It’s fair to say right now that life as a business owner pretty much sucks. There is so much uncertainty out there in the world that you don’t know if you should pause or close your business altogether. With so much ambiguity, you need to rethink how your business operates on a day to day basis. Right now, it’s all about embracing change in the world of business and surviving these tough times. Just because the economy is taking a hit, doesn’t mean that you can do amazing things with your company. Consider these ways to pivot rather than pause your business during these tough times.
Reassess Your Rates and Reduce Your Costs
Now is the perfect time to sit down and assess your finances. Reducing your costs is a great place to start, especially if you’re working in eCommerce right now. See UPS international shipping rates here and make some decisions as to how you can reduce your shipping costs. You may also want to reassess the prices of your products or services. A significant hike in prices might not go down well, but if you add value your clients will be more willing to pay more.
Do Something Charitable
When the economy is suffering and your clients are worried about money, this is not the time to go in for a hard sale. What would be helpful is a charitable gesture that gets people talking. Start a free mini challenge as a mood booster or offer a freebie to your current clients.
Work on Your Website
If you find yourself quiet on the client front, then now is the perfect time to work on your website. Those small tasks that you keep putting off the need to be done right now. There are so many ways in which you can improve your company website so that you can hit the ground running as soon as you’re ready to re-launch. Altering your copywriting, changing your color scheme and making sure there are no glitches will help your website to look more professional and polished to your target audience.
Pressing pause on your business right now could be damaging, so make sure you remain present. Now is not the time to crawl under a rock and never be seen again by your clients. More than ever you need to show up on social media, interact with your clients and lift people’s spirits. As soon as the tough times blow over you will be at the forefront of their minds.
The worst thing you could do right now is give up altogether with your business. There are so many amazing opportunities out there just waiting to be embraced. If you haven’t found a way to pivot your business yet, then this is the way to catapult your business to another level. You don’t have to go through this slump just because the corporate world is suffering. People need small businesses more than ever right now, so it’s your job to show up and serve your clients in a new and innovative way.