Even before 2020 and COVID-19 happened, businesses have had to adapt to succeed. But now, more than ever before, keeping your business dynamic is essential for survival during a global pandemic. But your business doesn’t just have to survive; it can even thrive in uncertainty. Here’s how you can pivot your small business to adapt and flourish through unpredictable and turbulent times.
Keep Learning And Upgrading Your Skills
Continuous learning has long been heralded as a key to business success. As the face of your company, maintaining up-to-date and relevant qualifications can help boost your reputability. There’s also no shame in admitting that there’s a skillset or part of your business that can be improved upon. Could you improve your marketing skills? Or, if you’re new to the business world, you might want to consider a Masters in Business Administration (MBA). Developing the skills relevant to your business will strengthen your ability to adapt and develop your company.
Take Specific COVID-Safe Qualifications
With COVID-19 changing the rules of how people can interact and work together, taking the relevant industry coronavirus-safe qualifications will also give you an additional edge. For example, if you run a digital marketing SME that offers videography services, you could take courses for COVID compliant video production. It will allow you to keep working during the pandemic, provide you with knowledge of the required regulations, and keep your customers trust. There are COVID-compliant qualifications across various industries, including the hospitality, construction, and food and beverage sectors.
Boost Your Digital Offering
Now’s the time to strengthen your social media channels and website offering. Even for the newest start-up or the most fledgling business, a high-quality website and active social media presence will help keep those clients coming in while we are remote working. Looking at how your website functions on different devices will ensure that potential customers are not put off by a low-quality visual on a mobile or tablet. Over 90% of people’s first impressions of a business are based on their website design, so boosting your site’s visuals and navigation is essential in keeping customers’ confidence in your brand.
Keep In Touch With Your Network
Whether you’re a sole trader or working with a small team, keep in touch with your internal team and external network. You can cut yourself off from your network without even realizing it when remote working. Schedule in some time for a Zoom call with your current team, former colleagues, and extended network when you can. Virtual conferences and webinars also provide the chance to communicate over shared topics or debates. Updating your blog regularly can also grant the opportunity to connect with your network regularly by posting relevant content they can engage with
Have A COVID Exit Strategy
As long-lasting as the pandemic seems, this won’t last forever. Keeping in touch with current trends will help you create an exit strategy, so you can stay relevant long after the uncertainty ends. What new products or services will your clients be looking at when they return to the office? Will your current services be as relevant? Planning will keep your business flexible to the change that the end of the pandemic will bring. Assessing your competitors will also help establish your exit strategy. Are there any of your competitors that will come out of this situation stronger? What successful methods have they implemented during the pandemic? Then, consider your customer and their broader target market and their needs. How are their needs changing? Evaluating every aspect of your business and where it needs supporting or developing post-pandemic will help you develop a solid exit strategy.
Create A Strong Company Culture
Strong company culture is needed for any business, whether you work in a team of two or two-hundred. Create a strong company foundation that can survive remote working. That can mean different things depending on the business. It could mean checking in with your team more regularly via Zoom, arranging a weekly online social with your colleagues, or taking the time to praise individuals for their achievements, so they still feel connected. For many individuals, the shift to working from home might have had its own struggles, so feeling connected to the company can help keep that motivation going.
Create A Flexible Work Environment
As people’s schedules and work locations change, flexible working has become a great tool in a successful company arsenal. Consider switching to core hours (a few hours a day where all your team overlap is vital for cohesion) while allowing your team to be more flexible in the hours they choose to work. A flexible work schedule also allows you to cast a wider net when hiring, so you can have a dynamic international team rather than be limited by location or time zone.
Reduce Your Overheads
The smaller your outgoings, the more resources your business will have should you need it. Keeping your inventory small and encouraging remote working will help reduce both stock and office space costs. Reducing your overheads can also mean investing in software that increases automation. Anything that saves time so you can focus on business-critical tasks. Save time and money wherever possible so you can look at business development and investing in the things your business needs to thrive.
Foster Strong Partnerships
Use this time to look at businesses you might want to partner with and what services you might be able to offer them in return. Setting up strong partnerships can help boost areas of your business that might otherwise struggle during the pandemic. For instance, if you need to pivot your products to a new target audience, you might want to approach a partnership that already works with that market. Innovate UK offers sound advice for partnering with new businesses. New collaborations will also allow your business to thrive and develop after the pandemic.
While 2020 has undoubtedly been a challenging year for many small businesses, others have benefitted from the new changes that the pandemic has presented. For others, it is the ability to quickly adapt to a business that has allowed them to succeed despite COVID-19. Creating a dynamic small business is essential in today’s constantly changing economic and technological climate.
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