Are your a Start-up or a Small business and this time during the Corona Virus outbreak is one of the most toughest periods you might have experience since opening your business?
You are not alone if that has any consolation while you read this article. The point is what is next? How do i get myself out of this situation?
We would have suggested some marketing strategy or online advertisement…. Can I tell you the truth, that is not enough if you are not looking at all the building blocks you will need to endure this time. There is no time to sit around and wonder what will and what can happen.
Should you need to get in touch with us for business consulting, Software development and solution implementations. Get in contact. Need Digital Marketing advise and service. Contact Goldkey Digital.
You need to build a strategy of your own, your business need to adjust to the times we are in and you will need to use this time to grow your business to something more than just a hands and feet business. You need to grow and rise up to the current times and we think this will help you to put this together.
Working with clients and Growing your business
Online Presence: Blog Posts, Social Media posts, You Tube
Once your online presence to ensure your relevance. Adapt your business and make use of tools that you would not have made use of i the past. Reach out to new Clients even in this time. It is important for the Post-Corona business as usual.
In today’s digital world, audience builds your business. In order to grab the attention of your potential customers, content marketing plays an important role. Well, content marketing is a strategic way to increase your loyal and targeted audience with the help of attention-grabbing content such as email newsletters, social media content, uploading blogs, and guest posts.
Through content marketing, you are either going to educate your customers or address their pain points. And when you put attention to the content marketing of your business, then you can expand your reach in the potential market and build awareness of your service, brand or business entity. Engagement, views, and clicks, views are the currency of the realm, and the surest way to establish yourself as thought leaders on a subject.
Offers: Check, if there is merit in diversifying your offering to keep yourself relevant in a post corona world. Think about your stakeholders, yourself, consumer and employees.
Video & Zoom Calls: Transactions, university lectures, job interviews, and all business activities have already moved online via video conferencing/Zoom calls. Managing customer relations through video-conferencing maintaining the personal touch will earn brownie points.
Empathise & Strategise– It is important to keep our relationship with existing clients alive. Empathise- they are as badly hit as we are. Consider creating a pipeline of business through digital outreach. Look at the older leads that were on the back-burner due to one reason or another.
Luring The Market– Offering incentives and discounts to customers will help the business stay relevant in the current market and remain closer to customers.
Need help in formulating a Marketing roadmap and strategy. Or just want to reach out for advise. Make use of our 30 min no obligation strategy call. It’s Free!
Business and Strategy
Morality & Law- As a business don’t cut corners. Don’t do the mistake of doing something not in consonance with morality or law. It is imperative to be on the right side of the law as well as ethics- something which will hold the key to tiding over these difficult times and creating a sustainable value proposition.
Force Majeure Clause– Companies are worried about the consequences of the non-fulfilment of their contractual obligations. A provision that protects companies from such defaults is the – force majeure clause – which defines event/s that excuse the non-performance of a party. A contract may either explicitly list all qualifying events, or generally define a force majeure event as “an event beyond the parties’ control”, leaving room for interpretation. Thus, companies must look for examples of relevant language such as “disease,” “epidemic,” “pandemic,” “quarantine,” or “acts of government,” which may be interpreted to include the COVID-19 outbreak and excuse its non-performance.
Liquidity & Plan– Companies should ensure adequate liquidity to weather the corona-storm. Vital questions to ask your team are – whether we can withstand some more poor quarters if the economy sinks? Do we have contingency plans? Alongside answering these questions, companies should focus on timely payment of taxes and dues along with employee salaries and thereafter model their cash flow, P&L, balance sheet and identify triggers that might significantly impair liquidity. Need a consultant?, get in contact with Bluespan.
Finances – Are you finances in order, do you have a consultant or accountant that is taking care of this. Having an experienced consultant helping you through this is very important for you future existence. They can also assist you with bridging finance or business assistance plans from your government. Make them part of the journey and if they are worth their salt, they would have contacted you by now and not the other way around.
You need to protect your company with a business entity. In the early stage of your business, you might feel like paperwork is not important for your business, but operating a business without a business entity in place can put your personal assets at risk.
Having a legal barrier between your business and yourself is one of the essential factors for entrepreneurs to put everything in place. More importantly, it will help you in saving on potential taxes, limiting the liability, scaling the position of your business, and look more reputable to prospective clients.
Need a consultant?, get in contact with Bluespan.
Update your Business Roadmap – Your Business roadmap will not only assist you in going beyond your plans into goals which you want to act on, but it will also help you in avoiding any unnecessary distractions and diversions.
Now is the time to get your business plans and roadmap adjusted, review what you have planned for the future and make the adjustments that is required that you will need to action when this is all over. Roadmaps will help you in ensuring the ongoing day-to-day tasks align with and contribute to your higher level business strategy and track your progress toward goals.
Form Relationships – As a matter of fact, developing a robust network of successful entrepreneurs is a key for scaling your business. As long as you are engaging with other people, you are actively networking. Now is the time, many people are offering help and assistance, make use of this outreach. study your competitors and understand what they are doing during this time, make your own plan from what you learn, build alliances and reach out to them or their thought leaders in your market space. You will be amazed at what will happen when you start to learn more about different approaches, by just applying your mind to other businesses plans and actions. You can use a variety of services eg Meetup etc.
Take time and reflect, make use your current business relationships and ask advise from people that know how to address your concerns. You will feel overwhelmed, stressed and concerned for your business. This is normal and will not change, if you did not feel like this your behaviour would not be normal. Use the energy you have and turn it in to positive behaviour in turning this around.
You Can Do It! Believe in yourself, you started this business and you alone can keep it going. You have done this before the challenge was just different, but it remains a challenge that can be solved.
We wish you all the best and future for your business.
Best Goldkey Technologies
Need help in formulating a Marketing roadmap and strategy. Or just want to reach out for advise. Make use of our 30 min no obligation strategy call. It’s Free!
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