If there is one thing we have discovered about ourselves over the last few months, it’s that out of the box thinking is what keeps a business going. I, like many small businesses, have been hit with unexpected side-effects of the pandemic, business has been difficult and times have been tough. If you are thinking about starting a small business or are trying to keep one going, here are some ways that you can inject some life back into it or help your business survive the toughest times.
Because we live in a world where money is needed to survive, Latte Lindsay runs a number of affiliate programmes and offers contributed or partnered content. If you choose to click the links and read the posts, the site may earn a commission or receives a payment. All of the opinions are my own. Opinions expressed here are the author’s alone, not those of any partner brands/company(s), beauty & lifestyle brands, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities unless specified.
Get social
We all know that everyone uses social media, even my granny has a Facebook account. Social media has the power to make or break a company. Don’t believe me? 20 years ago, your business would be nothing unless you listed it in the phone book. Now, you have to pay £10 for a BT phone book instead of getting the Yellow Pages delivered to your doorstep for free. In fact, the Yellow Pages stopped printing books in 2019 after the surge of social media left them obsolete. If this isn’t an example of how changing times and thinking ahead can help your business survive the toughest times, I don’t know what is!
Since March 2020, people are spending a lot of extra time online as a way to stay informed of what is happening. Having a social media page for your business is a must. Not only is it the most efficient way of keeping causal customers informed of any changes, but you can also advertise your products and services without needing a huge ad budget. You don’t even need a fancy website these days, my mum operates her crafting business completely online via her social media, and she is never short of orders.
Be prepared to go that extra mile
My business is pretty much all done online. As a general rule, I don’t have much to do with the sale of my book other than promoting the life out of it. My publisher takes care of orders and supplies to the shops. Even before the pandemic, I had to think outside the box when it came to getting my book to people. The thing is, because I write about military history, the people who like to read about it are somewhat older. They want to buy the book, but they can’t get to the shop or don’t trust the internet with their bank details. They do trust me.
When I get someone older wanting a book, I will take their address and they pay me in cash. Easy peasy for them. I put a signed copy of the book into the post using Cardboard Envelopes, and post it out to them. It’s that simple. And there is no reason why any small business can’t do this if you work with stock. I know people who are making fabric facemasks, stickers showing support for front line workers, and even locally created soap and sanitizer using the same delivery model.
Raise your ethics
I shouldn’t have to say this but I’m going to, crappy business practices are not an option these days. I’m going to give you a couple of examples of businesses being crushed and why they have been destroyed in a ball of flaming outrage. First up, Dollskill. The Instagram account posted some pretty stupid/horrible/tone-deaf stuff during the Black Lives Matter protests in America. However, long before this, the company was always being called out for stealing smaller artist’s work and being kinda racist but hiding behind the label of being “edgy”.
This is a very big example of a company thinking they are above the rules of ethics. And while the initial outrage of what has been posted online has died away and people are still shopping with them, this will keep coming back to bite them. Cancel culture has become the new way to call out and stop problematic behavior. When it comes to businesses, poor ethics can drive away your customer base and drive your profits into the ground.
There is a flip side to this, companies that are raising the bar with ethical standards. Over the last few years, thousands of businesses are improving their presence in the world, not because they have been told to, but because they want to make the world a better place. There are so many, however a few notable ones are Lush (they have always had great standards), Toms shoes (I remember when they launched and was blown away with the ethics of the company), and Stella McCartney (pricey but has always been a driving force for ethical high-end fashion, even back when fur was cool).
Have an online presence
Here is a fun fact, during the pandemic, when everything was shut during the lockdown, Primark reported that their monthly sales fell from £650million to zero. And why? Because they have no website to buy their stuff. Primark relies on in-store sales. I’ve seen reports of countless small businesses who rely on craft fairs or in-person sales, frizzle out because they don’t have access to their market. There have been countless posts on small business pages with people asking how to make the switch to online.
Although it might seem daunting to set up your online presence, it doesn’t need to be complicated. As I mentioned earlier, my mum uses a business Facebook profile to generate plenty of sales for her crafting company. I use this website to direct people to Amazon or my publisher so they can buy my book. A friend has recently set up an online shop to sell her handmade beauty products. Each business will have different needs, and every owner has their own skill level for dealing with technology. Find your comfort zone and make it work for you. If you want to open up a retail store, don’t be afraid to look into displays. Luminati have some great options available for you to choose from.
Have a backup plan
Not only should you have a backup plan, you need a backup of that backup, and a backup of that backup. Even better, roll out the backup plans when you don’t need them so they are a flawless part of your business when stuff does go sideways. This is called diversifying your income streams. For me, I have my book, my blog generates multiple cash flows, and I have the option of copywriting for other businesses too. If one isn’t performing well, I have other means of income to fall back on while I fix the issue and address any problems. If your business relies heavily on its technology, you should also have the most important apps and data backed up, ideally in a different location. Cloud storage can help massively here and, if you’re not too familiar with this, F5’s multi-cloud network architecture glossary could be a good place to start when it comes to learning about one of the cloud options out there. Whether it’s data or just what you are going to do to make money, a lot of people don’t make a backup plan because it is too much work and they would rather tick along with Plan A, and won’t consider Plan B until it’s too late.
I know I said this at the beginning but times have been tough for small businesses, but not impossible to survive. If you are a small business that is having trouble, reach out to other companies and people who may be able to help you by banding together, or even just getting some good advice.
Do you have a small business? How have you been doing during Covid-19? How did you help your business survive the toughest times? Let me know in the comment section how you have been handling your business over the last few months.