We all know the stats around how likely your business is to survive its first year, so if you’re beyond that now, congratulations. However, that celebration might have been short-lived, because we’re now all neck-deep in a global pandemic.
Whether you’ve got your employees working from home, or you’ve been forced to shut down, for the time being, you might be feeling a little bit anxious and concerned about what the future looks like for your business in Arizona. If this is the case, don’t worry – we’re here to talk about it. Let’s take a look at keeping your Arizona business alive during COVID.
1. Protect Those Finances
One of the first things to usually go in hard times is your business’s cash flow, so there’s a good chance that you’re bringing in a lot less right now due to circumstances outside of your control. One of the best ways to make sure that your Arizona business survives COVID is to keep on top of those finances.
You might not have enough in personal savings to bolster your business for the time being and keep that cash flow up. If this is the case, you can always consider a personal or title loan to hold you over temporarily. Just look up ‘title loans AZ‘ on Google, and find your nearest lender.
2. Don’t Just Do Nothing
We’re all caught up in the current circumstances, and while they might be hard, we might also feel like we have no choice but to do nothing at this point. However, if you do nothing, you’re only setting your Arizona business up for failure.
Doing nothing means that you’re getting closer and closer to having to shut your business. However, if you use this time to be proactive and think outside the box, you could end up not only keeping your business afloat but bringing in new ways of making revenue. Either work on finding new clients, or keep your existing customer base loyal and happy.
3. Consider Trying Social Media Marketing
When was the last time that you updated your business’s website or Facebook page? You might not even have a Facebook page for your business, and there’s nothing wrong with this. However, there’s never been a better time than right now to make the most of people staying at home.
When people are forced to stay home and inside, they’re more likely to spend time online. This is why it’s a great time to consider social media marketing to boost your business and expand your customer base. Take a look at Facebook ad options, and see how they can cater to your business.
4. Network and Collaborate
A burden shared is a burden halved, as they say, and while you might be feeling like a bit of an island right now, you’re definitely not the only business in trouble. Make the most of the community spirit at this time, and network with other businesses in your area.
Whether it’s doing a joint promotion or raffle or sharing business information for another company so that they do the same for yours, there are a lot of ways that working with other local businesses in Arizona right now can help get you through.
It feels like our current circumstances are never going to get any better. However, this season will soon pass, and what you do with your business now might make the difference between whether you make it to the next one or not.