“Success is not final; failure is not fatal: It is the courage to continue that counts.”
— Winston S. Churchill
How can your business survive this lockdown?
As a small business owner, I have divided this video into 4 areas that you need to look into in order to win in this pandemic.
1 – Create Cash Flow
Create new cash flow for your business. First you can start by doing brainstorming with your team and look at what your competition is doing.
Then try to be better than them if they are doing something that is working just copy them and see what you can you learn from them and come up with action plan.
What are you doing in 3~6 months time? Look into all those area where this a gap in the market. Next is to take action that you need and make sure that someone is actually in charge and over seeing the whole thing.
Now you can also do complimentary trades. For example, right now movies industry is not doing well or no one is going to watch movie. If the movie industry actually have a channel online just like for example Netflix they would actually have some revenue to keep going in to their business. As a small business owner, you can actually look into what the complimentary trade that your business is currently doing that can help your customer. And by doing your first step brainstorming you should be able come with some ideas to complimentary trade. Then you can assist your customer and you can look into what other new services that your business can pivot.
To add on for example the Gym industry, we can’t go to the gym anymore. So we see that you do your home gym or you attend some gym program or through the online home gym services that you can actually hop onto. As a small business owner, could you provide some kind of online training to the customer some, or online meeting to your customer, they can understand in terms of the project that they are going to do how far behind or can they launch their products on time. These are services that you can think of. Do your customer need more marketing efforts? Can you provide additional marketing effort to help them achieve their goals?
You can provide your own consultational services to them and these extra services can create new extra cash flow for your business.
2 – Soical Research Online
Look at social media research now, Where your customer is coming from. For example: are they from Facebook? Are they
from Instagram? What is their age group? By doing so, you knew where a customer is coming from, you can better target your customer using a particiculor marketing efforts. And how much time do your customers spend on all this platform? Where your brand is actually mentioned a lot? All these information if you have a hand you will allows you to craft a better message for your audience. In this way, you’re ahead of your competitors during this period.
3 – Online Branding
Now is a very good time for you build up online presence if you don’t have a website or Facebook page yet. It is the best time now to start. You could built a following right now by asking your customer to go to your company page to like or go to your group to join your daily sharing on tips and tricks.
If you have experts knowledge, do share with them and at the same time keep your customer aware of the latest around your business.
Keep customer close to you at the same time, you can do marketing to them. The key is you really are not spending a lot of money to
keep acquiring new customer. In addition, you could also conduct online webinar to teach your customers something.Iif you have physical product to sell them why not do a Facebook live show. This is a fastest and easiest way to sell products.
4 – Update Your Customer
You can publish on your website, sent mailer or emails your customer. If you have a Facebook group, you can easily do it so by broadcasting to all your customers.
These are the 4 areas that you can actually leverage on and make use of the time now to improve your business.
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