Finding Success in the Post-Pandemic World: Tips for Small Business Owners
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Finding Success in the Post-Pandemic World
Countless small business owners have struggled to make business decisions during and after the COVID-19 pandemic, and many entrepreneurs running gyms and bars are just now able to operate. Despite these setbacks, you don’t have to give up on your business. It’s even possible to grow your customer base during this trying time! By following these tips from Nicole & Carly, you’ll be able to determine your next steps and feel optimistic about your company’s future.
Your Administrative To-Do List
For a leader in business, there are always time-consuming administrative duties to complete, and the case for outsourcing these tasks is a good one. But if you’re off to a slow start as business ramps up, maybe it’s time to take care of some of these items yourself.
This is the perfect time for a digital decluttering session -- you can block off a few hours to organize your files!
If your home office is messy, create a cleaning schedule to tidy it up within a week.
Need to prepare your financial documents for tax season? Schedule an appointment with an accountant who works with small business owners.
Gain business benefits like limited liability and extra tax breaks by registering as a limited liability company (LLC). An LLC offers operational flexibility and the combined advantages of a limited company and a partnership.
Automate your administrative tasks and run your books from your phone. With an automated payroll app like QuickBooks Payroll mobile app, you’re able to manage and complete all the aspects of this tedious task from your smartphone or laptop. This includes paying for taxes, creating reminders, and running reports.
Reducing Business Expenses
Even if sales are down, you can boost your cash flow by cutting any unnecessary spending. This may be anything from cutting down on travel to turning off the lights in unused areas of your operation.
Before you begin making changes to your budget, meet with a financial consultant who has the right credentials.
If your team has been working remotely, you may want to consider ending or renegotiating the commercial lease for your office or retail space.
Consider other cost-cutting initiatives, like finding budget-friendly suppliers and automating certain tasks.
Prepare for Company Growth
Now’s the perfect time to grow your company. To bring in more business, you’ll need to consider how you can meet your customers’ needs in the moment.
Your customers may not be out shopping, but they are doing business online! Working with a digital marketing pro to develop a mobile app will allow them to patronize your business virtually.
Implementing a new social media marketing strategy can get your products and services in front of new eyes.
From improving your remote team management skills to revamping your website, research all you can about adapting your business to current challenges.
It’s easy to view our post-pandemic world as an obstacle, but for quick-thinking entrepreneurs, it can also be an opportunity. You can find new ways to reduce spending and reach your customers online! By following these tips, you can succeed even when it feels like the odds are stacked against your business.
