Rebuilding a small business after Covid-19 won’t be easy. That’s something you have to be ready to face. There are certain steps you can take to make sure this comeback goes s bit more smoothly. We’re here to walk you through that process.
Prepare Your Comeback
First of all, you need to plan your comeback. Make sure to not burn any bridges and let your regular customers know that you will be back soon. Inform your customers that your business has been affected by the current situation and ask them to have a little patience while you work on coming back. Assure them that you are working on your comeback. It’s important that you ty to maintain your reputation even while you’re business is experiencing some lows.
Stay In Touch With Your Team
Whether you keep working with the same employees or end up having to hire some new ones, you need to stay in constant touch with all of them. Make sure you have an employee handbook template on hand. That will make your job a lot easier. Also, in case you have to make any layoffs, do it as kindly and politely as possible. Everyone is going through a rough patch right now and you need to be there for your employees. Offer them a nice letter of recommendation as well as a decent severance fee.
Customers and Salespeople
The two most important statistics of your business should be focusing on if you want to achieve a better profit. You need to be familiar with the numbers and statistics of your sales and the profit you make. Out of 40% of your profit is made up of only 8% of your customers. Plus, only about 80% of all your sales are made by roughly 20% of your salespeople. Keep these numbers in mind for your comeback.
Focus on the Core Task
What you also need to focus on are your core tasks. In most cases, these are your networking and sales. Your goal should be to focus on the essential tasks and let the professionals handle the rest. That way you can make sure that everything runs as smoothly as possible. For example, you can find a company that can provide professional 3PL services (third-party logistics). That way, you can focus on doing what you do best and let the professionals handle the statistics for you.
Do Some Improvements
The key to success even during this hard time is to make constant improvements. No matter what you do, you need to make sure you are taking your customers’ feedback into account. See what works and what doesn’t. You need to aim to provide the best possible service your customers could ask for. After all, the point is to cater to what they need. Not only will this make your customers more satisfied with your company, but you will also most likely attract a lot of new customers too.
Go Strong on Your Marketing
Marketing, in all of its forms is extremely important for every business. You need to start thinking about how you are going to promote your business. A lot of companies decide to use some of the most effective SEO strategies in order to bring more customers to their website.
Social media can’t be left out either. Nowadays everyone is on Instagram, Twitter, Facebook, and other social media platforms. Use that to your own advantage. See how you can best reach your customers and offer them the best deal they can find. Also, being active on social media can help improve your business online presence a lot and your customers will have a way to contact you.
Tell a Story
You need to create a brand and a story behind it. Once you make your comeback people will need to put their trust and loyalty into what you do. Make your company relatable for them. Be present and talk about the issues people are facing by sharing your experience as well. Make your customers identify with you. Tell a story of all the challenges and obstacles your company has faced and overcome. Make sure you can maintain and offer a new perspective and make people believe in what you do.
It Won’t Be Easy
Lastly, you need to be able to manage your expectations. It’s not going to be easy to come back just like that. You need to be ready to face challenges and obstacles. We live in extremely unpredictable times and you can never count on having absolute stability. So just be prepared to adapt to any possible changes.
In conclusion, if you know how to efficiently handle your finances, hire professionals to handle the statistics and make sure you are true to your customers, you are ready to make your comeback. Good luck!