If you’re a small business owner who has spent the past six or seven months wondering how to keep your company afloat throughout the COVID-19 pandemic, you’re not alone. Countless entrepreneurs are trying to figure out how to recover from this major setback. With a little ingenuity, your business can make a comeback. We’ve gathered resources with tips on everything from overhauling your marketing strategy to helping your employees become more efficient remote workers. Hopefully, these resources for recovery from COVID-19 business setbacks will set you on your way back from the pandemic standstill.
Establish Financial Stability
Your business’s current financial situation may have you feeling worried about the future. Follow these tips to repair your company’s finances.
- Go over your income and expenses, and find ways to revise your business budget and cut back on spending.
- Seek out financial assistance if necessary – securing a grant or loan could help your business stay solvent.
- Invest in working with the small business experts at Maurer Consulting Group, who can work with you to identify any potential barriers in your way and create a unique growth plan specifically for your company.
Best Practices for Remote Work
If your team has struggled to adjust to telecommuting, there’s still time to bounce back. Here’s how to move projects forward when your team is working remotely.
- Choose user-friendly project management software to keep all of your employees on track with communications and deadlines.
- Implement new systems and guidelines that will encourage your team to collaborate more effectively.
- Improve your video conferencing sessions by testing your tech beforehand and starting each meeting with a clear agenda.
Pivot Your Marketing Strategy
If you want to improve your sales, you need to meet customers where they are: on the Internet! These resources will help you create a top-notch digital marketing strategy.
- Since you won’t be interacting with customers or clients in person, update your website to polish your company’s virtual presence.
- Don’t neglect social media marketing for your small business – it’s an easy way to reach new customers while people are spending most of their time at home!
- Kick off an email marketing campaign to get in touch with loyal customers who will want to support your business.
Protect Your Trusted Workforce
Fortunately, the current global crisis will eventually go away. The key to moving on successfully is to assure your staff is still in place, and that they’re ready and able to move forward.
- In addition to helping your staff adjust to virtually working from home, try to communicate and engage with them whenever possible.
- Invest in improving your staff’s skill sets to help the company hit the ground running when the economy begins to rebound.
- There has never been a better time to set up a mentor system for employees. If you have enough employees, pair them up to provide support for each other. Or, if possible, find mentors outside your business to work with them.
Above all, don’t neglect yourself – the leader of your small business team. Taking time to remember your staff and customers is commendable, especially during this very stressful time, but don’t forget to take care of yourself. You are facing as much stress right now – maybe more – that those who work for you.
Your small business represents your life’s work, and as an entrepreneur, you’ve faced big obstacles this year. This setback does not have to be permanent. Make a point to utilize some of these resources for recovery from COVID-19 business setbacks. By taking a step back and deciding on a new direction, you can ensure there will be brighter days ahead for your business.
Photo by bruce mars on Unsplash
Chelsea Lamb has spent the last eight years honing her tech skills and is the resident tech specialist at Business Pop. Her goal is to demystify some of the technical aspects of business ownership.
