Running a business and achieving business success can be challenging in normal times. But during a pandemic, everything you thought you knew has probably gone out the window. A move to more digital business practices, less face-to-face interaction, and an obsession with touchless everything means your brand needs to change to keep up.
Check out these ten tips from Studio Z on achieving business success, so your company can ride out the pandemic – and come out stronger on the other side.
Organize Your Business Model
While business is slow (or closed altogether), it’s an excellent time to start tackling all the items on your organizational to-do list.
- Seek expert help aligning your finances with your business goals.
- Tackle all the administrative tasks you’ve been avoiding – like forming an LLC.
- Consider returning to school for a formal education – less than half of business owners have a degree.
Address Financial Barriers
A cash-strapped business has lower chances of surviving a closure, no matter how short the shutdown. Address financial barriers with these money moves.
- Find creative ways to cut costs and reduce the expenses in your daily operations.
- Look into tax relief and other disaster financial assistance for your business.
- Determine whether having full-time staff or freelancers is more affordable for your company model.
Take a More Dynamic Approach
If your business was same-old, same-old pre-pandemic, think about taking a more dynamic approach to your working model.
- Try innovative ideas for adapting to the coronavirus economy.
- Embrace new – and virtual – trends like photo booths through Studio Z.
- Get active in new ways, like live-streaming events and centering your efforts on social media.
- Explore pandemic pivots like experiential marketing and strategic
Helping your business survive the coronavirus economy sounds like a tall order. But there are plenty of strategies for preserving and even growing your company during the shutdown – and these ten tips are a solid start.
Looking for creative ways to make your online and in-person (socially-distanced) events more fun? Check out Studio Z for the latest and greatest photo booth tech for every type of event.