There is no doubt COVID-19 has Affected the vast majority of businesses across Australia, particularly small businesses. So, how can your business survive and get back on its feet during this pandemic the world is suffering? There are three main steps you can easily complete in order to try and get your business up and running as we get through this crisis. Given the circumstances of the issues we are experiencing, it simply cannot fall back on you, it isn’t your fault your business had to shut its doors. It is a global pandemic, a global problem, therefore I can guarantee you that your business can re-surface.
The first step towards executing a business regrowth plan would be to not do it right away. Why you ask? Well it is simple, right now you are probably stressed just as everybody else. You have bills, rent, debts, etc. You are worried. So the first step is to get past this stage of panic so that evidently you can actually place all your focus towards getting back to routine. Exercise or meditation are great ways to release stress, calm your mind and clear your head. Once you have calmed down you can start thinking of a strategic plan for your business.
As mentioned before this is not your fault and you have had absolutely no control over your business shutting its doors or seeing a decrease in customers. The depression of your business is not up to you, and guess what? Everybody knows! Everybody understands! Because everyone across the whole world is suffering the same problem, therefore everyone understands your issues. As you may know there are many government benefits which have been put in place over the course of the last month because you can’t be expected to pay your bills normally when the government is shutting down both businesses and consumers.
To be honest, from a legal perspective, you are taking on risk if you don’t pay your bills. But if you can’t pay your bills or all your bills, then you can’t pay them. During this crisis, there is nothing dishonorable or unethical about not paying your bills if you can’t. It is possible that creditors could take legal action against you. But in most cases, the legal action is not going to begin quickly, especially at this time. Furthermore there has been an eviction ban put into place so that business owners who cannot afford rent at this time can still keep their stores open.
You can still maintain your employees. As the JobKeeper government grant comes through, if you are eligible you can still keep your staff and pay their wages. This is a huge boost towards your business as we all know everybody needs a hand from their staff, not everything can be done by you. So there you have it, the 2 main costs of running a business do not have to be paid by you at this time of world pandemic. If you think closely, this is a great opportunity for you to make a come back with a better company or business than before!
Now it is your turn to really think and realise, what can you do differently? How can you turn this around into an opportunity and grow your business further. What strategy can you put into place to re boost your business and receive great ROI. If you were not running a digital marketing campaign before the outbreak, you should definitely be doing that right now. AS the government is providing eligible businesses in most states around Australia with a banging $10,000 grant, you can use this to help your company. Think about it, everyone is at home, everyone is online, everyone is researching. In simple words, people are not going out to support or purchase from local businesses. Therefore while they are at home and search for a product or service, YOU WANT YOUR BUSINESS TO APPEAR! And you want to make sure they do not go ahead with your competitor. Digital marketing can truly boost and grow your business, particularly in a crisis period as such.