Over the past months, many businesses have had to re-invent their operations, marketing, and systems after their recovery; others have, unfortunately, had to shut down. Unquestionably, the ongoing pandemic has taken a toll on the economy, exposing many businesses to considerable risk.
The potential of COVID-19 cases accelerating in growth worldwide becomes ever more concerning. New regulations may stifle and, more unpalatably, inhibit your business’s growth and progress, as well as access to leads, resources, and opportunities.
Brick-and-mortar businesses may be particularly sensitive to the ramifications of COVID-19: Migration to a digital format, coupled with potential staffing challenges, can erect barriers to survival. Additional challenges may include:
- reduced traffic to locations, products, goods, and services;
- higher costs to continue operations;
- changes to capacity and/or other physical regulations and restrictions;
- reduced morale;
- and decreased chances of accessing (sufficient) governmental support
We hear your concerns—and we can help.
Here are 3 solutions we believe can help you, in the face of these trying times, direct your business towards a more optimal, sustainable position for survival and growth:
1. Focus on cash flow
Immerse your team’s efforts in keeping your business at a healthy stage for growth by:
a) Discovering new ways to sell
Explore digital channels on which your business has yet to establish your brand. Broaden your outreach, and integrate new marketing approaches that resonate with new audiences. Analyze and evaluate the platforms’ performances to determine which channels are meeting your goals, and invest efforts in top-performing channels to quickly foster your community of customers. These channels can include TikTok, Amazon, Instagram, and others that may suit your business.
b) Strengthening crowd loyalty
Your customers and prospects form your crowd for your business. This crowd you have built is an asset—and a rich source of leads you can tap into. Demonstrate a strong sense of appeal and value through your messaging, and continue to nurture the relationships your business has with your customers by:
- delivering curated products and services that matter to them
- cultivating feelings of genuine connection
- staying relevant, timely, and distinct
- communicating a clear value-add
2. Automate your systems
Automating your business’s operational systems can reduce costs, time investment, and human resources e.g. staffing. For example, if you are looking to keep your clients connected to your business, we recommend implementing an automated system of email drip campaigns.
We would recommend exploring numerous easy-to-use, effective platforms (for email drip campaigns) like Mailchimp, Constant Contact, and ClickFunnels, just to name a few. Some may require a nominal monthly fee—or may even be free—depending on your usage. Let us show you how new systems can keep your brand top of mind while expanding your resource capacity.
3. Get expert help
When you feel you are stretched to your limits and wearing too many hats, you may lose out on opportunities. Stress impacts not only your own health, but also your business’s progress and long-term sustainability.
One way to overcome this challenge is to define your major gaps and needs. In many cases, a fractional CFO or functional consultant can make a significant difference. At CrowdfundSuite, our expertise can help you gain clarity and momentum, optimize your strategy, generate the results your business seeks, and fulfill your team’s needs. We will guide you through, to name just a few:
- developing a robust business strategy
- planning and executing venture capital strategies for growth
- deploying effective, authentic marketing tactics
- accelerating your business’s lead acquisition
- building and leveraging your crowd and support base
- elevating your brand equity
- securing your business operations and systems
- navigating available government programs
Our team at CrowdfundSuite has over 55 years of collective expertise making a positive impact on organizations around the world. We have helped raise over $50M USD in capital and have guided companies to implement and manage significant change, overcome barriers, and exceed forecasted growth.
Book a free consultation with us by requesting a quote—today.