Small business owners had a lot to think about in a short time when the first wave of chaos from the COVID-19 pandemic hit. In addition to worrying about the health and safety of employees and consumers, financial pressures became serious concerns as shelter-in-place mandates went into effect. Thriving businesses found themselves on the verge of collapse, and many are concerned about the future. Those who were able to adapt to the situation have fared the best, but no one is out of the woods yet. From business Christmas cards to government aid, here are some tips for keeping your business afloat during COVID-19.
Reconnect With Consumers
In a time of social distancing, everyone is feeling a little bit more lonely and isolated. If you haven’t been able to stay in touch with your regular clients, consider sending business Christmas cards to put your face and name back on their priority list. Reaching out to your former and current consumers is a way to still foster loyalty to your brand, even when the timing is chaotic and uncertain. Though you may be reaching out through digital means, a business Christmas card with a store coupon or discount code is a great way for consumers to tangible feel connected to your company especially around the holiday season.
Prospect for New Business
The sooner you realize that things will never be back to the normal you used to enjoy, the sooner you can get your business moving in the right direction of growth. Small businesses have had to find new ways of reaching out and developing interest in their brand, and it may take some unconventional ideas. Since the threat of COVID-19 has many people still staying indoors and avoiding public contact, consider your digital marketing strategy. If your online presence is lacking, you aren’t going to remain relevant in this post-pandemic environment. You need to gain new attention in order to increase your revenue stream.
Reduce Your Expenses
Finances always seem to be a stressor for small businesses, but with fewer consumers visiting retail locations or offices, things at the company may be taking a steep hit. You need to operate as lean as possible, eliminating unnecessary expenses and prioritizing cash flow. Carefully evaluate areas of operations where excess spending can be curbed. Even if it doesn’t seem like a big deal, every little bit helps. Don’t stock the breakroom with sweets, treats, or other splurge items. Consider allowing employees to work remotely, even if it is just part of the time.
Check on Government Assistance
Your small business isn’t the only one affected by the pandemic. The federal government realizes the impact this situation can have on the economy, and there are many new avenues of assistance during this time. Some financial institutions are taking a more lenient position on outstanding accounts and payment terms, and the Small Business Administration also has options for financial assistance. These programs are designed to keep you afloat when you are in a crunch.
Explore Alternative Income Sources
You may want to start thinking about additional income sources for your business, especially as a second wave of the pandemic is still in full swing. As restaurants have altered their service model to include outdoor seating or delivery options, you may also need to create a new income potential for your company. You may have to reduce your business hours in order to work a second job to support your business, or you may have to branch out and create an unusual aspect of service opportunity to bring in revenue.
If your business can survive COVID-19, there is a strong likelihood that it can survive just about anything. If you want to get a head start on making contact with your consumers, check out the card options at Cards for Causes. Choose a variety of high-quality cards to let your customers know you care.
