In a few weeks, the year 2020 would be rested. “Good riddance!” That’d be the comment of many small business owners who came into the year with high hopes and strategic plans, but no idea of what 2020 had in mind!
From the beginning, COVID-19 turned the world on its head and ushered in the ‘new normal’ as a cocktail of economic and political turmoil even in Nigeria got pockets bleeding and living almost brutish. #EndSARS protests across the country signaled a re-awakening but unfortunately detoured into the loss of lives, barely-bridled looting and mindless destruction of properties.
Indeed, 2020 has been packed with too much for one year!
Nonetheless, no matter how the year may have been for you and your business, it is time to look ahead. While you may be unable to prepare for everything, these few tips can help you put your best foot forward as you get set to step into the all-new 2021:
- Do a holistic review of year 2020
Your business might not be where you thought it would be by now. But looking back through the year is germane to helping you identify what worked and what didn’t as well as what you could have done differently. Do a SWOT (Strength, Weakness, Opportunity and Threat) analysis to identify areas where your business is faring fine or struggling and plan the exact steps you must take to improve. Remember: write down your plans.
- Ask your customers for feedback
You need to understand how your customers feel about your products and/or services. A little survey can help them give you feedback on what they think you can do better. You can use tools like SurveyMonkey and Google Forms or even draft specific questions on which you could call them to ask for answers. Whatever option you choose, it will help you improve on your customer service and align your business offerings to meet customer needs.
- Leverage social media for improved visibility
One of the simplest yet important rules of marketing is: Go where your customers are. You must determine the social media platforms where you can best connect with your target audience and curate content that focus on them and their needs. Start with a content calendar to create a structure, post relevant content consistently, promote key content to reach a wider audience and gradually create top-of-mind awareness for your business.
If one can take a thousand, two will take ten thousand! Collaborate. Identify other businesses that provide propositions which you need but cannot immediately provide, team up and keep your customers coming back.
- Insure your business
Whether large, small or micro, businesses are at a greater risk if they do not insure their intellectual and physical assets. It is never a waste of money to have insurance cover. Find the right insurance firm, learn of their packages and get started.
- Grow your business with Paylink
With Paylink, you can present your customers with a one-stop shop to express interest in your products and services displayed on the PayStore and pay you easily with up to 8 payment channels (debit card, bank account, internet banking, USSD, phone number, e-wallet, bank branch, Remita profile). You as a business can request payments with a customised links and e-invoices and also track your income. Get started: sign up or sign in.
- Consider remote work
If there is anything 2020 has taught us, it is that the typical 9-5 every day routine is no longer sustainable. The realities of the COVID-19 pandemic have further made remote work appealing. Consider implementing remote work policy in the best way that suits your organisation – you may combine remote and on-site work to give your staff flexibility. With remote working, you can cut infrastructure cost, reduce staff commuting time, increase collaboration in the workplace and enhance productivity.
Similarly, explore tech solutions that can help you track, measure and reward employee performance daily, weekly, monthly, quarterly, half-yearly and annually. We recommend HumanManager.
We could go on and on with the list, but we advise that you start with these. It is crucial that you plan for your business growth and sustenance in 2021. As you stay optimistic that it would be a better year, ensure you prepare as much as possible.
At Paylink, you have our love always!