COVID changed how we do business and how we operate. We’re entering into this new phase now when businesses are slowly reopening. The world is at a point where a large group of people is just over it. They are over being at home, the quarantine, not going to their jobs, over the places being closed. And then other people that are like, “Those people are crazy. I am staying at home”. What is it like for you as a business owner and entrepreneur? JT Foxx reviews how businesses are going to grow during and after COVID-19. JT Foxx is the author of the successful book Business Lessons.
JT Foxx reviews ways to grow your business post-COVID.
We’ve got to realize, it’s not just snapping back to what it was before COVID. JT Foxx reviews ways to adjust and adapt your business for more growth and success.
One of the biggest things right now is – you have to have an online sale strategy. If you sell a product of any kind, you need to have a way to sell it online. This is becoming a huge thing. More and more people want to order something versus going to the store to get it. Some places were closed for three months and even longer. You couldn’t go anywhere. Everything was closed. During that time, we got very used to ordering online and things being delivered to us. Whether you needed a new yoga mat or groceries, it was delivered to you.
More and more people are getting into that habit and routine of ordering online. That’s a significant shift that we need to be looking at the commerce as a whole. You need to break down and look at what your audience is doing, where they are buying, and how they are buying. You need to put a straightforward process in place where people can sign up and pay money online. How user-friendly is your website? How easy is it for someone to engage with you? How easy is it for someone to ask questions? How easy is it for someone to make a purchase? Are you giving them the things they want?
An example of adapting your business is a restaurant nearby. They were doing happy hour takeaway specials during isolation time. Now they are open again, and they are still offering happy hour on to go. They noticed that they are full at happy hour and still getting the takeaway orders. They found a way to take their happy hour business and double it from what it was because they enabled people to order takeaway.
Now is also the time to re-strategize and focus on whatever you’ve been doing in your industry in the last three months. At some point, you probably went into survival mode. You need to shift gears again and re-evaluate and say what is it strategically, what do I need to do, where do my cluster customers want to see me, where I need to show up, where I need to be.
We also need to pay attention to reach new people, a new target group. Not new customers perse, but new business. How we are generating new leads, how are we making new connections? Do you have a strategy where you spend time each day looking for new potential customers, looking for new people to partner with, maybe looking for opportunities for businesses that aren’t doing that well? There are many websites with companies listed for sale. You can go on brokers’ websites and look by the industry what businesses are for sale –marketing companies, dry cleaners, nail or hair salons.
Many businesses are for sale right now, so that might be one way to look at how you could actually work with someone or potentially drive new partnerships or strategic relationships.
Even if you can’t reopen their business, they might have customers or clients that now you could fulfill. Or if you’re struggling and can’t get your employees back, you can refer your clients over to them, and these businesses will give you a percentage for the leads.
It would be best to look at what types of partnerships and relationships you can start to grow. Ask yourself, who are those relationships that can help us get more customers and clients?
Re-evaluate your team
Now is also a good time to revaluate your team. You may have laid off some people on your team. You may have furloughed some people on your team, you may not have done anything with anyone on your team and continue your business as usual. But now it’s time to re-evaluate. Now is a great time to ask yourself, “do I have the right people in the right places doing the right things.” Maybe you downsized, then you may need to re-evaluate the positions you need to bring back. Do you have everything running correctly? Where are the responsibilities, and do I have to shift those to get the things done?
Some people are still not back to work yet; some businesses have not opened back up yet; some companies have laid off many people. There is a big pool of talent available, and now is a good time to acquire some of that talent or find out what key role, key position, or critical person might be missing. Create the perfect team. Create the right dynamic around the team that you need.
If it’s all you, JT foxx reviews that now might be a good time to find out who is the right person to bring in to help you grow, or expand, or increase a particular part of your business.
Maybe you still have too many people even though you got rid of some, and you think you could get rid of one or two more people? Ask yourself, is this or that person’s being a hundred percent productive with their time? From people’s perspective, there is going to be a shift, looking at how businesses are operating as far as working remotely. Some people do not know if they feel safe going back into an office and work after months of working from home—more and more people are working remotely. And people are more willing to work remotely and be more productive. In saying that, maybe you don’t need someone locally. Maybe you can search a little further to acquire talent from somewhere else. That person doesn’t need to relocate and can work remotely for you.
There are going to be different interests in the marketplace moving forward, for example, in real estate.
JT Foxx initially made his first millions doing real estate. That’s where he really started. And he had much success in real estate and is still always involved in real estate deals.
There are always ways to find deals in real estate and ways to make money as long as you understand the market, what is going on, and how it is shifting. There’s always a way to make money in real estate anytime we go through any dip in the economy. This is probably a small dip, and everything might go back up, but the truth is, nobody really knows. If you look at the stock market, we’re doing better than we ever have. People are still buying homes. Anytime unemployment goes up is when people look for alternatives ways to make money. And real estate always becomes a popular thing for people to look into when unemployment goes up.
JT Foxx reviews more strategies to improve your business here.
If you want to learn more about branding, one my clients wrote her success story here.