Growing your business in tough times

It seems like 2020 has decided to make things difficult for everyone and small business owners are among the hardest hit when it comes to short, medium, and long term effects. Experts are predicting every kind of bad scenario; recessions, unemployment, business closures, and reduction in consumer spending power. With all of this going on, it can be really difficult to see how you can keep your business afloat, never mind think about growing it.

However, there are methods that every business owner can implement right now to give themselves the best chance of surviving, and dare I say it, expanding in these times. If you can focus on making the best use of your time, if you can connect with your customers, and if you can keep your head when all about you are losing theirs*, you may just come through this time in a better position than you were in before.

Making use of your time

Perhaps your business is closed or on reduced hours at the moment, or you are open but the footfall is low and you are finding yourself with nothing to do. This time can be either wasted looking out the window or used productively. It is easy to just wait and see, expecting things to change. This approach will leave you feeling powerless and make it even less likely that things will actually change.

Instead, look at what you can do to make things better. Create a physical to-do list for each day and work on that list while not busy. Doing this will not only mean your days are productive but will give you a sense of empowerment and confidence that can only be positive.

Things to put on the to-do list

Clean up the premises
Reorganize the warehouse/office
Create a “bargain basement” area and get some old stock moving
Highlight your items which are most in-demand at the moment
Look at your premises’ exterior and see what can be improved such as clean-up, repaint, new signage, etc.
Learn something new by reading some blogs, taking an online course or getting some books to help
Anything that you have previously put off due to lack of time

Connect with customers

Yes, if you are social distancing this can be a difficult thing to do but perhaps now is the time to establish a social media presence for your business. When times are tough, people tend to prioritize supporting the small businesses they know and like. Get active on Facebook, Instagram, and others and create a page for the business. It is easy to get sucked into time-wasting on these so be diligent; allow 20-30 minutes per day and make your time goal-oriented. This is a simple template for using your social media time wisely:

Check for messages, comments, and new followers – 5 mins.
Message new followers and thank them – consider giving them a discount voucher as an unseen “special” reward. This can encourage them to actually become a customer rather than just a follower – 5 mins
Create one interesting post with a graphic or video and make it RELEVANT to the LOCAL area. This can be related to your business but should not be promotional. – 10 mins
Every third day, create a promotional post in addition to your standard posts. Keep it simple, include an image, and limit the time it’s available to 2-3 days. This encourages people to follow your page, so they can get your special offers when they come up. – 10 mins

By following the template, you will see slow but real growth in your social media reach where you are connecting with people. Be sure to respond promptly to messages and be conversational and friendly as if they were standing in front of you, asking the same question.

Some useful links and excellent reading for small business owners:

Keep your head

If by Rudyard Kipling

If you can keep your head when all about you

Are losing theirs and blaming it on you,

If you can trust yourself when all men doubt you,

But make allowance for their doubting too;

If you can wait and not be tired by waiting,

Or being lied about, don’t deal in lies,

Or being hated, don’t give way to hating,

And yet don’t look too good, nor talk too wise:

If you can dream—and not make dreams your master;

If you can think—and not make thoughts your aim;

If you can meet with Triumph and Disaster

And treat those two impostors just the same;

If you can bear to hear the truth you’ve spoken

Twisted by knaves to make a trap for fools,

Or watch the things you gave your life to, broken,

And stoop and build ’em up with worn-out tools:

If you can make one heap of all your winnings

And risk it on one turn of pitch-and-toss,

And lose, and start again at your beginnings

And never breathe a word about your loss;

If you can force your heart and nerve and sinew

To serve your turn long after they are gone,

And so hold on when there is nothing in you

Except the Will which says to them: ‘Hold on!’

If you can talk with crowds and keep your virtue,

Or walk with Kings—nor lose the common touch,

If neither foes nor loving friends can hurt you,

If all men count with you, but none too much;

If you can fill the unforgiving minute

With sixty seconds’ worth of distance run,

Yours is the Earth and everything that’s in it,

And—which is more—you’ll be a Man, my son!