6 Simple Ways To Help Your Business During Turbulent Times

With political unrest, a pandemic, economic difficulties, and more, businesses are facing complex problems. But the good news is that companies who have been able to stay flexible can weather challenges more effectively.

But being flexible doesn’t have to be overwhelming - even small adaptions can have a big impact. Below we take a look at some of the simple things you can do to ‘future-proof’ your business.

1. Review Your Budget

During trying times, looking at your budget can feel intimidating or even demoralising. But stay strong! Revisiting your accounts will help you to gain a realistic view of the situation.

Even if you are in difficulties, taking an honest look at your finances will give you the power to see where cuts can be made — and when to ask for help.

When routines are disrupted, it can be difficult to keep tabs on where money is going in and out. But you can keep a clear head — and clear accounts — if you review this regularly. Don’t wait until the end of the year (or even the end of the month) to make a full assessment.

Armed with the facts, you will be able to face whatever situation you find yourself in - whether that means increasing the spend in some areas, decreasing it in others, or seeking expert assistance.

2. Train Your Staff

You may be going through a quiet period in your business, or have had to shorten your opening hours. But on the positive side, in some industries this can be a great time to invest in more training for your staff.

This will help to keep them busy and connected to the business, as well as ensuring that when they do return to work, they will be confident, positive, and boasting an improved skillset.

If your budget allows, you could invest in formal training. But if funds are tight, why not invite colleagues and guest speakers to share their wisdom informally, or even share your own? This can offer valuable real-life insights into the industry, while having the advantage of being possible to do remotely.

3. Invest In Wellbeing

Recent times have been challenging for everyone — employers and employees alike. Investing in wellbeing can be as small as checking in regularly with employees to see how they are doing, all the way through to hiring a dedicated wellbeing officer for your office.

Mental health awareness is especially important, and can be improved by just ensuring your workplaces prioritises open dialogue and a supportive atmosphere. Be sure to ask colleagues and employees what resources they feel would support them best, and review this on a regular basis.

Healthy initiatives such as walking or cycling to work, home workout challenges, healthy eating guidance and more, can all also help to boost engagement and positivity within your business.

4. Go Remote

If your circumstances allow, consider taking your business — or aspects of your business — entirely online!

This can mean making certain products and services (such as consultations or advice) available remotely via video call. It can also mean giving up office space in favour of having staff work from home. Or it can mean smaller changes, such as improving the range of products you already offer online, for example.

More people are working from home than ever before — to the point where many businesses now believe it will affect the future of commuting.

Many businesses who have been flexible and transferred their skills and services online have thrived. For business which are more location-based, why not consider investing more into online advertising?

5. Get Social

Social media isn’t just for staying in touch with friends or family, it is now a powerful business tool and an invaluable way to connect with your customers.

Online engagement helps to build relationships, share news and offers, and get your brand and business in front of the right people.

Many businesses now invest in full-time social media managers for marketing and content, while others opt to keep control of this process, save money, and do it themselves.

6. Build Relationships

Quieter times in business don’t have to mean quieter times for networking and professional connections. Reach out to other local businesses and consider if there are ways to collaborate and support each other.

Many businesses now work together to form strategic partnerships which deliver mutual benefits, such as by advertising each other’s business for free, or hosting joint events.

With the right approach, challenging times in business can also be opportunities for growth, support, and fresh outlooks.