7 Steps You Should Take To Maintain and Grow Your Business During the COVID-19 Pandemic
The COVID-19 pandemic took many businesses by complete surprise. They were unprepared for prolonged shutdowns, shelter in place orders and a scared public. It doesn't have to be the end of your business, however. There are things you can do to successfully navigate the pandemic and its consequences. With careful planning and a willingness to adapt, your business may even see growth.
1. Communicate With Customers
You must build and maintain trust with your customers, and that is especially true during the pandemic. Communicate with them about how COVID-19 is affecting your business. Be honest and direct about the changes you have made in response to it and what changes you see in store for the immediate future. Keep in mind that raising rates of infection or hospitalization may cause restrictions to backslide, so don't make promises you can't keep.
2. Extend Service Offerings
Growth might not be forefront in your mind, but there are actually plenty of opportunities for it right now. People are changing how they shop for goods and services, and you can capitalize on that by adding ancillary services that compliment your current lineup. For example, if you have a business in Nashville, search out a service to help improve your landscape of your business. Searching out your local business that provides such services will help them also maintain their business through the Covid-19 economy. Wherever you are located, make sure to keep your local economy up and running because we are all in this together.
3. Adopt Needed Safety Protocols
Stay on top of proper safety precautions and reopening guidelines in your area. Work to implement proper hygiene and social distancing recommendations. Have enough sanitizing products like hand sanitizer, wipes and disinfectant sprays and ensure all of your employees and customers have access to them. Add hand sanitizer dispensers in common areas like the breakroom or check-in kiosks. Encourage everyone to implement appropriate like hand washing and covering coughs. Where possible, avoid having groups meet in common spaces such as conference rooms or auditoriums. If your business does not allow social distancing, it might be a good idea to require tasks or face shields.
4. Evaluate Your Supply Chain
The pandemic has exposed serious flaws in the global supply chain. Take time to evaluate your business' supply chain. Look for weak links or areas where there could be shortages or bottlenecks before problems occur. Any supplies that are exclusive to a particular supplier or geographic location could dry up if an outbreak were to occur in that part of the chain so find a backup source you can turn to in a pinch. Who knows, you may end up finding a supplier that offers the same products you've been buying at a better price.
5. Negotiate With Vendors
Lower supply prices mean a lower production cost. This can help offset increases from reduced production and increased safety measures. Supply vendors aren't the only area to look for lower prices. Reach out to utility companies and service providers, too. Most businesses are in a similar situation, and they may be open to a slightly lower rate if it means retaining you as a customer.
6. Rethink Marketing Strategies
More people working remotely means more of them online and browsing. While paid ads on sites like Google and Facebook have declined, SEO content is having its time in the limelight. Rethink how you share information, and take steps to maximize exposure in a natural way. You want to address the pandemic without appearing like you are trying to capitalize on the deaths of thousands of people. Actions speak louder than words, so take action to help others and then share what you are doing.
7. Learn To Be Flexible
Above all, you will need to develop the ability to flex and change as the situation does. Many experts believe an navigate the pandemic and other crises that come along. What is going on today may be completely irrelevant tomorrow or next week.
In order to successfully lead your business through the COVID-19 pandemic, you will need to make some changes. Learn to adapt to the ongoing situation, acknowledge and address the impact the virus is having, and take decisive action to help your employees, customers and the people in your community.
