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When Things Get Slow

Most small business owners dream about vacations, for things to slow down, or just a break from their busy lives in general.  Well, this may not be how you pictured it to go but if COVID-19 is impacting your business, now might be a great time to take a pause. One man tweeted, “I’ve been working IN my business since it started, now is a great time to start working ON my business.” That’s a wise man. Here are ways you can work ON your business.

 

  • Research – When was the last time you poked around to see what your competitors were up to? Have you taken a recent look at what they are offering that is attracting new customers or maybe even attracting some of your customers? What about products and services? How’s the competitive landscape there? Are there new products on the market that have features your, similar product doesn’t? Do your competitors offer up a better warranty, better communication, a better experience than you and could it be time for you to enhance or upgrade? Lastly, who are your customers? When was the last time you studied the top 20% of your business, you know the ones who are actually the most responsible for keeping you afloat according to the good ole’ 80/20 rule? What demographic and psychographic features do they share and how will you use that in your marketing strategy?

 

  • Strategy – Speaking of marketing strategy, when was the last time you visited your strategy? Maybe you don’t even have one, you just make day-to-day decisions based on circumstances at that time. (We call that living paycheck to paycheck.) If your strategy game is strong how about your analytics and tracking? When was the last time you checked in on your strategies performance and its ability to achieve your objectives?

 

  • Creative – My guess is over the years your website might not have been updated, your logo got outdated, your marketing collateral started to take on a whole new look and feel and thus you lost some brand consistency. Creativity takes time and as busy as you are, you’ve probably been rushing just to get things out the door or posted to social media without putting time and attention into how you were really positioning your brand.

 

Now, go to Vira Creative’s home page, or grab our business card, or visit some social media posts because you’ll see these three things listed as areas in which we excel. Let’s take some time to work “on” your business.

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Vira Creative, IL 60451

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