The Quarantined Business Owner's To-Do List
I’d like to begin this article by expressing my sympathy for you, especially if your business has been adversely affected by the COVID-19 outbreak. Everyone has been discomforted in some way. Some of us are working from home. Others are in quarantine.
Needless to say, we all share in the current state of limbo that this type of uncertainty creates. However, business owners are in quite a tight spot.
With that being said, the outbreak has a lot of people looking inward. And, in Scottsdale, Arizona where I live, there is not a mandatory quarantine. As a result, people are going on more runs & walks. I would say that such outcomes are positive.
Although there are a lot of negative outcomes that the outbreak has caused, why not use this time to proactively regroup. After all, the worst action is inaction.
Your business will resurface. When it does, you’ll be happy that you got some work done now, allowing yourself to come back stronger.
The rest of this article outlines a list of tasks that will help you regroup your business during this period of downtime.
1. Scan Your Business
The most important thing you can do for your business is to get your digital presence in order. That means making sure that your business is listed online with accurate & consistent information. If you don’t, then how can you expect consumers to find your business? They won’t. It’s a fact.
Use our free online scan tool to see how your business shows up online. You’ll get a snapshot of your digital presence & be able to identify growth opportunities.
2. Take A Look At Your Merchant Statement
Every business has to accept payments in some way. And if you are a cash-only business, then you are missing out on a huge group of potential customers. Unfortunately, the fact that you need to accept credit cards leaves you vulnerable to the nickel & diming that goes on in the payments industry.
It pains us to hear that most of our clients don’t even know the rates that they are being charged. Take a look at your merchant statement & make note of your rates as well as all of the unnecessary fees that you are being charged.
As a registered payment facilitator, we successfully cut out all of the third parties in traditional payment processing solutions. In doing so, we are able to offer lean, flat-rate pricing & zero hidden fees.
Set up a free account here. You can do so through our completely online portal. There is no time like the present to cut out of the unnecessary bulk in your payment solution.
3. Audit Your Marketing Mix
Create a list, csv, or flowchart of the current methods of marketing you implement. Were they successful? How much do they cost?
When we ask our clients what they are doing for marketing, we usually get three answers.
- “I don’t do anything for marketing.”
- “Tried Facebook, but it didn’t work.”
- “I have a guy that does my marketing.”
Each of these answers is equally concerning. However, I can tell you that doing something is better than doing nothing, there is such a thing as the optimum marketing channel for your business (Facebook does not work for everyone), & having “a guy” doesn’t ensure that your efforts are actually working.
Why not try something that allows you to conveniently communicate with your customers? For a limited time, we are offering free trial access to our very own text message marketing dashboard. Claim yours here.
4. Take A Look At Your Sales Reporting
While I am sure you take a look at your overall sales, have you ever taken a look at what services or products are more successful than others? Much like a car, a well-performing business needs someone to look under the hood to make sure everything is operating smoothly.
Such realizations provide opportunities for your business & let you know what your core competencies are. Once you’ve found what works, I say double down. Accentuate your core competencies in your marketing campaigns & sales strategies.
5. Plan Like Its Your Grand Opening
As I said in the introduction, your business will come back from all of this. Therefore, you should plan your re-opening like its your grand opening. Those who put in the work now will come out ahead in the long-run.
Take all of the information you’ve accumulated in previous steps & apply it into an actionable plan. Maybe an event is in order or a kick-off promotion.
Amid the coronavirus outbreak, we are offering free consultations to business owners who need some guidance during this period. Schedule yours here.
Whatever you decide, we are here to help you achieve your goals. We settle for nothing less & neither should you. Take a look at our client success stories to see for yourself.