Currently, as of 27 March 2020, we are yet to develop a vaccine for Coronavirus. This crisis situation will remain like this most probably for another few months. Businesses are suffering and most just depending on government’s stimulus package for rescue. But don’t just depend on the others to save you. Do your own home work and workout new ways to sustain and grow your business.
These are the tough times for every single individual out there. Some do not have jobs, some do not know if they will be able to keep their job or made redundant, and businesses are losing their money.
In this article, you will find some exclusive tips to not just sustain your business but also grow your business in tough times. These tips will help you set up things for your business to recover easily after this crisis and grow in the long term.
1. Focus on Getting Your Business Online – Be creative and don’t just think in one direction. As this blog mentions, get your products and services online. You may be the owner of a brick and mortar shop, a supplier, you sell services directly or sell products or anything similar. The crisis situation may have reduced your sales but you should focus on selling online.
Start an eCommerce store. Bring your business online and sell your products online. Learn new marketing methods like SEO, social media marketing and PPC (paid ads). All these skills will help you sell online.
Once you learn or organise someone to setup these marketing strategies for you then not just in the time of crisis but also for future you will sell more and you will be able to grow your business in the long run.
Search Marketing helps your customers find out your business online via search engines like Google, Yahoo and Bing. The more they can find you, the more you sell. SEO is a long term strategy that means
Use tools like Google docs to bring your documents from your desktop to online so you can access them anywhere and any time.
Write blogs for your website and share on social channels. Give value to your followers and keep them updated with the latest in your industry in this time of crisis.
2. Learn New Skills & Implement New Systems- Don’t just sit at home. If you are working from home or running the business from home then you may have spare time now or at least more time than usual. You always complained you never get time for learning those new skills, starting the new projects or a side business. Now is a good time.
Use online learning platforms like eLearning Industry to learn new skills if required. Read books online (eBooks). Go to Amazon eBooks section and find some great non-fiction books to get some wisdom. You can also use Audible app to listen to the books. These are some great ways to enhance our knowledge.
Set up systems for your business as mentioned in the book e-Myth. Creating an efficient system means you do not have to depend on employees all the time. It also means you personally can let your system do the work instead of you working in it all the time.
3. Stay updated – There is a lot going on and it is important to stay updated. Governments of different countries are releasing economic stimulus packages to support the students, workers and most importantly businesses.
Businesses are important for any economy and your govt. must be doing everything possible to keep you running and to support you. Keep a check to see what in it for you. You may be getting concessions in GST, asset write-offs, discounts in your property rent and so on. There may be direct support payments for you. Banks are reducing their mortgage rates and even offering to pause the mortgage.
These are designed to support you so you can keep your job, sustain your business and keep paying your employee’s salaries. Make use of them.
In the end, stay safe. Stay indoors. If you are healthy then you can create wealth, you can make money in future. Stay indoors, make use of creative ways to be productive and invest time in things which will help you in protecting you from crisis and growing your business in the long run.
Things will change and this crisis time will be over at some time. What you need to do is do the right things for yourself, for your community and for the world.