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How Your Business Can Weather the Current Economic and Health Crisis – HindSight

How Your Business Can Weather the Current Economic and Health Crisis

Due to COVID, you and your small business may feel intimidated as economic storms ravage the world. But you CAN and should be able to weather the current economic and health crisis by following these steps:

Reassure Customers

Just like with any trend, people like to know that the brands they buy from are up-to-date and aware of the world around them. Showing both awareness and empathy for customer demands keeps you relevant and trustworthy as a business.

Right now, you could almost say that health is the new fashion—as it should be, given the severity of COVID and its consequential outbreak. Use these times to your advantage, not your hindrance. Do so by reassuring your customers that you are indeed practicing health guidelines and precautions. There are a few measures you can take to make your business a safer place for customers and employees. Find ways to showcase these measures to reassure your customers that you prize safety and civic duty. They will appreciate this, and thus it can increase the likelihood of continued business.

Seek Out New Opportunities

Now is the time for creativity—not likely something you studied in school. But that is okay, there is never a better time than now to learn how to think outside of the box. In fact, you will one day be thanking these unprecedented times for a unique opportunity for individual growth as you reach outside of your comfort zone. Again, take advantage of the positives!

Truly, businesses that want to come out ahead need to get creative and seek out new opportunities. Get a Skype call going with coworkers, employees, or close friends. Treat it as a think tank—taking notes and reflecting on new and improved ways of managing business during social distancing.

Online Marketing

Where are all your potential customers right now? Probably online. And for that reason, online is where you should be. While you may be able to implement curbside pickup or other arrangements if you have a physical location, the bulk of your marketing should be online. How long has it been since you’ve dusted off that website of yours? Do you have the SEO that you need? Do you have or use your social media accounts? Luckily, virtual marketing is something you or your employees can do from the comforts of your home.

Yes, business is rough. The economy is at a downturn. But do you need to falter too? Absolutely not! You and your small business can stay alive during these unprecedented times. Follow this advice and you will have what it takes to make it through the storms and into the sunshine of success.

Have you weathered an economic storm as a business owner? Share your story by joining The Hindsight Project!