COVID-19 Will Continue To Test Small Businesses—Here’s How To Respond

Almost every business, regardless of size, has had to make adjustments to cope with the new realities accompanying the pandemic. The near-universal pivot to remote work, government-mandated stay-at-home orders, and ongoing health concerns have created a business environment that looks, for all intents and purposes, dramatically different than it did just months ago. Yet this is exactly the type of environment in which entrepreneurs thrive.

Your creativity, willingness to embrace risk, and ability to spot opportunity where others can’t are what allowed you to start a business in the first place, and those same attributes will serve you well as you seek ways to adapt in the months and years ahead. Your business may be struggling now, but by relying on the traits and instincts that got you to this point, you can keep moving forward. Plus, there are plenty of proven strategies you can deploy to continue to create value, even when your resources are stretched thin. Here are five:

1. Refine your marketing strategy and increase your focus on digital tactics.

If the pandemic has taught us anything, it’s that we’re more reliant than ever on modern technology. Even if you’re not positioned to make substantial investments in new tools, you should constantly evaluate the digital strategies and technologies you already use, and now is the perfect time to do so in preparation for “the next normal.” Owen Loft, cofounder of Socium Media, recommends that companies take this time to optimize what’s working and explore new ideas.