Depending on the type of business that you run and the industry that you are in, the last couple of years could have provided a much-needed boost to your growth or been a complete disaster. Around the world, the COVID19 pandemic has provided mixed experiences to business owners, with some faced with rapid growth and expansion and others forced to close their doors temporarily.
Many online retail businesses and companies that provide services to online businesses have boomed massively since the beginning of the pandemic, with online products and services becoming increasingly more popular as countries went into lockdowns to prevent the spread of the novel coronavirus. No matter what your experience with COVID19 and your business has been like, here are some tips that you can take through to 2022 to boost your business further.
Improve Your Business Knowledge and Skills
If you’ve been left with some spare time on your hands as a result of the pandemic or are considering starting from scratch with a new business idea, online learning is a great way to get a more solid business foundation when it comes to your education, providing you with the skills and knowledge that are necessary for you to take your business to the next level. Degree programs such as the online DBA from Aston University have made it easier than ever for business owners to learn new skills and improve their expertise as they run their own business. You can apply what you learn to your business as you go along, using your newfound knowledge to make better business decisions and prevent future catastrophes for your company.
Improve Your Online Presence
If you have not already invested in a better online presence for your business, there’s never been a better time than the present to do this. Over the past couple of years, more and more businesses have been forced to pivot towards online operations, with companies that had been reluctant to focus more heavily on the online side of their business left in a position where it was their only choice if they wanted to survive the pandemic. Company owners that ran mainly face-to-face businesses have had to come up with a range of new and creative ideas to keep their customers happy and keep their businesses going throughout the COVID19 crisis. With online business undoubtedly the future, building your online presence is something that you should work at regularly improving.
Put a Disaster Recovery Plan in Place
If there’s one thing that the COVID19 pandemic taught business owners, it is just how important it is to make sure that they are prepared for anything to go wrong. While most of us certainly hope that the next worldwide crisis won’t happen again for this generation, it’s important to always be prepared for the unexpected to happen when you are running your own business. A disaster can strike a business at any point; it doesn’t always have to be a global pandemic for it to have a devastating effect. From data breaches to another worldwide crisis, it’s never been more important than it is right now to think of every possible thing that could go wrong and make sure that your business has a solid plan in place to deal with it effectively in the future.
If your business has been impacted positively by the COVID19 crisis and has thrived throughout the pandemic due to offering a service or product that experienced high demand during 2020 and 2021, the option of going global with your business might be worth thinking about. Taking your business into a different country can be a daunting prospect, but it’s definitely worth the effort to expand your audience and improve stability for your company by diversifying your customer base.
Build Your Professional Network
Over the past couple of years, may business owners would have struggled to keep their company afloat without the support, help, and advice of their professional business network. Professionals from around the world have been helping one another throughout the crisis and even competitors have been working together to provide the best experiences for their customers in uncertain and frightening times. From other business owners who can offer support, advice, or services that your business can use to your connections on LinkedIn who can help get you more work or recommend your company to others, building your professional network is an important way to make sure that you have more access to the best resources no matter what you need while you are working towards business growth.
Pivot Your Business
If you’re in the group of business owners that didn’t get very lucky with the COVID19 pandemic, pivoting your business model might be worth considering for you to achieve more success. While in the UK, restrictions have largely been lifted when it comes to COVID and life is beginning to get back to normal, the truth is that things could change again – particularly during the winter – and many people are still reluctant to start acting like the pandemic is over, as there are still infections and deaths on a regular basis. Pivoting your business and considering what you can do to reach all of your customers and continue offering products and services in a way that they can easily access even if there is another lockdown this winter can help your business survive in this stage of the pandemic.
Understand the Market Changes
The sad truth is that continuing to run your business in the same way that you did before the pandemic is not going to work for a lot of business owners today. The COVID19 crisis has had a huge impact on the market, changing customer expectations and providing new demand for products that people might not have had much need for beforehand. Understanding how the market has changed and adapting to these changes is crucial for success in the new post-COVID world.
No matter how the novel coronavirus impacted your business, these strategies can help you achieve better growth and success as we continue to battle the pandemic.