How is the COVID-19 crisis affecting your business?
We're all experiencing a shift in business operations right now; for better or worse. Right now, for many of us, it's not the easiest time.
Let's take this opportunity to come together and help one another where we can.
Where is your business at right now? How has your business been affected? Do you have any tips to share for getting through this period?
Meant to add - Focus on coming back strong when this is all over :)
currently I am not affected but rather seeing increase in business as I am a tax agent / acountant / advisor to the micro and sme market. I have been very proactive with putting together updates, advice and strategies for my clients with the primary focus on cash flows and getting clients over the coming 6 months to keep them alive. I am also about to roll out a Covid19 strategy plan for my clients which will look at the three Rs, being Right Size (saving costs), Reposition and Redesign. Let me know if you would like a copy of the Covid19 Survival Guide I have put together with several other consultants and the best email address to send this to
Our onsite services have been suspended due to the virus. Our other services which do not require face to face or onsite analysis are continuing. I've been doing lots of Zoom meetings and found it easy to use.
During this time of crisis I'd suggest businesses use the time to consider forward strategies, key right now is to protect your business from closure, then find ways to pivot ie utulise the downturn time for staff online training, retooling, upgrading premises, reviewing policies, practices etc in the business., and prepare for the rebound coming later in the year to come
The Aust Govt has some resources here. https://www.australia.gov.au/
You can register for the Victorian Survival package at this link.
Stay safe out there.
As an owner of two ecommerce stores one being in the beauty industry and one being in the food industry I have seen two ends of the scale. On one side with the closure of the beauty industry and people staying in doors there is no doubt a drop in online beauty purchases. I put this down to two key points. First people are going to be indoors more and spend less time out and socialising, so the need for makeup will be far less. Secondly given the current situation and the uncertainty around job security and finances, people will be saving their money for the necessities. I really think it has made people think where they will spend their money.
On the other side I also own a restaurant chain and we also manufacturer our own pastas and sauces , frozen and delivered to your doorstep. As super market shelves remain empty our online sales for our frozen pastas has gone through the roof. It didn’t just happen we have actually put some thought into as the opportunity arose however it has taken off a lot faster than anything we have seen before. No doubt people are rethinking the way they purchase and directing their money to what is more essential.
For those people who's businesses have been affected by the Australian bushfires, Covid-19 and the floods here are some tips to help you:
- develop your marketing strategy, and look at your brand positioning, your ideal client, your messaging. Because of the climate we are in, these things may have changed drastically.
- do a stocktake of your products/services, and see what your top sellers have been, what your top sellers are now, and what changes you need to make. Are there services/products that people would really benefit from right now.
- look at what online and offline channels you will use as part of your marketing plan (based on who you are targetting and where they 'hang' out). Include dates, channels and think about the resources available to you.
- start implementing the new strategy and plan. No time like the present, update your website, social media and other on and offline channels.
Having found that my work teaching tarot classes in Sydney has not stopped I've started focusing on offering my services by phone or online. Naturally, almost all businesses are contracting but we have to do what we can to try and adapt until things get back to normality.
In times of trouble or strife, our business increases. With the Stay at Home requirements of Covid, it is critical to assure your work is backed up securely for resiliance and business continuity. Our systems are available from anywhere you work. Office, home or a park bench, securing your data is critical.
Most of my digital activities are continuing, but the ones that require a physical presence, such as videography and TV media training, are on hold for now.
I've taken out a Zoom subscription so I can more easily hold video meetings with people. It does have a positive impact actually seeing other people's faces, rather than just audio calls or text/email.
My tip is to (safely) get out of the house for walk while we still can. Even a walk around the block can give you some headspace back.
I haven't personally seen a great deal of challenge but I know several of my VA members have and yet others are flat out. I think it really very much depends on which industries they are servicing. Those doing medical transcriptions are flat out! But those supporting the events industries - their work has dried up.
I have 3 main clients I look after - one had gone quiet but I've encouraged him to get messages out for his industry and how it affects arborists currently. So he's done that and I got the newsletter out yesterday. Another NFP I look after is still busy promoting causes and I manage their Social Media for them. A third I keep his website and events running - he runs a bushcraft course for small numbers. To date, he hasn't yet been affected. I have another client, who is adhoc - she's decided she wants to revamp her website so I'm waiting on the content to do that for her. So I still have work happening, some of my VAs do. We're not getting as many client requests as we normally do but I honestly think much of the business world is in shock at the moment, and readjusting, and once their heads come up for air, I'm sure more work will come too.
It's an interesting time but we are actually doing ok. Most jobs we are getting enquiries on are website developments and revamps. It seems people are looking deeper into their online presence and they are actually seeking for professionals to help them.
Some of my client-facing clients have let go of our retainer but right now, one-off website enquiries are keeping our phones and chatbox busy.
I know if we treat them well, these websites are going to need our main service which is SEO down the track. So I think we are creating a moat around us with this ongoing work.
We have also created a Digital Bunker where we are helping our current clients with small services and tactics.
All in all, this time around will leave a lot to be desired but we are yet to see the flattening of the curve.
Currently I haven't experienced any change to my business because I already ran it purely online. There's a lot of uncertainty out there, however the businesses who can still operate are madly adapting to the online space. I'm doing what I can to share tips on running services online.
I published a blog earlier this week with my recommended tech platforms for services businesses to hold meetings, consults, workshops and even sell service packages online. It may help, it took me a long time to work out the best tech to use and these ones I use in my own busienss mostly have free or low-cost packages to get started with.
We lost ~ 60-70% of business in the first month of COVID-19 restrictions to hospitality businesses. We're very fortunate to have some clients that aren't strictly venues and therefore could operate as normal or for example an audio and tech brand who has scaled during this time because everyone wanted to purchase their products in preparation for the lockdown. We've also picked up work during this time and with the subsidies available for small to medium-sized businesses, we've been able to pay staff their normal salaries and have a 6-month financial and business plan that will allow us to stay afloat and potentially even grow.
As an accountant and tax agent, I am busy with ensuring my knowledge is up to date, and advising clients. My business specialises in tradies, and I've found some are really busy whilst others are quiet. I'm helping them and other businesses with info, calls and zoom meetings, and also have a Business Continuity Plan available for $250 (worth $399) https://spitfireaccountingsolutions.lpages.co/business-continuity-plan/
Thanks everyone - link to @Steve Wilson 's blog mentioned above here...