5 ways to navigate your small business during the COVID-19 pandemic

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There is no question that the effect of Covid-19 was among the hardest affected by small business owners, but that does not mean that there are no opportunities to accept it. Now is the ideal time to take a step back, make a plan, build a network of support around you and move forward with clarity and intent. here are 5 ways you can keep your business UP!

Connect with your community:
In a time like this, the value of engaging with those in the same industry for help is increasingly seen by more entrepreneurs. Social networking sites such as LinkedIn provide a great opportunity to communicate with others and begin to build a strong peer community. Find people in a similar situation to you, don’t be afraid to reach out, start a helpful discussion or thread, and invite others to join – you will be surprised at how quickly you find your people.

Communicate with customers and consumers:
Whatever industry you are in, it is now a very important time for customers and customers to reach out. This is essential for your current clients, but also for new clients in particular. This does not need to be a sales pitch – it is very important to just check in to see how they are doing and what they need right now. You may have someone else in your network who can help improve your friendship with them in the future, even though you don’t have the answers right now. Right now, it is about listening and providing real value and experience.

Focus on customers over competition:
Instead of bringing value to their own clients, a lot of people concentrate on their competition. It’s customer service that separates big business from small business. We have the opportunity to adapt rapidly and adjust what we deliver more effectively to suit clients’ needs. Now is the time for your organization to look deeper into what has served well for you in the past and what you can do to provide consumers with value. This could be by services for incentives, discounts, flexible future reservations, interactive sessions, or even starting an e-newsletter. Think on what you can do now to keep your customers so that you are the first they think of once things get going again.

Find the pivot point:
There are a lot of fantastic examples of organizations accepting the current situation and pivoting into entirely new areas successfully. But you need to be mindful of how you do this and remain loyal to what your organization stands for. Know your niche, look at what your customers really need, where you’re sitting right now, and then see where the logical pivot is. Right now, customers want to support small businesses, so don’t be afraid to tell your story and remember why you started the business first – what problem in this environment can you solve for your customers? Think of what you are doing well, and multiply it. It’s time now to keep going,

Know what financial support you have access to:
A lot of people are, understandably, stressed about money right now. survivalfund.gov.ng is a great place to start to read up on the latest resources that may be available to you. The two main grant options to look at as a small business owner is the job retention and self-employment scheme, it is important to do your own research and keep an eye out for new initiatives or local council options relevant to you.

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