Five ways for small businesses to rise after falling
What goes down must come up, but it may find a new path to the top.
Covid-19 and everything that went with it challenged businesses to dig deep in order to surface stronger. Tough times build resilience and allow us to explore new and creative ways of doing old things. We often learn new skills and we definitely learn a lot about ourselves and our team members. Stress reveals our innermost fears and exposes our vulnerabilities.
Every industry is unique and is affected differently.
Large manufacturing plants are not agile enough to implement new technology immediately and not everyone is required to become Zoom-adept and virtual fundis.
So, for the smaller, more adaptable business, what can we do to rise after the fall and rise stronger and smarter than before?
- Learn as much as possible about things that are directly related to your specific industry. Find out what the latest apps are and learn to use new platforms for running your business more efficiently, with less people and disruption, should we ever experience a hard lockdown again. Take advantage of the free information out there.
- Now is the time to invest in marketing like never before. In tough times marketing and training budgets are often the first to be cut, but this is the opposite of what should happen. It is a knee-jerk, fear-based reaction, not a well-thought-through response. Marketing on a shoestring is possible with a few clever tricks.
- Network like never before. Covid-19 has us all toasty and cosy inside, hiding behind our desks and laptops, still sporting slippers. Get up, don your mask, set up a coffee date and get reconnected to the world. It feels good. It builds confidence and it creates results.
- Be selective about what you pay for. Shiny-object syndrome is real. Facebook is listening. It is no coincidence that straight after you have had a conversation about crypto currencies or washing machines, the next best, discounted opportunity pops up on your screen. Knee-jerk reactions are costly. Make sure that you buy what you need, what resonates with you and what you can afford. Do the research. Don’t become an online course junky with stuff you have paid for but will never watch or implement.
- Stop worrying about the next person and what they are up to. They always seem to have it together. Stay in your lane. Focus on your business, your strength, and your plans. We waste time negatively comparing ourselves to those around us. We never know the real truth.