Survival or failure?
Entrepreneurs spend valuable time and resources building their dreams. Many people put everything they have into a business or company and without warning it can all come to a hault.
In March of 2020 almost all small businesses stopped dead in their tracks due to a worldwide pandemic. Unless a company provides essential services; all doors were closed for what seemed like a decade. Even essential companies were hit with a reduction in services.
So, how do entrepreneurs recover?
If you have your business finances and principles in order, it may not be very difficult to jump right back in. Chances are if you struggled before the pandemic, you likely won't be able to regain footing in the market. Thankfully the government and other organizations have provided some resources to small businesses that will keep them from closing down.
So it's back to business as usual or is it? Things may look different after months of closures and no cash flow. Some possible options could be:
Run a sale or promotion to get the attention of consumers.
Offer current customers a reward for staying/coming back to you.
Increase your marketing budget for a short period of time.
Take this opportunity to reevaluate what you were doing well before and tap into that.
No matter what route you take, if you made it through to keep going then things can only get better from here.