Spring is here. It is a time of renewal and nurturing in both nature and in business. While many people are staying inside to manage the challenges posed by the coronavirus, businesses are finding new ways to thrive by revising their plans to generate revenue in our current climate.
Embrace the Online Business Model
As guidance is in place for people to self-quarantine, businesses are rethinking how they operate. Retailers, grocery stores, and even restaurants are still filling orders, but they are doing it online. If your business has held off on making the transition to e-commerce, now is the time to act. Having an online storefront allows your business to continue meeting the demands of customers and provides an alternate stream of revenue. By leveraging social media for marketing and engaging with people directly, a small business can increase its bottom line and thrive.
Rethinking the Office
Not every business can make the switch, but for those that can, shifting to a virtual office has its benefits. First and foremost, having remote employees helps to ensure their safety and wellbeing, and greatly reduces their exposure to viruses and other illnesses. Second, a remote workforce allows your business to maintain productivity and even expand operating hours if need be. For those businesses that cannot make the virtual leap, staggering employees to minimize contact and the number of people in a group may prolong certain processes, but orders will still be filled and operations can move forward.
“Necessity is the mother of invention,” and our current needs are forcing businesses to think in new and creative ways. Processes that might have worked up until now need to be reconfigured to generate revenue and allow workers to perform their jobs. Marketing needs to shift to resonate with people who are living and working at home instead of going outside. There is no such thing as “business as usual” right now, but with a little brainstorming or creativity sessions, you will be able to find new ways to operate and grow your customer base.
Nanaki Capital provides working capital solutions for small businesses in all industries. If you’re business needs financing in order to more easily adapt to the current climate, contact Nanaki Capital today.