Business

How to speed up the recovery of your trade business post-coronavirus

  • 30 Apr 2020

Have you got a business and are worried how it will survive post-coronavirus? While some businesses have thrived during the pandemic, most have struggled to keep their doors open; for businesses that have taken a hit, below are some great ways to speed up its recovery once things return to something resembling normality.

Be wary of cutting costs

It might seem like the logical thing to start cutting costs in the business when things start to return to normal. However, doing this could actually have the opposite effect.

Once the lockdown ends, it is imperative businesses focuses on growth and this will be difficult without the right amount of funds.

The things people won’t want to cut back on for example, include marketing and equipment. Ensure a business is well advertised and there is equipment in for when jobs come in again. such as a range of a range of boilers which customers will be looking to have fixed before winter comes back around. However, money can be saved by outsourcing and striking up better deals with suppliers. 

Adjust your business plan

There is no getting away from the fact that life after the coronavirus pandemic won’t be the same. Therefore, adjustments will have to be made to business plans to account for the new way of working. 

Just some of the things to consider include embracing new sales channels and looking at long term investments. It is also a good idea for a business to think about how the pandemic affected its customers.

How can they be helped now that business is returning to usual? Businesses can work out how services and products can be re-positioned to address new customer issues.

Take advantage of social media

While the business may not be open right now, that does not mean it cannot remain firmly in its customers’ minds. Social media is a great tool, allowing a business to continue marketing itself, while also engaging with customers.

Many businesses are utilising social media right now. Tradespeople can create free guides which help to solve common customer problems. Continuing to operate on social media means a business will remain in its customers’ minds, ready for when things start to get back to normal. 

These are some of the main steps to take to speed up the recovery of a trade business. While the pandemic has caused a lot of worry for tradespeople, it can also provide unique opportunities to focus on growing the business after the lockdown has ended.

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