By Katrice Johnson, The PowerLink Expo, Inc., www.thepowerlinkexpo.com
This is a scary time, and everyone is on pins and needles wondering what’s going to happen when everything comes to a head and this pandemic is over. As small business owners, it’s been devastating to see how wonderful the economy started for over the past three years, and now watch how it has come to a screeching halt. However, most business owners don’t have time to really worry or feel the pinch. They are trying to keep their business afloat and this is the time to think outside the box. Because many are trying to think outside the box, sometimes the decisions that are being made are the best decisions a business has ever had to make, and will be put into play for the future even after this historical event is over. Others are making decisions that may be a turn for the worse, and they may never recover. Please understand that what I am saying is not to depress you. If you are at a crossroads and struggling in your business, this article may be exactly what you need to help you build your business in the right direction.
When times are rough, making the right decision is important because in many cases, you’re not just making decisions for yourself but for many others who have families and major responsibilities. Therefore, making decisions must not be taken lightly. So, here are some things that will help when making decisions.
It’s Okay To Not Make A Decision Quickly
Making decisions is hard enough. Having to make a quick decision could be one of the hardest things for you to do. Why? Because most of the time you’re dealing with the lack of all the necessary information, and you’re also dealing with having to make decisions that could create dire consequences in your business. When it comes to times like these, it’s okay to take a step back and breathe.
When the pandemic first hit, I was completely devastated. My entire world of what I felt was important was crushed, and I must admit, I was scared. But in my spirit, I kept hearing “REST!” So, I sat still. I made NO DECISIONS. I didn’t do anything for two weeks! When I got ready to do something, I heard “No, REST!” For me just sitting still and resting was one of the most important decisions I could have ever made. Why? Because what I wanted to do was way too important to just make a quick decision.
Just resting gave me enough time to think about how I could redirect my energy. It gave me the opportunity to come up with a sound plan. It helped me to see that I had some really good options, and it gave me the chance to see that all was not lost, and failing wasn’t something I had to worry about. Before you decide, take a step back, and breathe because just deciding isn’t all you have to do.
Think About How To Keep Your Business In The Forefront Of People’s Minds
Many are taking to technology to help them continue doing business. However, being home sometimes makes it difficult to do business even with technology. Therefore, we should come to some decisions that will help your business become more efficient while hunkering down and staying safe.
Now is not the time to stop advertising your business, products, or services, and it is relatively important that you plan for the future now concerning your business, in order to make key moves when the economy starts to pick back up. You can also start advertising your services and products now. In fact, now is the very best time to secure in consumer’s minds your business’ products and services. If you notice, all the car companies, the lawyers, stores like JC Penny, Belk’s, and Macy’s are all over the television and on social media. Even places like Office Depot, McDonalds, Geico, and AAA are all advertising more while we are dealing with our current event. What that says is they know we are in hard times, but hard times don’t always last, and when hard times are over, they will be here. Therefore, it’s important for small business owners to do the same for your business. The best thing you can do for your business is to show that you are stable and have stability—even though times are hard—and that you’re not going anywhere.
How can you do this as a small business? One way to keep your business in the mind of consumers is to send out an e-mail blast and let clients know that you’re still here for them. Give them tips and tricks that will help them make wise decisions while we are all in the same boat together. One good way is giving tips and tricks on making things easier for living, like 30-minute meals. Another one is arts and craft projects they can do with their kids while staying at home. You could also host an online video chat where clients can ask you questions about your products and services.
Let your clients know what you’re working on that you think will be beneficial to them once everything picks back up. and show them how you can be of service even now, even though we are all still having to stay in our homes to protect ourselves. The more you stay in contact with your clients, the more valuable your clients will see you in the future because you maintained a connection.
Prepare For Your Business To Grow
While at home you can improve on what you already offer by putting new systems and procedures in place and doing online training with your employees, so when your offices open back up in full swing, you will be ready for the influx of business.
This is the very best time to get everyone on the same page. Down time can be used for restructuring your company and making sure that everyone understands what they are supposed to be doing in order to help the business grow. You can hold online meetings and go over your company mission and vision. You can clarify your objective for the business to help you and your employees understand how to be better when dealing with your clients.
This is also a great time to build better relationships with your staff. If you have a good relationship with your staff and show them that you care about them as people, they will in turn care more about you and help you achieve the vision you have for your business. Hone in on your leadership skills during this time, and let your employees know that you understand their pain, and, if they are willing to work with you during these hard times, you will make it worth their while in the future. This will encourage loyalty not just with your employees, but with you as well. If you do this, when it’s time to reopen your business full throttle, you will have a strong front to present to people, and it will reflect in your profits.
Make An Investment In Your Business
Most people don’t see their business as something to invest in because they are too busy paying bills and employees and see that as their investment. However, your business is more than employees, products, services, and even clients. Your business is your opportunity to build on a future and make more than money. Your business could be the legacy that you leave the world to see, when you’re gone. Therefore, it’s important that you invest into it like it’s a part of who you are. Do something that you have never thought to do with your business and pour into it. Does that mean you treat it like a child or a person? No. However, what you invest could be just what you needed to do in order to reap some serious rewards. Take the money that you would normally be spending on networking events and opportunities—such as lunches with clients, out of town meetings and anything you have spent money on—and use that money to invest.
Plan to do something that you have not done in a while or have never done before with your business. Make an investment that will help your business be seen. For example, participate in a business expo, take out an ad, or make some real investment in your business for at least 120 days. Invest in something that will advertise, build a connection, or give your business exposure. If you do this, your business will in turn respond by creating more revenue for you.
Final thought
Now that you have read this article, please change your view, and see that this pandemic could be a blessing in disguise. This could be just the time you need to make good decisions, redirect to rebuild your business, and invest in it so that you can obtain the growth and rewards you’re looking for in your business. Therefore, never take anything for granted and use this time wisely because this pandemic can’t stop your flow, only you can. You are in control of what happens to your business and how the story ends.
