COVID19 has turned the world upside down for most small business owners. While the main effects of the virus are behind us, it is going to be a long time before the world fully returns to normal – so if you are a small business owner, you may be wondering how to adjust to ‘the new normal’.
Here are five tips for business owners who want to ensure their business succeeds throughout COVID19.
1. How To Adjust To The ‘New Normal’: Don’t Be Afraid To Update Your Business Model
Many business owners fear change, but a big part of business success is the ability to adapt and change. What was once important to your business may no longer be as important; for instance, you may find that you are selling more products remotely, rather than in-store. If this is the case, you may want to spend more time and money on digital marketing so that you can effectively promote your products online.
2. Review Your Customer’s Needs
The things that used to matter to your customers may not be so important anymore. Everyone is adapting to the new world, and this may change your customer’s needs and priorities. For instance, hygiene and sanitation have never been so important! So take some time to think about your customer’s needs; do you think their priorities have changed? How can you update your business model so that your customers are still happy? Could you alter your current products to meet their needs better? Answering these questions will make it easier for you to adapt and thrive.
3. Accept That There May Be Permanent Changes
We may be past the worst of COVID19, but things won’t be back to normal for a long time. Experts predict that COVID will alter the world permanently, so accept that some of the changes you make to your business may be long-term. This may require you to hire more staff or re-budget, but these changes will be worth it if they help your business to stay successful.
4. Look After Your Employees
Your employees have been through a lot over the last year, so take some time to check in with them. A recent study found that one in five remote workers report feeling lonely, so you may want to create a sense of community to ensure they still feel connected. This could be a Whatsapp group chat for casual conversation, or it could be a monthly Zoom meeting with half an hour at the end for employees to relax and chat. You could also check in with employees individually, as this gives them a private, safe space to discuss their thoughts and feelings with you.
5. Congratulate Yourself
Finally you should give yourself a pat on the back! You’ve managed to keep your business open during a global pandemic, and that is seriously impressive. You’ve faced constant changes, new rules and regulations, and despite this you’ve survived. This shows you have strength and tenacity, and you deserve recognition. So celebrate your win – you deserve it!