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Is your women-owned business suffering due to the coronavirus outbreak? Just, like most businesses you’re probably looking for ways that you can adapt to the current unforeseen situation, and help to keep your business afloat.
Women business entrepreneurs, in particular, have been greatly affected economically by the COVID-19 pandemic, and have been forced to constantly adapt to the changing tides.
From laying off staff, to not being able to get loan approval, managing childcare, and juggle work life balance, woman entrepreneurs today are having to navigate the negative effects of COVID-19.
In this post, we’ll share five ways women-owned businesses can stay ahead during the COVID-19 outbreak:
Focus on the Future
As many businesses focus on the “here and now” this could be your opportunity to build a new network of prospective customers. Taking the time to generate fresh leads now will ensure you have a list of potential clients to reach out to when things start to get back to normalcy.
Adapt to Get Ahead
Social distancing has made it difficult to do business conventionally. Now is the time to get creative and brainstorm how you can still deliver your products and services and get in front of corporations and prospects. For example, you could focus more on online marketing, and reach out to businesses using text and video messaging instead of handing out flyers and brochures.
Plan to Stay Relevant
It’s important to not only plan how you’re going to survive as a business in the midst of this pandemic, but also have a plan and strategy in place for what will happen months down the line. It wouldn’t be wise to simply assume that once the threat has passed, everything will be back to where it was before this all began.
Implement Tech Upgrades
When working from home, it’s essential to keep communication flowing with your staff and your clients. Simply getting on a phone call or chatting may not be enough to manage and keep track of daily business operations, especially with home-life distractions. You may consider using online project management tools and communication platforms to better manage and streamline business processes.
Use Alternative Solutions
Covid-19 is bound to disrupt many aspects of your business such as staffing, networking, marketing, business related travel and supply chains. Although business plans such as events and trips may be cancelled, this is a good opportunity to look for alternative solutions such as attending a virtual conference to showcase your products and services to potential corporate buyers.