Recession Proof Your Business

recession proof your business

The tsunami of problems caused by COVID-19 in 2020 continues to hurt brick-and-mortar businesses. For those of you who don’t know, these are businesses that operate solely from their physical presence, whether stores, offices, or showrooms.

In contrast, the only businesses that are thriving right now are the ones that are able to adapt and offer their products and services in a digital way.

According to experts, this is the only way to recession-proof your business in times when the economy is collapsing. It is all about making the changes you need so your business survives – and even thrives – in an economy that is getting worse.

What Should You Do (As A Small Business Owner) Right Now?

Counting your losses is a never-ending process, especially in times of a pandemic and lockdown.

We have all felt the devastating results related to sales and profits in 2020. If you have a brick-and-mortar business that is currently locked, the only thing you should focus on right now is making the most of the situation and adapting to the online trend.

Essentially, it means that you should level up and:

  • Create an online channel for sales
  • Be sure that you are marketing to your target audience
  • Monetize your expertise and create a clear strategy for success
  • Have financing in place to invest in your online business
  • Lead your team into a new profitable journey

Of course, all of this is easier said than done. However, at Devine Solutions Group, we like to think differently.

We are firm believers that every business can escape the current crisis. And when times get leaner and better, companies like these won’t lose anything. In fact, they will only gain an additional sales channel that can be leveraged to even greater success than their physical model.

In a nutshell, adapting means starting to think like a brick-and-click business (a business that has both physical and online presence). Or, an omnichannel presence that is best for keeping your cash flowing in any economy.

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If you are feeling stuck right now because of the lockdown, it’s time to see the action plan below and get ready to recession-proof your business.

So, How To Do It Right?

If you feel like reading more about this, there are many ways you can get started with. Our digital marketing experts at Devine Solutions Group can help you focus on your priorities. Below is a quick checklist that we’ve prepared – helping you see the ultimate benefit of an omnichannel strategy.

  • Take Control Of Your Cash Flow: First things first are investments. Make sure to decide what amount you are willing to spend right now into building your online business.
  • Build Multiple Revenue Streams: Things will get better. But until they do, you need to make the most of the current situation and build a sales channel that will serve your customers even when they are home. An online presence is the best way to do that and recession-proof your business.
  • Invest In Client Relationships: Client relationships are hard to maintain. So, the focus should primarily lie in your (best) current customers – and later switch to attracting new ones. But first, you need to educate your customers on how to use your services/buy your products online.
  • Create Value Around Your Business: You need to understand your business and whom you serve. Once you do this, it will be easier to attract new customers and keep them in the long run.
  • Offer Them Everything: Social media, online stores, customer support…There are many things to focus on if you want your business to thrive. The main goal is to create a deeper connection and make your customers willing to spend money in a recession.
  • Do It Now: The last step is to skip overthinking – and start learning more about how you could grow and transform your business from bricks to clicks.

Need help in redefining your online strategy?

Contact us today. Once we receive your inquiry, we will hop on a business call with you and discuss your priorities, budget and ways to set the bar higher and recession-proof your business.

Schedule an appointment on this page or call us at 833-933-8463!

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