How Your Business Can Navigate Uncertain Times- Top tips
The current pandemic situation has affected businesses across the world. The social distancing guidelines have kept businesses closed and people confined to their homes. Now as the situation gets better, life has been inching towards near normal.
Here are some tips for businesses to navigate the choppy conditions and ensure optimum productivity as they reopen their businesses.
Health is wealth!
Health and wellness of your employees and clients are going to be the top priority now. Your team and prospects will appreciate the fact that you are taking adequate precaution to keep the infection risks at bay.
It will go a long way in enhancing the confidence of your customers in your brand. Handouts like wet wipes custom hand sanitizers and facemasks should be made part of your primary promotional strategy in the days ahead.
Looking for something unique? Check out Printed Anti Germ Utility Tools that will help your recipients to avoid touch points as they open doors or press elevator keys.
Antibacterial pens is another innovative giveaway that will help your clients and customers to stay germ free as they go about their daily errands.
Stay Calm and Think
Stay calm and make well informed decisions that may help to keep your business afloat. Any impulsive decision that you take under duress may do more harm than good. Use all the information available about your operations before trying to implement any changes in your operations. Make sure to spend time to analyze the bigger picture.
Know Your Financial Position
Take a closer look at the financial position of your business and the resources that you have. Work out the overheads and expenses payable every month like power, rent or salary. Calculate the expected revenue that will come from completed projects or from your clients. A detailed analysis of your financial outlay will give you a clear picture of the immediate measures that have to be taken.
Explore the possibilities of financial assistance from government agencies and banks to know whether you are eligible for a payment holiday, an interest free loan or a cash support. Get all the information available from reputed sources to ensure a cushioning effect for your financial problems. Nobody wants to lose business nor does the government want to see people out of work. So, weigh all possible options to come up with the best package for your business and keep it going.
Make Short Term Planning
Engage with your customers continuously to answer their queries and anxieties. Be active on the social media and make sure to attend those phone calls that keep coming to make your customers know that you are open for business. Importantly, your customers can share their needs and requirements with you while you can suggest the new products or services that you might have added.
Be flexible enough to cater for new and changing demands. Announce discount deals or an effective marketing strategy that will keep the sales ticking even while offering what the customers need. See how you can diversify in your niche to get more leads, diversify your business and spread out your presence in the market.
Plan for the future
Though short term planning is more sensible in uncertain times like the current Covid-19 pandemic, a long term plan is essential for the future. Think of things to be done when everything returns to normal. Plan seasonal promotions, exhibitions, festivals or sports events and be ready. Ensure optimum productivity of the work force rather than downsizing the team because you should have a well trained team when the time comes. Recruitment and training will be much more costly than retention.
We have a lot of promotional items that are well cut for the new normal. Reach out to your clients and customers and retain them in your loop and keep the business conversations on.
“No man is broken because bad things happen to him. He’s broken because he doesn’t keep going after those things happen.” -Courtney Milan