10 Ways you can keep your business going in tough times

Being a business owner is all fun and games until it’s not.

Times are tough for a lot of businesses out there in a post-pandemic world. The news is full of negative stories, tales of hardship and woes while businesses and stores all around us seem to be closing down.

But before you rush out and panic, there is so much good news out there, and so many good things happening. New businesses are opening and more jobs are being created.

Here are 10 tips to help you keep your business going in tough times

We have created a list of great ways you can keep your business going through any tough time without sacrificing your sanity.

Don’t sweat the small stuff

When everything seems to be going to custard, it can be hard not to get weighed down by the details. Keep your head up and maintain your view of the bigger picture. How much will these small things matter in a few months’ time?

Don’t cut corners

Just to save a few bucks and compromise the quality of the product or your service.

Shop around

Loyalty can feel noble, but in tough times, supporting suppliers out of loyalty isn’t going to help you pay your bills. Negotiate, but put your bottom line front and centre.

Cut back on the packaging

But don’t cut back on the product.

Ask your customers what they think

Run polls, send newsletters, and reach out on social media. Ask your customers what they want and ask for regular feedback.

Don’t stop marketing

Too many business owners see marketing spend as an expense, rather than an investment. The minute times get tough, they reach into the marketing budget and cut it off. The temperature change in inquiries, purchases and bookings can be felt almost immediately.

Check everything

What is your browsing experience like on your website? Can your customers easily find what they are looking for? Are people able to find you quickly and easily online? Do your customers know about all the other products and services you offer? Is there a tree or shrub that is blocking your business sign from the road? Does your office need a new plant or carpet? Is your reception area looking sad and dull? Are all of your payment options working online?

Offer add-ons

Add-ons are a great way to increase the value for your customers and also increase the average value of every invoice going out.

Lock in loyalty

Offer regular customers a price freeze or lock-in deals for them for future bookings. You can keep money coming in the door and your customers can save a few bucks down the track.

Find out what your competitors are doing

Sign up for their newsletters, check their websites, see what they are offering and figure out how you can do it better.

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