#5ways Covid-19... we know you're sick of hearing about it and we don't blame you. It's been very stressful and it's likely one of the most impactful things that will ever happen to your business. If you are one of the thousands of businesses who have been affected, how can you use this as an opportunity to grow stronger? Let's find out...
1. Change things up
If you've seen a huge hit in your profits, consider if there is a hidden opportunity here? Rather than doing the same thing and expecting different results, is there a way for your business to pivot and adapt to the new Covid-19 landscape?
Top tips:
Change working arrangements! If they haven't been already, can members of your staff work from home, saving on their commute and on expensive office space ?
Diversify! Are there other services or products you can add to your range to reach untapped parts of the market? Are there ways to change your business to cater to these different needs?
2. Strengthen your relationship with your team
It's easy to focus on the difficulties and challenges you have had to face as an employer, but your employees have had challenges around the pandemic too. We recommend checking in with them to strengthen your bond. After all, when you show that care about people in times of need they are far more likely to stay loyal to you and work hard to help your business succeed.
Top tip:
Schedule time to share your pandemic struggles with your team. Ask them how they have been coping and see if there are ways you can help each other
3. Open the 'too hard basket'
Remember all of those things you wanted to put in place in your business but never got around to implementing? Maybe now is the time. If Covid means that business is slow or your employees are at a loose end, use time wisely to streamline processes so that your business is firing on all cylinders.
Top tips:
Update your policies and HR documents! Contracts, health and safety policies and inductions should be reviewed regularly. Are yours up to date?
Invest in some training! Are there processes that your staff need to know more about? Can your team up skill each other in industry knowledge? Is your health and safety policy up to date and is everyone trained?
4. Refine your systems
Have you ever had the nagging feeling that there are better or easier ways to do things, but have never had the time to investigate it fully? If only there was a time when things were slow that you could dedicate to looking into this. Wait a second... how about right now?
Top tip:
If things are slow for you, why not talk with your team and come up with ideas on how you can do things better! What frustrates them about their jobs? What frustrates you? How can you do away with as many of those frustrations as possible?
5. Reach out to other employers
Chances are, if you are doing it tough, many other business owners and employers are feeling the same way.
Top tip:
Network, network, network! You will feel supported, understood and make friends that might be able to help you out, or that you can help. And best of all, you might end up discovering new networks that can help develop business relationships that will help your company in the future.
In conclusion... you're not alone.
Many business owners are doing it tough right now. Give yourself some credit - you've hung in there and are still fighting the good fight. By looking for ways to use this rollercoaster pandemic to your business' advantage, not only will you benefit your bottom line but you will feel more productive and in control.
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