Many entrepreneurs and small businesses suffered more than most at the hands of the COVID-19 pandemic and subsequent lockdowns. The government has helped big companies and those employed in furlough schemes, but entrepreneurs and small business owners were often left without grants or much governmental assistance. It was time for them to do what entrepreneurs are supposed to do and adapt and change in the face of adversity. Here is how some entrepreneurs thrived during the COVID-19 lockdowns.
Switching to Free Tools
Using free-to-use tools online instead of paying expensive designers has saved entrepreneurs a bucket load of money across the two lockdowns. They have been able to save money and spend what they have on advertising and other ways of improving their business. They have used sites like:
This is a brilliant site where you can create a logo completely free of charge and use it for your business.
Here is a site where you can design a multitude of great business posters and adverts, with hundreds of useful templates to choose from.
A royalty-free image site.
An online eCommerce site where you can create a shop for free.
Supporting Each Other
By creating communities and support networks with other businesses, entrepreneurs have changed the face of business. It has become a much more inclusive and friendly environment, which we hope stays!
Entrepreneurs have moved their businesses online to gain access to the biggest market. This has become a global trend.
Creative Stock List
As the virus gripped our society, policy makers came out with “Essential and Non-Essential” groups which dictates if you could work or stay open for business. Many quick-thinking entrepreneurs added selling food to their companies’ stock list. This meant they were able to stay open when other businesses could not as they were deemed Essential.
Creating marketing material that acknowledges the way the customer is feeling and raises their emotional well-being has been a great way to gain customers throughout the lockdown. Many small businesses have used this method of advertising, as well as being a friendly and kind shoulder to lean on when customers comment on their social pages or blog posts.
The vast majority of smaller entrepreneurs have expanded their repertoire of business since the lockdowns. Being adaptable and open to change are defining features of a successful entrepreneur.
Many entrepreneurs and small businesses have dropped their prices to suit the customer’s needs. With many on a lower income, it is only fair that prices drop to suit this. Customers will be looking for cheaper products and services now until they, and the economy gets back on its feet. It is better to drop prices than to lose your business completely.
Working for Free
Many entrepreneurs have been working for free. Whether this is to boost marketability or sales or simply to help out the less fortunate, working for free can sometimes be an excellent way to increase your word-of-mouth advertising and portfolio while cementing business relationships and furthering your career. When you help someone in need, it is unlikely that they will ever forget it and very likely that they will want to repay your kindness in the future.
The running theme here is offering more for less and being ready to change wherever necessary. Being a successful entrepreneur is no longer about how many people you can stand on to rise to the top, but more how many people you can help up their own ladders on the way. Be a positive force in the world of business and alter your course when faced with unforeseen disadvantages. Being a great entrepreneur is turning a problem into a solution, and those who have succeeded in the respective lockdowns have done just that.