The COVID-19 pandemic has been hard on businesses all around the globe, making an already difficult economic situation even more challenging. The outbreak of the coronavirus brought numerous businesses to a halt, and while some had to shut down their businesses temporarily, others, however, had to close their businesses permanently.
As we’re waiting to see what the year 2021 has in store for us, businesses who were lucky enough to survive the turbulent year that 2020 was are now employing different strategies in order to adjust to the new normal and stay afloat during these trying times. With that in mind, we’re listing five effective tactics you can use to ensure your business survives and thrives during the COVID-19 crisis.
Take a look at what the competition is doing and learn from them
While COVID-19 has impacted practically all businesses, some businesses have made it through a rough patch while others have been and are still struggling. Take a look at the businesses that are staying afloat during the crisis. What are they doing? Which strategies are they applying? How are they positioning themselves and what can you learn from them?
By taking a look at your competitors, both indirect and direct, you can figure out the strategies that have worked well for them and then apply them to your business (if possible), whether we’re talking about marketing strategies, customer service, etc. Keep in mind that you may have to adjust the strategies according to your and your customers’ needs, though.
Make sure that your services are adapted to the current situation
Photo by Tranmautritam from Pexels
Depending on the industry you’re in, you want to make sure that your products and/or services are adapted to the current situation. This means that, whatever you do, you need to do it with coronavirus pandemic in mind, especially when it comes to marketing your solutions.
For instance, businesses can rely on digital solutions such as online check writing and mailing service to cut down on processing times of payments and ensure a safe, accurate, and speedy delivery. This could be particularly useful now that more people are turning to digital, contactless payments for making safe transactions. Businesses can also take a look at the current range of products and/or services they’re offering and see whether they can be marketed in a way that reflects their relevance during the global health crisis.
Examine issues from the top-down perspective
Speaking of adapting to the changes, this can also be the right time to take a step back and try to look at things from a different perspective. When dealing with a problem, look at the bigger picture instead of jumping to conclusions and making assumptions without hesitation.
For instance, discovering that an employee or a manager has been repeating the same mistakes may seem like a good reason to fire them. However, if they’re also bringing in consistent revenue, you may want to rethink your approach (e.g. retrain them instead of firing them). Every employee has their own set of weaknesses and strengths, and by examining the issues from the top-down perspective, you can reduce the chances of the same issues occurring again instead of making a decision that could negatively impact your future sales.
Pay attention to details
Photo by Stephan Müller from Pexels
While focusing on the big picture is essential, paying attention to details is equally important. Think about the small stuff that often gets overlooked. Although small, certain issues may have a negative impact on your business’s bottom line, and now would be the right time to begin sweating the small stuff.
Whether we’re talking about lacking or inadequate parking space, ineffective or obstructed company signage, or poor advertising, it’s essential that you identify these seemingly insignificant problems and tackle them as soon as possible. Otherwise, you’re risking them having an adverse effect on your business.
Focus on upskilling your staff
It might be challenging deciding what to spend your resources on, especially when you’re a smaller business working with limited funds. Given how COVID-19 has propelled digital transformation, you might want to consider upskilling your employees and sharpening their digital skills.
Investing in knowledge and new skills is the best way to equip your employees for the upcoming period and help them adjust to the evolving business environment, but you should also consider stepping up your game when it comes to digital marketing, communication, and data analytics.
Wrapping up
Staying afloat during the global pandemic may be challenging, and while there’s no universal playbook that businesses can simply pick up and follow, there are many strategies businesses can apply in order to weather the storm and navigate the turbulent waters of COVID-19 and uncertainty. Keep these general strategies in mind and you should be able to keep your business afloat and emerge on top.
About the author
6 Ways to Design a Kitchen for Aging in Place
Designing a kitchen that accommodates the needs of aging individuals is a thoughtful approach to home living, ensuring comfort and safety for years to come. As people age, their mobility and physical capabilities often change, making it necessary to consider these factors in a kitchen remodel. Understanding the Concept of Aging in Place Aging in place refers to the ability to live in one's own home safely, independently, and comfortably, regardless of age or ability level. A well-designed kitchen plays a crucial role in making this possible. Importance of a Functional Kitchen Design As the kitchen is one of the most used areas of the home, it needs to be adaptable to the changing needs of aging residents. The design should focus on ease of use, safety, and accessibility. Ensuring Ample and Safe Movement Open Floor Plan The way you […]
5 Private Event Types That Brings Together Family & Friends
Gathering with family and friends is one of life's greatest joys. In our fast-paced world, taking time to celebrate, connect, and create memories with our loved ones is more important than ever. Private events offer the perfect opportunity to do just that. This comprehensive guide explores five types of private events that are sure to bring together family and friends, creating moments to cherish for years to come. Let's dive into the heart of meaningful gatherings and discover the events that unite us. Family Reunions Celebrating Shared Bonds Family reunions are a time-honored tradition, offering a rare opportunity for extended families to gather, catch up, and strengthen their bonds. These events can range from simple backyard barbecues to elaborate gatherings at rented venues. Planning Tips Choose a Central Location: Select a venue that is accessible for the majority of family […]
Things to Look for in an Online Check Writing Service
In a world where digital transformation has redefined the landscape of financial management, the ability to handle monetary transactions securely and efficiently is paramount. With the rise of online financial services, businesses and individuals alike are seeking dependable solutions for managing their financial operations. Among these solutions, online check writing services stand out as a key tool for streamlining payments. Their increasing popularity underscores the need for a trustworthy and effective service. This choice, seemingly simple, holds significant implications for financial control, efficiency, and security. User Experience and Interface Design The ease with which one can navigate and use an online check writing service is as crucial as its security measures. A well-designed interface doesn't just make the process more pleasant; it significantly reduces the likelihood of errors — a critical factor when dealing with financial transactions. A top-tier service […]
5 things you can do today for a healthier tomorrow
As women, we often prioritize the well-being of our loved ones while neglecting our own health. However, taking small steps today can lead to a healthier and happier tomorrow.
Talking To Kids 101: The Great Power Of Meaningful Conversation
As parents, we all sometimes struggle to have a truly meaningful talk with our children. From tantrums through one-word answers to blank stares, there can be a myriad of challenges we face with our kids, unfortunately, even more often than we'd like to admit. Still, having a meaningful conversation with your children isn't impossible, and the following conversation-starting strategies will help you overcome certain roadblocks in your relationship. All parents have been there, and we all know that talking to our kids can be challenging at times. Getting unsatisfactory answers or blank stares can really get awkward and frustrating; at times, it's best to look at the very questions we're asking instead. Sometimes, by reframing our questions, we'll be able to spark meaningful and deep conservations that enable us to elevate our relationship to new levels. 1. Enhance Family Relationships […]
Team Building With Food: Fun and Tasty Activities to Try Out
Employees are what keep the company going, and having them cooperate effectively on a daily basis is vital. One way to achieve this is by providing them with plenty of opportunities for team building. Simply put, team building refers to tasks that aim to promote collaboration between employees. Not only do team building activities result in stronger, more cooperative team players, but they also help improve workplace atmosphere, and therefore, employee performance. What’s more, they are known to strengthen the bond between co-workers, often resulting in friendships. While there are a number of interesting team building activities, food-related ones have been trending for a while, and some of them are so fun and tasty that you should definitely give them a try. Book a group cooking class As a company, there are certain goals you need to meet every single […]
Related
Things any business should know about the importance of team building
There are many different factors to consider for those who wish to manage a successful business. Quite often it can be what works best as rarely are two organisations identical. Having a strong infrastructure is certainly necessary which will include the best management of the finances, whether done by an in-house team or if bookkeeping and accountancy are outsourced. Expert departments with skills in digital marketing can give a business a cutting edge over its competitors if carried out correctly and in a cost-effective manner. Being in an ideal location can create the right impression when trying to attract customers and instill confidence in clients that the business is serious about its image and intends to take advantage of it. Then of course, its recruitment is vital as employees are the ones who can make all the difference, especially if […]
Muse by Marchesa created by Georgina Chapman is available exclusively at Dillard's.
Dillard’s Introduces Muse by Marchesa
Dillard’s, Inc. (“Dillard’s”) (NYSE: DDS) is pleased to introduce Muse by Marchesa, a new line of social dresses, separates and footwear for all dress-wear occasions designed exclusively for Dillard’s by Georgina Chapman, Creative Director and co-founder of Marchesa. Georgina Chapman shares, “I am thrilled to introduce the Muse by Marchesa collection for Dillard’s. This line explores the space where couture meets ready-to-wear, with a distinctly feminine and modern romantic aesthetic. The designs are timeless, sophisticated, and meticulously crafted, featuring beautiful details and flattering patterns. Drawing inspiration from Marchesa’s rich heritage and iconic couture pieces, while also embracing a forward-looking approach, we’ve created a collection that captures attention and is meant to be treasured for generations. Dillard’s has been an ideal partner in bringing this vision to life, and we couldn’t be more proud of the result.” Dillard’s Vice President of […]
Why Choosing an Agency for Talent Acquisition Is a Game-Changer
Are you looking to hire actors, models, or other talent for your next project? Finding good talent yourself through open auditions can seem daunting and time-consuming, especially if you need to fill multiple roles. That’s why choosing an agency for talent acquisition is a game-changer: it’s the fastest, most effective way to find the right people for your project. A talent acquisition agency does far more than simply conduct auditions and sign talent. A good agency will also network, do outreach, and pre-assess potential candidates, evaluating their strengths, skills, and experience. This extensive background research allows them to find the perfect matches for open roles and recommend the top talent to audition with you. Let’s look at some benefits of partnering with a talent agency and how they can help you find the right people for your project. Partner With […]
Fine Tuning Your Business for Success: How Can You Do It Right?
Did you know that Australia has been experiencing more business failures today than in the last few decades? What experts call an “insolvency tsunami” has hit the country and more than 10,000 businesses have collapsed within this year alone. The sad news is, we can expect more businesses to go down—a record number—before this year ends. As a business owner, of course, you don’t want to be part of that statistic. The thought of having all your hard work and investment put to waste is surely unacceptable, and you would probably do everything to safeguard your business from failure. Succeeding in a time of failure is possible, that’s for sure. The key to doing that is by fine tuning your business to put it towards a path to success rather than failure. Here’s how to do it right: Know what […]
A Digital Nomad’s Guide to Bangkok
By the early 2000s, the idea of building a career at one company and staying put in one location was no longer the dream for many young people. Instead, they wanted a better work-life balance, to be liberated from the tedium of the office, and to get out and see the world. This shift coincided with the widespread adoption of the internet, and so digital nomadism emerged as a possibility. As more people adopted the digital nomad lifestyle, they started to cluster around certain destinations which are particularly accommodating and advantageous to them. The bustling Thai capital of Bangkok, a long-time favourite destination of backpackers and budget travellers, sits at the top of that list. This guide will explore why that is. Of course, the advantage of being a digital nomad is that you can choose where and how you […]
The Eight Style Tips That Will Make Your Wardrobe Feel Fresh
You open your closet filled with clothes, but you don’t know what to wear. You spend the morning trying different clothes, yet you still can’t find something that makes you feel good. If you can relate to this, then you must be experiencing a style rut, and that could affect your confidence in the long run. But before that happens, follow these style tips to turn things around and make your wardrobe feel fresh again: Clean out your wardrobe. Sometimes, you just need to take everything out and look at your clothes again to realise that you actually have a lot of good pieces to wear. So before you start shopping for new clothes, make sure that you do a wardrobe cleanout first. Remove all the clothes that you haven’t worn in at least six months and re-organise your clothes […]
