By Elena Stewart
It’s been a crazy year for all of us, but those of us who run a small business have been hit in a unique way.
No matter what kind of company you run, you’ve had to adapt. As a certified life coach, I know I’ve certainly had to! For one thing, I had to transition to virtual client sessions. I’ve also had to change my pricing to keep clients. Moreover, because I lost business early on in the pandemic, I’ve had to do more cold calling to prospective customers than ever before. But my hard work has paid off, because I’m still going!
If your small business was affected by the COVID-19 outbreak, the following growth strategies can help you stay afloat throughout the pandemic and come back even stronger on the other side. These tips can help you grow your small business, build a stronger online presence, and reopen your physical location to the public once it’s safe to do so.
General Growth Strategies for Small Businesses
These effective growth strategies will help increase your business revenue and expand your customer base during this challenging time.
- Adapt your small business to life in the age of COVID-19. Explore new ways of serving your customers, adapting your marketing efforts, and engaging with your staff as they work from home. Personally, I now only offer clients virtual sessions, which was a tough adjustment. However, there is a bright side – I can now work with people who don’t live in my area, which brought lots of great opportunities my way!
- Grow your small business by increasing your marketing budget to attract new customers and letting go of your poorest-performing employees and/or clients.
- Create an ecommerce website so customers can continue to support your small business, even while your physical location remains closed to the public.
- Let your customers know if/when your small business is reopening amid COVID-19. Place signs and banners outside your physical location, post on social media, and update your business website. I’ve kept in constant contact with my clients throughout this journey to let them know my services continue to be available. This even helped me earn referrals, since many other life coaches paused their business.
Projects that Build a Stronger Online Presence
A strong online business is vital for keeping your small business alive and growing as we ride out the remainder of COVID-19. Here are some tips on building a stronger Web presence.
- Improve your homepage with some tips from the U.S. Small Business Administration. I’m in the process of updating mine!
- Improve your website’s Search Engine Optimization (SEO) by hiring a freelance SEO expert, who can assist you with link building, keyword research, website audits, and SEO content creation. I hired a freelancer to help me with this, and I’m glad I did — my website traffic has really seen a boost.
- Discover the benefits of building a chatbot. A chatbot could reduce labor cost, personalize the customer experience, and increase conversion rates.
- Build a better social media presence by identifying your target audience, engaging with your followers, and creating — and sticking to — a content schedule. I’ve learned that this is another great way to let your customers know you’re still hard at work and open to new business opportunities.
As you adapt your small business to COVID-19 and adjust to the new normal, these additional resources will help you to rebuild your business post-coronavirus — and plan a safe, healthy, and profitable reopening.
- Assistance Available to Small Businesses Shut Down by Coronavirus Outbreak
- 6 Ways to Rebuild Your Small Business After COVID-19
- Tips for Safely Reopening Your Business
- How to Increase Your Profits with Reduced Capacity
- Protect Your Assets and Simplify Your Taxes by Creating an LLC
It may seem impossible to grow a business in the midst of a recession, let alone one driven by a worldwide pandemic, but it won’t be if you’re proactive about adapting your business strategies — trust me, it’s worth the effort!
While it’s true that nobody really knows what the future of COVID-19 will look like, these tips and resources will help to prepare your small business for what’s to come — whether it’s reopening your physical location or continuing to serve your customers and clients online.
About the Author
Elena Stewart (elenastewart.com) is a certified life coach who specializes in the teachings of Brené Brown, Danielle LaPorte, and Marie Forleo. She successfully transitioned from the corporate world to running her own business, and now helps others achieve their career goals and dreams.
Financial strategy is all about setting financial goals, crafting a plan to reach them, and doing what's needed to start implementing that plan in both your business and personal life. This includes finding the best ideas, tips, and resources to grow your business despite any challenges and headwinds. If you'd like to learn what financial strategy can help you accomplish, email me and we'll coordinate a free, no-strings-attached phone call to explore that possibility.
This article is intended for informational purposes only, and should not be considered financial or legal advice. You should consult a relevant professional before making any major decisions.