challenging puzzle, but it is solvable.
We brainstormed together to find workable steps that every business, essential or not, can take. As long as you have the determination to keep your business alive in the middle of this crisis, we’re confident these will help:
Five Ways To Save Your Business From the Covid-19 Crisis
No. 1: Be Opportunistic
If you have a small business that’s non-essential, which can’t operate during the crisis, the best thing you can do is to take every financial assistance possible.
There are programs everywhere to support small business owners, not just from the government. Being up to date with these programs can significantly increase your odds of surviving the crisis. Facebook, Google, and other tech giants have allocated a budget to help entrepreneurs in need.
The point here is to do your research and see if you qualify. Contact your local government and ask if there are things that you can do. Call your bank and hear their promotions. Push things to the extent that you can generate even a little bit of money.
Hair salons are a big no-no at the moment when it comes to services. However, they’re allowed to sell their hair products. Shifting your angle to adapt to the current situation is the key to surviving the pandemic.
No. 2: Take Your Delivery to the Next Level
Your customers are still, believe it or not, in love with your product. They’re just afraid that it may have the virus, which discourages them from purchasing it.
Now, the WHO clearly states it’s unlikely for you to get the virus from objects. However, people aren’t taking any risk, especially when they have no idea how you handle your product.
Here’s what you can do:
Put your customers at ease by being transparent. What that means is you have to share videos or even go live on social to prove how hygienic you are at handling your product.
Wear a mask and a pair of gloves; do whatever you think is necessary to convince your customers their order is safe from the virus. Take their suspicions away.
Besides, sooner or later, the government is going to require every business to implement this practice. Not only are you putting yourself ahead of your competitors, but you’re also getting your customers to trust you.
No. 3: Embrace the Online Surge
This global lockdown has put everyone at home facing the internet, creating a powerful surge of online activity. You have to consider this as an opportunity. People today are more likely going to see whatever you post online because of the mere fact that they’re bored.
Boost your posting frequency and see the results. Scheduling your post to specific hours is not as optimal as it used to be. Remember, your loyal customers may no longer be in the office to clock eight hours a day. You should post as frequently as you can without being spammy.
Communicate with your audience as you would with your friends and family. Ask them how they’re holding up instead of sounding too “corporate.” You can even share memes! Use this surge to grow your online presence and enjoy the benefits of being a more recognized brand when things get back to normal.
No. 4: Repurpose Your Employees
Always, always, think outside of the box. We know things are tough, and you might have to let a few people go. However, you may also choose to train them to do something else and balance things out.
If you run a small deli and the sales haven’t been that great lately, you can always tap into other means to generate money.
Food delivery is a thing now. Instead of asking Joe to take some time off indefinitely, why not ask him to deliver food. You can even train him to do the marketing work for you by messaging people to buy from your store. We’re sure he has friends and family, he can start from there.
Not only are you helping people during this pandemic, but you’re also enhancing their skill set. Think about the productivity your team will offer after enduring this crisis because you opt to keep them.
No. 5: Reduce and Optimize
Last but not least is to re-evaluate your business. It’s the perfect moment to reduce or remove non-essential expenses.
As we’ve mentioned above, you can repurpose some of your employees to partially cover those things you’ve removed. The idea here is to be as efficient as you can be – even if everything has to be a bare minimum.
That renovation can wait.
Your second delivery truck’s maintenance can wait.
Marketing that new product can wait.
For now, only opt for those things that are proven to work and stick to it. Play it safe, and your business will be safe from this pandemic.
Hopefully, these five ways to save your business from the Covid-19 crisis will help. We’ve survived pandemics before, even without technology, and we will survive this one. Keep healthy, stay positive, and, above all, don’t lose hope.
If the current crisis hasn’t put your business in a tight spot, you should consider improving one of the essential aspects of your business – brand awareness. We can expand your business and increase your sales with our tried-and-tested digital marketing strategies. Contact us now or give us a call at (800) 481-1720!