By Durgesh Prajapati
There has been no tougher time to operate a business big or small in the past 100 years than now. Even before the pandemic brought the world’s economy to a shuddering halt there was rising pressure on business owners.
Tough times don’t last forever though and rather than giving up, you can use them as an opportunity to learn, adapt and overcome. Frank Sinatra once sung of New York, “If I can make it here, I can make it anywhere.”
That sentiment stands for business owners in 2020, if you can make it through a global crisis, you can make it through anything. However, it can be hard to look beyond your circumstances and plot a way out and back to prosperity.
If you’re one of the hundreds of thousands of business owners around the planet looking for a metaphorical lifeline, read on to find out what business tools and strategies you can utilise to right the ship and get your enterprise back on track.
No-one can go it alone and come out the other side completely unscathed, sometimes the bravest thing to do is accept that you need help. Fortunately, there is no better time to ask for help as a business owner than now.
Earlier this month Governor Gavin Newsom signed specific bill aimed to help small businesses in Santa Clarita. The most notable is Senate Bill 1447 which authorized a $100 million tax credit hiring program for small businesses.
In addition to this Assembly Bill 1577 introduced recently excludes gross income Paycheck Protection Program loans that were forgiven through the federal CARES Act. There are also a number of other government measures that could be of help to you and your business at this time.
Hire the right people
It might sound counter-intuitive to think of hiring new staff in a period of economic instability but there is never a wrong time to hire the perfect recruit. Navigating trying times is a collective effort and with bright, creative minds on board your business will be in great shape to overcome any obstacle.
Lusha’s extension software is a great of example of a tool for recruiters which allows you to gain valuable business contacts and access a pool of highly skilled potential team members. It’s easy to use and navigate and there’s no reason you shouldn’t be using it right now to take your business to the next level.
Company’s that can harness their creativity and resilience will come out the other side of this pandemic in great shape. Why would you turn up the opportunity to connect with recruits that have both of those qualities and more?
Communicate with customers
When customers are not able to physically visit your store for a product or service, what often gets forgotten here is the relationship that businesses have with their customers.
If you simply retail in a physical store and have no online presence, you may find that your loyal customers have gone elsewhere. Even when they cannot shop with you or conduct business with your company as usual, your customers are still important.
Maintaining open and honest channels of dialogue with your customers will keep you in their mind for when normality returns. Also, make sure to engage with your customers and see what they want and need, you could just stumble across a new service to boost your cash flow.
One of the easiest ways to reach a huge audience of potential customers is by placing engaging ads online. Now could be the perfect time to review your online advertising campaign and make sure it strikes the right tone.
By placing online adverts, your existing customers are also being reminded of your brand, products and services keeping the relationship on-going.
You might hear other business owners say that their customers are doing X, Y or Z and attempt to capitalize on these changing trends. Unfortunately, the evidence that you have is anecdotal and not based on empirical data.
If you really want to dig down into the trusted stats and find out what customers are doing and why they are doing it take a look at Google Trends. The tool can show you what people in your area are Googling, what trends are developing and even what they are buying.
This data can be a gamechanger for savvy business owners and can allow you to improvise in order to make the most of the shopping habits and behaviours in your area.
So, in an uncertain time and economy, make sure to utilise the tools and services available to you as a business owner to help your business thrive throughout!