Rolling With the Punches – Adapting Your Business for the Times
This year has kept us all on our toes. It is at times like these that we realize the importance of an adaptable business. Perhaps you own a restaurant in California, and due to the Coronavirus pandemic, you were forced to offer take-out only, then you were allowed to reopen, only to once again have to close your dining room. How are you supposed to handle all of these changes? Keep reading to discover some tips and tricks to help you adapt your business for the times!
Put Good Out There and it Will Return To You
Do what you can to help others. Everyone is struggling right now, and if you can, in any way, help others, they will surely help you in return if you ever need it. Your business might be thriving today, but tomorrow could be a different story. Be adaptable and help others who are less fortunate.
It’s completely normal not to understand everything going on right now. Just because you are a CEO, doesn’t mean you know everything. It is better to ask questions than to move forward with a decision that you are unsure of. The last thing you want to do is go against your local government orders and have your business face serious consequences.
Offer Lower Prices
Let’s face it; people don’t have as high of a budget right now as usual. Everyone is struggling. So, rather than having no customers due to your high prices, it is better to offer a lower rate to keep sales going; this is a mutually beneficial solution.
Move to an Online Platform as Much as Possible
With people staying at home, an online platform is the best solution for everyone. Sell products online, offer online classes, and make yourself available; this may be easier for certain industries than others, but there are always solutions for any industry. If you are a doctor or plastic surgeon, offer virtual consultations and telehealth to minimize in-office visits. If you are a hairstylist, offer online tutorials or take-home hair care kits to help your clients who cannot book with you.
Don’t Become Married to an Idea
As long as we remain flexible during difficult times, things will be easier. Something that works today might not work tomorrow, and we must learn to accept that. Sure your store doesn’t look the way it used to, and perhaps you miss seeing your customers in person, but that could change within an instant. Remain flexible and roll with the punches as much as possible.
During times like these, it is essential to remain flexible and adapt your business model. Have any other advice or tips? Share them with us in the comments below.