How Your Small Business Can Adapt and Grow Through the COVID-19 Crisis

by Elena Stewart

If you pay much attention to the news, the forecast for small businesses going through the COVID-19 crisis seems to be all gloom and doom, at first glance. But when you take a closer look, there are lots of small businesses that are adapting to the challenges they’ve been thrown. They’re doing this successfully, partly because they’re being creative, and partly because they’re taking advantage of the resources that exist to help small businesses. One of the best things we can all do right now is learn from each other, which is why we’ve provided some of our favorite ideas that have worked for others.

The first thing any business should do is explore their options. Seek out sources of financial assistance because that influx of cash can make a huge difference. Then think creatively about how you can reach customers, keep clients, and even grow.

  •  Start by creating a “survival plan” to address immediate needs and find options for financial assistance.
  • Do you have products sold primarily through a brick-and-mortar store? Consider offering a subscription box to keep customers supplied safely.
  • Connect with freelance marketing professionals who can help you create engaging new materials.
  • Social media is perfect for staying active through networking, live video sales, and more.

Any small business obviously relies on their clients or customers, but your team of employees are essential, too. These are some of the main ways you can look out for them right now, while transitioning to a productive new way of doing business from a distance.

  • If you have a team that needs to work from home, try one of these remote work solutions that are free during the COVID-19 crisis.
  • Make a smooth transition to remote work by equipping your team with training, policies, and support, like these tips to improve collaboration.
  • At the same time, equip yourself with resources for managing a remote team.
  • You can also make the experience safer and more productive for everyone by following best practices for your work from home policies.
  • Some small businesses are finding unique ways to support employees and their community.
  • Work with Laurel and Associates to help strengthen managerial and employee development, as well as improve your team’s technical skills.

Of course, every business is unique, and some are in a better position than others to make the most of this economic climate. But we think that many small businesses can get through this as long as they’re open to new ideas. With the right tools and some creative thinking, there’s no limit to the new possibilities you can find.

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