Entrepreneurs face worrisome challenges even during the best of times. Unfortunately, the unprecedented COVID-19 pandemic has created more complications than ever. In May, 2% of businesses had already shut down forever. Another survey found that 12% of companies would be forced to close indefinitely if the pandemic continues to worsen.
The pandemic was showing signs of easing up earlier this summer, which made many people feel encouraged about the direction of the economy. Unfortunately, new data suggests that the pandemic might be plunging into a second phase as cases mount.
Testing data showed that the United States had its worst case count day ever on June 24. Although the case counts vary considerably by region, there is a growing concern that things will just keep getting worse.
This is very discouraging for business owners across the country. They are going to have to get creative and find new ways to cope with the growing pandemic. Fortunately, the following steps can make a big difference for businesses during COVID-19.
Boldly advertise efforts to keep customers safe
Simply following state imposed social distancing measures is not going to be enough on its own. You need to also convince customers that you are doing everything you can to make them safe. This is one of the human side strategies you can take during the pandemic.
You need to be very vocal about the steps you have taken to ensure the safety of your customers, such as using social distancing stickers. Even if you are doing the bare minimum, you can still convince many customers to visit your business if you market your efforts carefully. You can try sharing the steps that you have taken on Facebook, your website and storefront.
Keep up to date on announcements of possible stimulus rounds
The federal government passed the largest stimulus package in history around the time that social distancing requirements were first enacted. This was an important lifeline for many businesses that were forced to shut down to avoid massive financial fallout.
There are rumors that a second round of stimulus funding might be available to businesses. You will need to pay close attention, because this money will go fast if you don’t apply in time.
Be acutely aware of social distancing requirements
Regulators in every jurisdiction are passing stricter social distancing measures. It is very important for every business owner to be up to speed on these policies. Fines and other penalties can be severe if you don’t abide by them.
Some policies take business owners by surprise. For example, the Governor of Texas recently implemented a measure requiring everybody to wear masks in public. Most people didn’t expect he would do this, so business owners that were not following the news might not have responded in time.
Offer products that help people with the pandemic
You shouldn’t just try to respond to the pandemic. If possible, you should try offering products or services that help people through it. This is a market opportunity that you can’t afford to ignore. If you sell any type of health product, then you should emphasize its benefits during the pandemic. If you sell technology products, then you can tell people how they can help with social distancing.
Find distribution models that minimize customer interaction
There are many different ways that you can encourage people to purchase your products. You might be able to distribute them through curbside pick-up, even if that is not typically part of your business model. Try to find ways to sell products without having people come into contact with each other.
