A guest post from Carla Lopez
Unfortunately, the pandemic and its aftermath have been hard on many businesses. In order to help small businesses thrive, we've created this guide and we hope these resources help you make it through the pandemic as smoothly as possible.
Rebuild Your Budget
Whatever the “new normal” will look like in your business’s universe, revisiting your budget is critical according to CNBC. Take this opportunity to make sure your financial situation is in order:
● Reassess your business budget to get a strong sense of how the pandemic has impacted your finances.
● Hire a financial advisor to help you figure out how to get things back on track.
● If necessary, investigate what types of loans and grants you can use to get extra funding while you recover from the pandemic.
● Extra earnings, at least in the long-term, can be achieved by going back to school and earning an advanced degree like an MBA. You can wrap up your education online and do so relatively quickly; for instance, it’s possible to get your MBA through the University of Phoenix within 16 months, a timely and affordable strategy with a big payoff.
Prepare for the Post-Pandemic World
COVID-19 has certainly changed our lives, and some of those changes are likely here to stay; that applies to our personal and professional lives. Be educated and informed so you won’t be surprised when customers begin returning and sales begin to (potentially) rise.
● Take a look at how experts believe the world has changed due to COVID-19.
● If you haven’t already, install anti-virus measures such as plexiglass barriers at registers.
● Think about what services, if any, you can offer virtually or through delivery.
● Make expense tracking more efficient with automated invoicing.
Build a Marketing Plan
Perhaps marketing has never been as important as it is now. Consumers need to know you’re open for business, and some may need an incentive or two to come calling. The right advertising can help you bounce back once things open up.
● Set specific, measurable marketing goals so you’ll know if your campaign is working.
● Focus on a mix of digital and traditional advertising to catch all sorts of customers.
● You can keep things budget-friendly by DIYing your own digital content, such as a company blog or social media page.
Finally, remember that your community can be your greatest ally when it comes to making it through this pandemic. Reach out to experts like Andrew M. Ayers to stay aware of resources and assistance available to small businesses in your area. When you stay connected with your community, you’ll have a loyal team rooting for your success!
Andrew M. Ayers, P.C. provides an education-focused client experience designed to help you take control of your future, whether it’s an estate plan or a legal issue for your business. Let's schedule a Legal Strategy Session and create your best path forward in a direction that works for you!
Photo Credit: Pexels
