Covid-19 has brought serious challenges to businesses in South Africa and the world. South Africa entered 21 days lockdown on Thursday 26 March 2020, which was further extended with two weeks as covid-19 pandemic continued to spread across the country. Lockdown meant that not only freedom of movement is limited, but businesses are also forced to temporarily close.
Temporarily Closing businesses has had a huge financial impact on small and med-sized enterprises. This includes loss of income, jobs and customers. Impacts of lockdown and corona virus pandemic are well documented, my goal today is to help you stay motivated and be prepared to bounce back from this difficult time.
1. DO NOT GIVE UP
The most obvious yet very important is to not give up. You are not the only one affected by lockdown. Many businesses were affected by lockdown. Giving up will only increase your frustrations and lead to business closure and further financial distress.
2. KEEP IN TOUCH WITH YOUR CUSTOMERS
Customer are like flowers, they need to be taken good care of and checked on regularly. A simple SMS or email to your customers wishing them well during this difficult time will go a long way in strengthening your relationship with them. Assure your customers that you are there for them and their businesses. Leaving your customers wondering could be key to ending your business relationship.
3. LOOK FOR OPPORTUNITIES
Crisis is not always always bad, although this could be an exemption. Government announced relief measures for businesses, it is your responsibility as a business owner to scrutinize these opportunities. Available funds such as Youth Micro Enterprise Relief Fund are available to help your business.
4. OFFER YOUR PRODUCT AND SERVICES TO PREVIOUS CUSTOMERS
Your previous customers know your product and services, they believe in you that is why they were your customer at some point. Have a conversation with them, understand their position and their needs. DO NOT rush to sell without understanding their needs as this will probably chase them away for good.
5. OFFER DISCOUNTS AND TRIALS
We all love freebies, don't we? Now more than ever is your opportunity to entice your customers by showing that you are the best in what you do. Offer them discounted rates, get now pay later options and freebies whenever possible. It is very important to have a clear plan on how to effect this to ensure your business benefits in a long run. Be clear, transparent and fair to your customers.
