Store success is a challenge during the Covid-19 pandemic, yet there is no shortage of successful entrepreneurs who have ventured in to help.
We as entrepreneurs who initiated, established, and run a closely held mission-driven organization, Boracchia Wiviott Wealth Partners, want to help you be more successful as entrepreneurs.
Amidst the busy schedules leading into Q4, our team got together to review the best tips for today’s COVID-19-inspired and re-inspired entrepreneurs. Here are the top four key steps today’s innovators must take to turn your store into a successful business for as long as possible.
- Determine whether your business development is addressing a long-term problem
- Identify your long-term market
- Proactively pivot, if you need to
- Map your plan of action
How to make your store succeed or fail during Covid-19
Your store success plan incorporates what business effect you are expecting during each phase of the COVID-19 crisis; as well as planning winning strategies for the phase you are in to yield the greatest potential effect for your business.
There is no silver bullet to any success. What works for one may not work for all. This is especially true regarding how to make your store succeed or fail during COVID-19.
So below we will help describe how you can safely succeed during the peak of COVID-19, and best practices for opening the store back up when the crisis has passed. Read on to get ideas for your action plan at all phases of reopening or lack thereof due to the covid 19 pandemic.
No doubt, Coronavirus is nerve-racking both professionally and individually. So, it’s important to be optimistic and keep your eyes on the prize. Here are a few things you can do to improve your business during this panic or period of depression. Get ready for the ideal time to open your store back up.
Enhance Your Online Store
At this moment, your store ideally is fully online. You’ve had ample time to work in your new store plan and the hope is that you were able to get your online shape, at least. This is a great time to take what is actually an ideal opportunity, your online business strategy, since there’s so many eyeballs shopping online. Amazon Prime Day, this past week, brought in double – yes you read this right, double what they made last year. People are spending during the pandemic, and we wrote about this too in pandemic purchasing a few months back. It is essential that you make any essential tweaks to your website. Lots of people are online looking for what you have to offer; so you want to ensure you are driving traffic.
Visits to your webpage are everything! Don’t worry about profits if you don’t have them yet in this phase. Just like anything else, online business has a cycle and incubation period for the market to get to know you. There is a perfect market ready to jump on your online store! Most importantly, keep at it!
The success of your online store will happen! There’s a niche for everything, even big foot tours gross thousands online monthly; everyone belongs online. So ensure you keep making the necessary changes to put your best foot forward no matter what. The success, or failure, of your online store counts on your continual innovation.
During the peak of the pandemic, make sure to keep up a strong digital presence, through your website and online store as well as through social media and email marketing, too.
Your clients more often than not cannot visit your store face to face. So proper communication can provide some help and distraction during a difficult time for many individuals.
This is likewise a great way to keep customers updated on your current business situation. So let them know what you’re doing to not only survive this crisis yet but maybe have given back to the community as well.
We need leaders during this time more than ever. You don’t know what covid 19 has taken from someone. In your communication be a pillar your community can count on. They want leaders to help pass the time productively. Don’t you?
The way of exploring the current situation is to be thoughtful and classy. You can still promote things from your store. However, make sure to do so in an empathetic way that shows your attention to the current crisis.
One thought is to promote gift vouchers to energize your customers for when they can safely return to the store and give them something to look forward to during what can be bleak times.
Another thought is to hold an online flash deal including things that could give your customers some joy at home.
At Boracchia Wiviott Wealth Partners we are providing what helps you continue to invest in your store success during the critical time of covid 19. Low barrier to entry high-quality financial subscriptions to know what stocks to buy right now as well as blogs on budgeting can be another thoughtful message to share with your friends and customers.
When your doors are closed, there is no perfect time for housekeeping and making up on all those ideas you’ve had for quite a long time or years. Keep occupied by continuing proper budgeting, promoting, and sanitizing or packing up things you no longer need. Purging is a great feeling, so is helping others have access to what they need and without your generosity, possibly couldn’t have.
While you have been thinking about redesigning your point of sale (POS), redo your business plan. Those who write down their goals are significantly more likely to achieve them. Even those who are established; you need to re-establish, right?
To ensure your success start by planning and writing out at least an outline, but the more detail the better. Plan early and plan often. This is the ideal time to do your exploration and pick a framework that has all the highlights your business needs now and in the future.
Get Ready to Re-Open your Physical Business Storefront
No matter how hard a hard time it is for a business or store during COVID-19, it will pass. Getting ready for opening your physical store back up can provide you with some inspiration and optimism, and an action plan for future success. Some planning ideas for reopening globally include:
Implement Store Pick Up
If you did any updating while your physical store was closed, make sure those new arrangements are completely set up. Get ready to test and retest every system.
Contact or do a test run of whichever ways you now will achieve Point Of Sale (POS). Whether the covid-19 success of your store or business takes phone calls, and/or uses software, and/or utilizes a hardware specialized support team. They all need to be optimized.
So if you have any issues during testing you can advance before opening time and proactively hit the ground running when you return to your grand entrance.
Keep Up New Practices
You’ve probably developed bunches of ideas, e-business offers, promotions, and staff training habits during COVID-19. At the point when your store reopens and life gets busier, don’t let those incredible habits tumble to the wayside. Keep in mind: it takes 7 times to retain 100% of what you’ve or your team, has learned.
Declare Your Reopening Success Will be Far and Wide
This is the moment every store owner is looking forward to announcing to your customers; and now that you are reopening physically and have a banging online presence, you can sell globally.
Maximize communicating to your clients and potential customers via website, social media, and email that you are opening back up for business, also consider having a “welcome back” sale. You don’t know where your store’s success or failures during covid-19 will take you and your business, this is ultimately unchartered territory. But by expanding your reach and constantly identifying growth and weak areas, you’ll be able to accurately declare your store’s reopening during covid 19 is successful far and wide. Very importantly, make sure to thank your valuable clients for standing by you during a difficult time.
This is your community, and so are we.
End-note to Reinvigorate Your Business Success During Covid 19 Reopenings
We are confident that these guidelines will help you in exploring the ongoing circumstances of store success or failure during COVID-19. However, there is a part of uncertainty to the crisis, it can and will pass, and we are pleased to support you during this time.
We offer a line of solutions and guidelines for your store’s success during this challenging time. As well we designed our reopening to align with clients’, potential clients, and team’ financial security and personal success, as well as mitigate the business effect caused by COVID-19.
Boracchia Wiviott Wealth Partners made a name for itself specializing in girls, women, and entrepreneurs around the world. Through helping to guid all our clients to success in any of their endeavors, we have helped unleash the power of the girl. Anyone can benefit from our unique skill set of private wealth management and empowering yourself investing. Anyone can sign up for our stock subscriptions today at investingprofits.pro or the hyperlink; or begin your investment guru financial planning course!
This article is brought to you courtesy of the innovative team behind Boracchia Wiviott Wealth Partners. Learn more about our cofounder, Lea by clicking the hyperlink. She and her high school sweetheart Marc are our founders, which in and of itself is a success story. The goal of Success Strivers is to provide accessibility in all wealth management strives and we have the experience to help underrepresented and represented communities alike.