With the country now at level one lockdown, there’s renewed hope that we might return to something resembling normal soon. For small businesses, the less strict level one lockdown regulations mean that economic activity will pick up again, which is a welcome relief. The pandemic forced businesses into survival mode and it might be difficult for some owners to shake off the financial setbacks that came with it.

 

But there’s no time to waste. If your business is going to turn survival into growth, you have to start working towards it now. While a fully reopened economy might feel like the way things were before the pandemic, it’s not. The market has changed and we have some quick tips to help you adjust to the new normal.

 

Refresh your marketing

Your first priority is to re-engage your existing clients and form a strategy for attracting new business. Perhaps your business was closed or you scaled back operations during the lockdown, so you have to let your audience know what they can expect from you at level one lockdown. You can even play around with the idea of running a grand reopening promotion. The point is to keep your brand top of mind and regain some of the market shares you might have lost.

The Covid-19 crisis has changed consumer behaviour so there are some important factors to take into consideration. Consumers are more conscious about the social impact organisations have and they’re starting to support more businesses that contribute to the greater good. People have also adjusted to buying most things they need online and getting it delivered to their homes. This is just scratching the surface of evolving consumer trends that your marketing strategy will have to take into account.

 

Rethink your old way of doing business

Working from home accelerated digital transformation across industries and some are still scrambling to keep up. What you need to do is to learn your lessons quickly and start applying them before your competitors do. Are there processes in your businesses that can be optimised? Do you need to reassess your entire value proposition? Now is the time to do so.

You should also strongly consider how necessary it is for your small business to keep its premises. Lockdown has shown that businesses can still operate with most, if not all, employees working from home. This should call into question whether renting corporate space on fixed terms is worth it. Perhaps a smaller office or a co-working space would make more business sense.

 

Reinvest in your digital  systems

The value of digital systems has become clear as more businesses join the remote working revolution. Inefficient systems will frustrate your staff, cost you time and eventually, money. It’s critical to take the time and research which systems will work best for your small business’s operations and which providers to align yourself with for maximum ROI.

For example, financial management can be time-consuming and overwhelming for small business owners to handle internally. By outsourcing to a specialist, not only will you have an expert to help you choose the best accounting software for your business, you will also have a professional to guide you through payroll and digital tax processing. Having the right tools and experienced advisers in your corner will be a key differentiator moving forward. 

To find out how Rae & Associates can help your business start growing, get in touch with us. And remember, you can still take part in our online courses from the comfort of your home.