Early on in the coronavirus crisis, the National Federation of Independent Business (NFIB) claimed that 92% of small businesses said they had suffered negatively owing to the pandemic. As of now, several businesses have shut down or incurred huge losses as a result of the lockdown period. Nobody knows when things will get back to normal, or maybe, things will never get exactly back to normal. Either way, things have changed, and even though getting business back on track after covid, rebuilding is quite slow, and most business owners wish things moved a bit faster. But there are ways to speed up the recovery process, and here are a few of them.
1. Welcome the change in behavior and culture COVID-19 introduced
The pandemic exposed a lot of weaknesses that were previously seen as strengths. Technology has aided in driving business cultures, such as people working from home and connecting with colleagues via collaboration tools, including video-conferencing platforms. Indeed some organizations that have gone digital are adapting to the crisis better than their industry counterparts. Their business models and working processes made it easier for them to pivot more rapidly.
Therefore, companies that were not using digitals channels before should consider incorporating it into their business dealings or risk going out of business very soon. While online operations were already growing rapidly in many countries, the pandemic took this to a whole new level to the extent that Amazon could hire new staff when other businesses were struggling. Online interactions, ranging from training courses and entertainment, have all increased drastically.
Businesses that lack online presence have struggled, as have those that are into transportation, energy, high street retail, and tourism sectors. If your business already uses digital tools and has an online presence, you should go further by enhancing and expanding your digital channels. Your organization can develop omni-channel business models that combine digital and face-to-face offerings.
2. Get your staff the right tools
Software companies that are providing cloud capacity, collaboration tools, and software-as-a-service are experiencing increased levels of demand to meet rapidly changing customer and business behavior. From video conferencing software such as Zoom to social media, every company is investing in remote work tech tools for their staff, and you also should.
Set up a tutorial for your staff so they can get a sense of how to use these tools and what their functionality is like. As time passes, they may find out how flexible and easy it is and how they don’t have to drive every day. They can even choose for themselves the tools they like most so that they can continuously work from home. Your business should then have the right processes and incentives put in place to allow for that flexibility.
You should be able to work in flexible groups with shifting membership, from different locations, to address particular issues. Companies like https://www.intellectsoft.net/blog/what-is-onshore-software-development/ can also help you with software solutions, unique to your business, that could help you build the right team and manage it.
3. Use analytics
Your business must start using advanced analytics to combine new sources of data with their insights to make better and faster decisions as well as to strengthen their links with customers. This way, you don’t keep second-guessing why your products and services are not being patronized.
Tools like Hotjar can help you visualize how users and moving through your webpages.
4. Handle emotional issues with employees carefully
The boredom of the isolation period caused some mental health issues in some people, including depression, especially with people who live alone. Suppose you didn’t call your employees during that period. In that case, you need to start calling them, encouraging them to exercise, meditate, or just engage in a normal chat just to keep their emotional health in check and keep them mentally relaxed. This lets them know that you care, and a happy and motivated employee produces results.
5. Take a digital marketing course
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Now that transactions and business operations have gone online, you need to consider going online too. Your business is probably online already because you have a website and a social media account, but are you making any sales online? If not, then you need to learn how to sell online. There are so many digital marketing courses out there. Try one out. This will give you and your business a rapid push to make up for lost revenue during the lockdown period. You can even allow your products to be dropship. This way, you don’t do all the work yourself. A lot of people are making money online through dropshipping and will be glad to sell your products.
What are you having the most trouble with? Ask in the comments below.
Matt Hoffer is a crypto enthusiast and gamer. When he’s not de-constructing the blockchain, you can find him chilling with some lemonade in the shade or playing a round of golf.