With the current state of our country and the world as a result of COVID-19, people everywhere have been strongly encouraged to work from home. As a small business owner, the impact of this epidemic may have you concerned about the future. However, we’re here to let you know that there are many positives that can come from this situation and these positives can lead to much success for your business in the long run. Keep reading to learn more about how to keep your business thriving and turn this situation into a positive for your career.
As a business owner, it’s likely you wear many hats within your organization. Whether you’ve got several employees working under you or you’re a one-man or woman show, your business is your livelihood and for that reason, you want to be at the forefront of every decision made and every task completed. In doing so, some items on your to-do list may get placed on the backburner or overlooked. While your business may have slowed down a bit, the slow down presents a perfect opportunity for you to re-evaluate your operations and throw a checkmark next to some of the tasks you’ve been neglecting.
What you choose to organize will be dependent on how long you’ve been in business. For example, if your online phone case company is fairly new, this is the perfect opportunity to get your finances in order. Establishing a business bank account, separate from your personal checking or savings, is an imperative part of keeping your finances organized. If you are handling your finances at a brick and mortar bank, now is the perfect time to make the switch to digital. Many banks offer an app for small business owners, allowing them to access their financial information from their mobile devices anywhere at any time. If you want this accessibility to remain consistent outside your business finances, consider signing up for a digital savings account to manage your personal finances as well!
In addition to finances, you may also want to focus attention on your workspace, cleaning up your email inbox, and any other miscellaneous tasks you’ve put off up until now.
Seek Out Growth Opportunities
Believe it or not, this temporary break or slow down in your business actually provides you with time to research potential growth opportunities. These additions can range from simple day-to-day changes to larger-scale adjustments within your organization. One of the simplest ways to grow your business is by getting to know your customers. Although they’ve already purchased a phone case or another product from you, reaching out to learn more about them can help to ensure their wants and needs are met in the future.
Another great method to bring about growth is the proper use of social media. Platforms such as Facebook, Twitter, and Instagram can be great tools to share the latest news within your business. These platforms are also great vessels for you to share promotions or sales you’re having as well as a place for your customers to write reviews. Even though you run an online business, the idea of setting up social profiles can be intimidating. If this is the case, there are plenty of professionals out there willing to lend a hand. Although their hard work is associated with a fee, you must remember this is an investment and will pay off when it comes to your long-term goals.
If you’re thinking these ideas, and others you may think of along the way, sound great, but you’re concerned about your financial abilities during this period, you may want to look into a small business loan. There are many types out there and the right one for you and your business is dependent on various factors. For example, if you’ve been running your cell phone case business for a while now and you consider yourself established, you can seek out a small business loan to expand your business. If you’re a bit greener to the world of selling cell phone cases but you’re eager to grow your business, you may want to explore your options through the bank or credit union you handle your finances through or seek out private investors.
Give Back to Your Community
During this tough time, it may be hard to remember that the reason your business is thriving is mostly due to your community. As an online shop owner, you may not have a physical community, but you do have a group of people out there who have helped you get where you are today. There are a number of ways you can give back as a symbol of your appreciation and dedication. Some ideas include volunteering at a local school providing meals for students currently out of school, donating your products to those in need, or simply sharing your space by promoting other small business owners’ companies on your social platforms or website.
No amount of effort put in is too big or small, and now more than ever, it’s necessary to band together and support one another. While the donation of your time should come with no expectation of recognition, it’s possible that others may notice that you’re supporting a cause and as a result, be more inclined to do business with you in the future!
Working from home to keep your online cell phone case business thriving during these tough times can at some points feel discouraging. It’s important to keep in mind that as a business owner, there will be ups and downs and hurdles and victories, but at the end of the day, making the best of the situation at hand and maintaining a positive outlook is what will keep you going each day. Make the most of this time and invest it back into your business and you’re sure to come out of this better than ever!