Has your small business fallen on hard times? Are sales falling due to the Corona virus pandemic? Does your small business risk or prone to failure? I am advising you today to take action and make changes to recover. I am dropping on this platform some business survival strategies you can use to get through difficult times.
My first advice is that you should not panic but stay calm and logically consider all your options.
These are recovery tips from a business downturn
- Assess your Business Solution: first take stock, determine what really needs to be done now, sit down and give yourself the time to plan for what is happening, get creative,this is not the time to just throw your hands up, get ready to deal
- Communicate: Talk to your employees and customers/clients, let them know what is going on, let customers know if you are staying open and if your hours of operations will be changing, let them know what procedures you have put in place to ensure you serve them better while minding their safety too. Let your staff know if you will need to change their schedules or the nature of work you will need them to do. Let them know if the situation will force you to lay off some of them or possibility of working from home or as freelance.
3: Reinvent Your Busineas to Survive: Take a cue from so many companies switching over to the production of materials needed in this pandemic season, so many companies have switched to producing facemasks, sanitizer, disinfectants etc. I want you to know that you don’t have to be a big organization to make changes, in fact the smaller and leaner your business is , the faster you can shift gears and zoom back into action.
4: Start Selling Online: My candid advice here is for you to try online selling Strategy. I strongly believe its time to get your head out of the sand, hear this, even when people buy in-person or on the basis of personal relationships , they are likely to research the products online before making decisions on what to buy and from whom to buy. Try build a small website for your business and the type of website and what should be on it depends on what you sell.
Let me stop here today till we meet next week Tuesday.