Small businesses around the world are shaken up during this global pandemic. It is not business as usual. There are simple changes you can make to bolster your business now and going forward.
These are not normal times. Customers may still be uncertain regarding your current day-to-day operations. Many storefronts have reduced their hours to allow for additional cleaning. Businesses are experiencing delays in fulfilling online orders. People are worried about catching Covid-19 by shopping in-person. This makes proactive communications with your customers key. You must communicate changes and preventative measures you have taken.
If you are a retailer or are otherwise serving the public, be sure to have Covid-19 notifications at the top of your home page to communicate changes. Use email and social media to inform your customers. Reaching out to your customers will give them confidence and remind them of your brand.
You may be unable to deliver your traditional product or service to your customer. If you are in that situation an alternative product or delivery may be key to maintaining your revenue. Some online possibilities are coaching, courses, and tutorials. Think creatively about a product that best matches your business. These new directions can help you now and in the future.
Make as much of your business online as possible. Even if your doors are open, people are still trying to minimize contact. Continue offering Zoom meetings or other video calling. Continue providing local delivery or curbside pickup. These offerings keep both customers and employees safe.
Managing expenses has become more important than ever for small businesses. Particular attention needs to be paid to inventory, project management, re-evaluating
current financing options and auditing fixed and variable costs. Concentrate on your core business while increasing your flexibility. Some examples are to sell assets and then lease them back, contract manufacturing, and transportation fleet leasing. When determining which changes make sense for your business carefully consider both the near-term and long-term financial impact.
We don’t know how long the pandemic will last nor how long present social norms will last. We all need to make changes to adapt to the new normal. This will better position ourselves during these uncertain times and into the future.
Starting a NEW business or know someone that could use our help?
Call your friendly neighborhood attorney today.
With the right help, you are more likely to succeed. The attorneys at Shoffner & Associates will be happy to help you.
Freya Allen Shoffner, Esquire
Counselors to Small Business and Families.
Give us a call at (617) 369-0111 or email firstname.lastname@example.org