Recovering after a pandemic closure may be tougher than you anticipated. When it comes to small business success, sometimes the obstacles seem larger than life. After all, there’s no magic formula for cutting costs, maximizing profits, and bringing in clients.
But there are resources to help you grow your business, no matter what’s happening in the economy. Explore these resources for growing your business back stronger, courtesy of M. Alexander & Associates.
Go Virtual in Every Way
No matter what type of company you operate, there’s a way to move it online. Restaurants are offering delivery and curbside service, gyms are hosting virtual classes, and there’s a tech solution for nearly every business struggle.
Pivot your business to an online model or start a separate business for virtual services.
Research whether a custom app can support your organizational model (and sales).
Launch a blog to support your in-person and online outreach and lead generation efforts.
Be Attentive to the Admin Side
All those administrative tasks you never have time for are a necessary part of the business. So during this quiet time, turn to the books and explore ways to maximize your earning and minimize that expense sheet.
Determine whether you qualify for tax breaks ahead of tax season.
Improve your business with a formal structure such as LLC formation.
Compare a part- or full-time workforce versus independent contractors to minimize expenses.
Revamp Your in-Person Offerings
From protecting your customers to revitalizing your retail space, think about ways to overhaul your in-person offerings for consumers – whether it’s time to reopen your doors or not.
Strategize on social distancing measures for your physical location for reopening.
Create operational policies and procedures for any staff who work on-site or in-person.
Understand how your audience is likely to behave post-pandemic and adjust your sales and marketing offers accordingly.
Navigating the pandemic and reopening your company’s doors isn’t easy. But as closure requirements continue to ease up, there are steps you can take to make the transition smoother and position your brand for success.
If the pandemic has you reexamining your bookkeeping tasks, contact M. Alexander & Associates for practical solutions that work.
Photo via Unsplash
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