Instead of going into the details of how COVID19 are negatively affecting businesses here are some suggestions of how to alter your business to adapt to this global pandemic.
- Reduce unnecessary costs – this is probably a given and every business is different but as the owner you should be aware of non-essential costs. Right now this could look like transportation costs.
- Can you transfer your operations online or virtual? As a goods and services business can you sell your products online?
- Map out the new activities that your demographic is doing and support their demands. Most people are now doing the same things (sitting at home and wanting interaction). Can you angle your business services or products to meet those needs?
These are very basic suggestions, and again highly dependent on the nature of your business. If you are still operational it may be a blessing!
Message me if you need a sounding board to discuss your options to keep your small business afloat.