ADOPTING YOURSELF FOR THE “NEW NORMAL”
Muhammad Ali
Strategic Financial Advisor / CFO / Non Executive Director / Independent Consultant
When the news is mostly #negative, it’s easy to forget there might be silver linings for small businesses in B.C. during #COVID-19. Depending on your #industry, there could be some #opportunities worth exploring—not only in the short-term as you #restart #operations, but also in anticipation of a longer-lasting “new normal.” Here are five to consider:
Focus on Local
COVID-19 is an unmissable opportunity to turn casual local customers into #lifelong ones. We are all spending more time in our #communities and #neighbourhoods, and many people are realizing just how #important local #businesses are to communities and #cities. Now’s the time to connect with them.
Let local people know you are open for business. Put in place a buy local #marketing #campaign or #contribute to other #organizations in your community that are working together to make a difference. Take the time to contribute in a #meaningful way, and your community will #return the #favour.
Improve Your Website
While #Amazon has seen sales go through the roof during COVID-19, you don’t need to be an #ecommerce giant to take advantage of the upsurge in online shopping.
Even if your business #model isn’t suited to online sales, this could the perfect time to make your website better, including:
- Reviewing your #content to ensure it reflects changing needs
- Updating your website to let people know about changes to your business due to COVID-19
- Posting details of your COVID-19 Safety Plan
- Setting up an email newsletter to keep in touch with customers
- Ensuring your site is #optimized for search so people can find you #online
Gain a Competitive Advantage
Many consumers are judging businesses—large and small—by how they #respond to this #crisis.
Consider how you can stand out, including:
- Becoming an #active part of your #local community
- #Effectively #communicating your #Safety #Plan
- Making your #customers feel safe
- Making it easy to buy your #services or #products
- #Delivering #excellent customer service
Make Your Business More Efficient
Almost overnight, businesses have had to do everything from launch online services to #adapt to a #remote-only #workforce. As the B.C. economy starts to carefully open up, it’s a chance to take a step back, reflect on what has changed, and look for ways to permanently #improve aspects of your business operations.
For example, can your takeout service be more seamlessly integrated into your business permanently? Could adopting remote working after COVID-19 save you money on #office space? What tools have you found that could help you create efficiencies and be more productive, such as online communication and #project #management tools, e-commerce platforms, and appointment-booking services?
Capitalize on New Ideas
There are many examples of businesses pivoting during COVID-19 because they had to. Now is a good time to look to the #future for #long-term business opportunities in the “new normal.” Start by considering these three questions:
- What new problems do people face?
- What new wants and needs do they have?
- How can your business solve these problems and meet these needs?
Start by focusing on your existing target market and think about how their needs and #buying #behaviour might have changed. Opportunities are out there if you are able to spend some time looking for them.
THANK YOU FOR YOUR TIME.
WOULD APPRECIATE YOUR FEEDBACK.