Shutdown 2.0 - How To Thrive

We’re living in unprecedented times...

... and none of us truly know what tomorrow holds. At the time of writing this, we’re about one week away from starting the 2020 holiday season. Several cities across our nation have already implemented various forms of lockdown and Corona cases are on the rise. The possibility of a second shutdown looms on the horizon.

BUT… we are entrepreneurs!

We are not a breed that cowers under pressure or caves in when the going gets tough. We’re strong, determined and willing to take risks. That’s what got us all through round one, and what’s going to help us thrive if Shutdown 2.0 happens. Below are some strategic tips to remember as a small business owner.

Prepare:

Write a Contingency plan:

• Preparing for the worst is never fun, but it’s critical as a business owner to think through possible scenarios in a season like this.
• Planning your response to certain scenarios helps you:
  
• Make decisions confidently
• Stop worrying about the “What if…”
• Minimize loss

Here are some resources on creating a contingency plan as a small business. Keep it simple, but put some effort into it.

1. https://www.fool.com/the-blueprint/contingency-plan/
2. https://www.rockdovesolutions.com/blog/what-is-a-business-contingency-plan-how-to-create-one
3. https://smallbusiness.chron.com/business-contingency-plan-1081.html
4. https://www.thebalancesmb.com/business-contingency-planning-guide-2947982

Get a real website:

Ok, as a website company we’re a little biased on this one, but seriously, if your business doesn’t have a website that represents you well, yesterday was the time to do something about it. Websites are not only for getting more business, they are people’s first impression of your business. If your website is not secure, not mobile friendly or looks like it was made 10+ years ago, you’re doing your business more harm than good. And websites are more affordable than you think.

Optimize your website:

Search Engine Optimization is crucial in today’s online market. Possible customers are searching for your products and services online, but if your website isn’t optimized to be found, you’re missing out. Ask about out our  special sale to get your business registered with online directories, including Google My Business.

Expand:

Sell online

In seasons like this, businesses that thrive learn how to expand when everyone around them is cutting back. Today’s market is pushing everything online, so don’t be left out. If you can sell any of your products or services online, don’t wait; there are plenty of online store options available that make it easy for the small business to sell online. (Contact us to learn more)

Add new products or services

Maybe you’ve got your products or services all set, or maybe adding a few additional items would send a message that you’re thriving in business and even expanding. Be willing to think outside the box. Increasing your line of services can increase your cash flow, and who doesn’t want more cash flow?

Focus:

Get rid of un-needed expenses

Now is a great time to review your current expenses and see where you’re spending money on things that can be cut out. Here are a few options to consider:

• Cancel online subscriptions that aren’t needed.
• Do an audit of your business insurances. You’d be surprised what you can save.
• Consider doing a 4 1/2 day work week, which would save 10% on payroll costs.
• Limit employee perks or benefits.

Be brave

Businesses that thrive during crisis are those who take risks and push forward when others around them don’t. You’re a small business owner and right now the odds are stacked against you. But you can do it. Be brave. Reach out for support from those around you and listen to advice from those you trust. We’re all in this together.