7 Tips to Reboot Your Business After the World Pandemic

What started as a simple disease in a relatively small region of China is now a global pandemic that threatens to change our lives for good. Coronavirus is making an incredible impact on our daily routines, while businesses need to figure out what to do in times of COVID-19 lockdown.

According to initial reports, more than half of small businesses could vanish during the pandemic. The situation is far from good, but is there a way to protect your company and keep it alive once the whole coronavirus mess is over?

It’s hard to claim there is a surefire business protection strategy, but there are definitely a few tricks you can try in order to help your firm survive. We prepared for you a list of seven tips to reboot your business after the world pandemic.

1.    Protect Your Employees

The long-term success of your company depends on the people you work with, so the first task is to protect every member of the team. Don’t force them to work on-site but rather implement a remote work strategy.  

Let the employees work from home and give them all the equipment they need to keep the company fully operational. That includes digital devices, software, and online platforms they are already familiar with. Almost anyone can quickly switch to online work, from retail companies to the essay writing service. 

A study shows that nearly 80% of remote employees say they are more productive when working from home, so you don’t need to worry about engagement rates. At the same time, remote work might turn out to be the future of business with or without coronavirus, which means it can’t be bad to experiment with it as early as possible.

2.  Keep the Customers Informed

Companies that fail to communicate their actions in the age of the COVID-19 pandemic will definitely be the biggest losers. You don’t want to make this mistake, so be ready to interact with the customers and keep them informed about your plans and activities.

Use all the channels you have to establish communication with the target audience – from the company website, over emails, to social media networks. What can you say to the consumers in this period?

First of all, let them know about the technical aspects of the business such as opening and closing hours, customer service lines, and similar. Secondly, keep them informed about the current condition of your company and possible issues with inventory management, shipping, etc.

Transparency is essential. Everyone is forced to improvise these days and your customers will understand the challenges you are facing, but the only thing that matters is to let them know on time and directly.

3.  Minimize the Consequences

No matter how large or small, every company is going to feel the consequences of the pandemic sooner or later. All you can do is prepare for it and try to minimize the consequences as early as possible.

Start with your supplies, especially if you are selling physical products. Do you have enough items in your warehouse? Can you deliver the projected number of products in the next two or three months? If not, then you should contact suppliers and order additional goods. You should pay special attention to top-selling products as you don’t want to see loyal customers switching to another provider.

Another thing you can do is to renegotiate the existing contracts and ask for price reductions from your partners. Every link in the chain needs to give up on something, so why wouldn’t you ask for additional perks or incentives?

4.  Apply for Emergency Funding

Entire economies are falling apart because of the coronavirus outbreak, which forced governments to react and launch emergency funds. If you are experiencing cash flow issues or realize that the problem may occur soon, don’t hesitate to apply for emergency funding.

International organizations such as the World Bank have already issued the first sets of emergency support, while almost every national government is doing the same thing locally. For instance, the US government passed a $2 trillion stimulus package to stabilize the American economy during the coronavirus crisis and $349 billion of that was earmarked for small businesses.

But you do have to be very quick because it looks like everyone is rushing to get their portion of the emergency fund.

5.  Think About Transferring the Entire Business Online

Coronavirus has given online businesses a brand new boost in the last couple of months. As brick and mortar shopping is shrinking, online sales are booming in nearly every niche – from grocery eCommerce and shelf-stable goods all the way to health and safety products.

Transferring the entire business to the Internet is impossible for certain services like hairdressers, dentists, and similar, but the vast majority of other companies can change their mindsets and take advantage of online operations.

Jake Gardner, a business analyst at the best essay writing service, says that the strategy is particularly suitable for service and product-oriented companies that can afford to neglect physical stores and focus on online marketplaces exclusively: “And when the pandemic is finally over, you can adjust your services and create a practical combination of online and offline business activities.”

6.  Invest in Digital Marketing Campaigns

How people spend their time in quarantine? The answer is simple: They are constantly online. Although it’s not a good thing in itself, it is a great opportunity for you to take the extra step and win over the target audience with creative digital marketing campaigns. It’s a complex and long-term process, but you can begin with the following basics:

-   Publish blog posts on the website: Blogging is by far the most popular content format, so you should take advantage of it and publish articles that can inform, educate, and help readers solve practical problems.

-   Send informative email newsletters: You can send content compilations to your subscribers and perhaps even keep them updated with the most important news about COVID-19.

-   Post entertaining content on social media: There’s also enough room for entertaining content, but you can leave it for your social media accounts.

7. Make a Post-Pandemic Business Strategy

No matter how serious and widespread it might be, the COVID-19 pandemic will not last forever. A clever business owner should be ready for the post-coronavirus world and make a long-term strategy to prepare for new challenges. Generally speaking, you should design three types of plans:

-   Optimistic plan: Perhaps your organization can make it through the mess intact, so you can keep working as usual and

-    Realistic plan: The best idea is to prepare a realistic business strategy and find ways to repair the damage caused by unexpected market disturbances.

-    Pessimistic plan: It’s a worst-case scenario with all the corresponding consequences.

The Bottom Line

Running a company in the age of COVID-19 pandemic is everything but simple, so you must be agile enough to find the right business protection mechanisms. In this post, we discussed seven tips to reboot your business after the coronavirus outbreak. Try to make the most of it as these tips could help you to save the business in the long run.