An unforeseen event or incident such as a natural disaster, epidemic, or cyberattack often wreaks havoc on a business leaving the business owner confused and in gut-wrenching fear. Amid these difficult moments, business owners are faced with the seemingly impossible task of staging a comeback.
In the sections below, we have shared some tips on addressing these pain points so that you can bring more traction to your business and get the ball rolling again.
1. Safeguard Any Functions and Assets That Are at Risk
In the event of a disaster like a fire, flood, or tornado, the first step is to ensure that there’s no further damage to the assets that are still operational.
Next, you want to contact your insurance company so you can report the incident and ensure coherent communication. You also want to know everything your insurance policy covers and what it doesn’t.
If your company has been the target of a cyberattack, you should act quickly to safeguard your finances, personal data, and the company’s reputation. This would mean consulting a cybersecurity expert to restore your data and safeguard your business from a second attack.
2. Keep in Touch With Your Clients
During difficult moments, communication amongst your key stakeholders is paramount. You want to keep your customers informed and provide regular updates about the situation. Make it clear to them that the shutdown is not permanent (if you can guarantee such), and ask for patience as you fix things.
Not sure how to get in touch with your customers? Consider leveraging email marketing, making a post on social media, posting an update to your website, sending a mass message using a messaging app, or posting a blog post.
3. Maintain Efficient Cash Flow
Depending on the extent of damage, you will need finances to replace inventory, refund clients, and continue paying your expenses. When the impact is beyond what you can handle, it’s advisable to request deadline extensions from your tenant and suppliers.
Similarly, if your business is eligible for an SBA loan, you can apply for it to help you cover up to six months of expenses. That way, you protect your business from a flunk while cementing your base and getting back up.
4. Ensure Your Staff and Customers’ Safety
If a natural disaster hits your business, make sure the operations don’t resume until the structure/premises have been repaired and inspected by experts.
For instance, if you are recovering after a fire, storm, hurricane, etc., it’s best to seek professional damage restoration services to ensure your premises meet safety standards and that your staff, customers, and business inventory are in good shape.
5. Continue Advertising
If you want to maintain agility in the marketplace, don’t stop marketing even in the eye of the crisis. It’s essential to keep your loyal customers informed that your business is still the go-to place for their needs. Likewise, make sure you’re constantly reminding them about your grand re-opening.
You can do this by posting a countdown on your social media or website to create anticipation and mailing newsletters containing a personal invitation. Best of all, you can provide an incentive to customers who refer a friend to attend the re-opening festivals.
Some incentives you might want to consider include door prizes (chances to win a free product) and coupons.
6. Ask for Reviews
By asking for reviews from your loyal customers, you increase eyeballs on your website, boost your reputation and increase your sales. That way, you can turbocharge the pace of your recovery.
But before you go ahead with this tip, ensure you know how to ask for reviews such that your customers are more likely to cooperate. Otherwise, you could make your customers feel uncomfortable or compelled to share reviews.
7. Throw a Grand Re-Opening Party
Once you’re ready to open your doors again to the public, it’s wise to host a re-opening party to create awareness and generate traffic for your business. You don’t have to stretch yourself far out; instead, throw a party within your budget.
It could be as simple as an outdoor party with a few decorations and a special discount. Remember to capture the attendees’ contact information so that you can reengage with them in the future.
Get Started Today
When unexpected events occur, it’s certainly not the end of the world or your business. What’s more important to remember is that you’re not alone and can always use some help. With the tips we highlighted above, it’s only a matter of time before your business is up and running again.