COVID-19

What Can Businesses Do During COVID-19?

Anthea Business Development

By Anthea Mumby

 

I shot this video a few days ago. Borrowing a lesson from the geese, I decided to write this post to help business owners who are worried about the impact of COVID-19 on their businesses.

Watch the video on Youtube

 

Here are a few suggestions that may be helpful to you.

Utilize organizations like the CFIB. They have opened up their phone lines to assist business owners, even those who do not have Membership. I was impressed when I called them Friday March 12 morning with an HR-related question and was told they were extremely busy, that they got back to me Friday evening at 9:30pm to help.

Consider the opportunity to work on your business, taking advantage of slower times to invest in your own education to become a more effective entrepreneur. You may find it helpful to study marketing, business development, customer service. If you have staff, have them also take some online education in areas that will improve their skills, whether technical, customer service, marketing, or other useful topics. Have them keep a record of what courses they took, and their key takeaways, so they can share them at an upcoming meeting.

Keep asking: ‘What are alternate ways of working, growing my business, reinventing?’ Write down your ideas, as many as possible. Don’t judge them until you get them all out, preferably on paper. For example, my personal trainer is now training sessions with me using technology rather than at her gym, which ensures her revenues will continue; and, of course, she is communicating with her clients the importance of exercise during times of stress.

Consider collaborating with your team over Zoom/Skype for business improvement ideas such as ‘how to create a five star customer experience’, ‘incentivizing you for better results’, ‘personal leadership during times of crisis’. Some ideas you may be able to implement now, and others at a later date.

Virtual Mastermind with other business owners, especially those you may want to work more closely with as potential business partners servicing the same client base.

Consider having a ‘back to business’ event at a later date and let clients know they will be invited to attend if they bring a friend who does not already do business with you.

Plan your Summer and Fall promotions now so that you can make up for any reduction in revenues this Spring.

Sell gift certificates now to be used at a later date, especially to your regular clients.

Keep in touch with your clients through email, social, phone calls etc. in order to offer tips, reassurance, to let them know you will look forward to providing service in future. Keep building your relationships.

Avoid reducing your pricing wherever possible; instead, think outside the box and consider providing more value before reducing your pricing.

And, remember as the business owner, you owe it to yourself and your business to take care of yourself. Take the opportunity to implement personal self-care confidence boosters such as gratitude, positive books and podcasts, meditation, sleep, and exercise. Find ways to remind yourself to do incorporate the ones that work best for you, and ask for support from others as you do so. Share with your teams how you are doing so, and encourage them to do the same.