Tips for Entrepreneurial Survival During a Pandemic
The current pandemic caused by the COVID-19 virus is affecting everyone all over the world. Small businesses and entrepreneurs, in particular, are having difficulty as they navigate these new, difficult times. As the leader of an eight-year-old small business, Sarah Scala Consulting, I have a few tips that have helped me keep my small business afloat during this unprecedented business climate.
Here are a few tips for keeping your small business successful, profitable, and relevant during COVID-19:
Keep in touch with your clients. Even though they may not be at a place today to book projects or hire you for your services, staying connected and top of mind is important for when things improve. You can do this by sending personal emails every now and then, or having timely content in your newsletter. One thing that I have done is promote my short YouTube videos or blogs that focus on positive psychology, optimism, resilience, and grit.
Be consistent with posting on social media. Your audience and clients are already there and it will help to keep your business top of mind when things turn around. I do this by sharing my own blogs and articles, videos, and sharing other relevant articles from Harvard Business Review on LinkedIn, Twitter, and Medium. It is also important to share things that are not work-related every now and then that help share the human side of your life. I have done this through blogs and articles on bike commuting and kayaking.
Offer services that are available remotely or virtually. I have done this through moving all my keynote speaking to virtual delivery, providing leadership development workshops virtually, and continuing to offer both executive and team coaching virtually. In addition, I have designed new digital courses on topics that I get the most demand or request for. These are on current and relevant topics that my clients appreciate having the ability to learn in a way that doesn't require in-person delivery.
Write blogs and original content that is relevant to the current times of COVID-19. With writing blogs, it is important to have consistency with how often you write so that your audience can expect when to hear from you.
Host or be featured on podcasts focused on timely topics that you have expertise in. You could also start your own podcast that is either just you or features other people who you interview.
Pivot your business or services. If your services will not be in demand in the new normal, think about how you can pivot your business to meet new needs of clients. Innovation often comes during tough times.
Spend less money right now on things that are not critical to your business. Being an entrepreneur and a small business owner, it's important to have an emergency fund for both your personal and business life that can help you stay afloat when sales are lower. However, if you have extra money right now in your business, it is a great time to invest, as many competitors may not be not investing or spending.
Keep your learning sharp. With so many ways to build skills that are free or inexpensive, I suggest Coursera and EdX for digital courses from top colleges and universities, podcasts, books (often available digitally through your local library), and webinars by thought leaders.
Mindfulness and Gratitude. Practicing gratitude and showing appreciation helps to keep your mind sharp during tough times. Thanking those who have helped and supported you, whether clients, family, your network, or friends is always important, especially now.
What suggestions can you share with entrepreneurs about how to keep their business functioning during this pandemic? Comment below.
About the Author:
Sarah Scala is a senior talent management leader and executive coach with 20+ years of experience providing organization development, change management, and leadership development solutions for diverse global and local industries. She is a collaborative consultant, coach, and educator supporting performance transformation of executives, leaders, and teams. Sarah is a methodical, results-driven leader recognized for helping clients reach their highest potential, increase revenue, reduce turnover, elevate business profitability, build competencies, and improve performance.
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