How To Grow Your Business Out Of A Crisis.

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The very nature of business often involves coming up against different crises. Risk is great sometimes, but down the line, it can be pretty damaging. Some of the crises aren’t of the owners doing either. Just look at Coronavirus and how it ravaged businesses from the hospitality, travel, and tourism sectors.

Sometimes, no matter what you do, your business can be slapped by pretty tough situations during which it may or may not survive. There are multiple ways to deal with these situations, some will vary depending on industry and personal attitude but they’ll at least give you something to think about and help turn your perspective to one of business survival.

Shift Focus To Your Website

Your website is like your storefront. It needs to be pretty and pull people in who decide to visit it. Getting someone to the site is hard enough and often requires a lot of effort with thought dedicated to search engine optimisation. However, when they get there you need to ensure everything is laid out properly and that it’s easy to follow.

Don’t cram too much on there. Keep your product pages clearly defined, and your blog separate. A good about page is great for those wanting to know more about your brand and what you do and a contact page is always needed for transparency. If you’re selling products, a returns policy is a great shout as it lends buyers confidence. If your site isn’t where you want it to be, focus on this first!

Image by RAEng_Publications from Pixabay

Utilise Third Party Sellers

If you aren’t making too much through your website or other selling streams it might be time to use another. It can be really beneficial to piggyback off third-party sellers. If you’re a supplier, Alibaba can be a great shout. It might be that you want to use Amazon too.

Be careful, make sure you ungate your brand first to ensure you can sell it. Remember, selling on third-party sites will cut your profit levels slightly because you’ll be paying money for fees and transport, etc. However, if you do your modelling and you’re still making a profit it could be worth doing, as it will increase brand awareness and potentially give you more followers.

Increase Customer Range

One of the key aspects of growing your business comes from pushing your brand into new areas. Imagine if you could sell into different countries or increase brand awareness globally. Doing abroad can be quite tricky but if you’ve got contacts there, or have previously done business abroad it might be easier than you think.

Look at the market abroad you want to sell into and consider whether or not there’s a need for your product there. Think about the culture and how things differ and if you can leverage that to increase sales. If your customer range increases then your sales will too. This is easier if you sell services rather than products, but selling products can work too but it requires a little more patience and strategy. 

About the author

Like Minds is a global thought leadership platform delivering world class events on business development, knowledge and insight aimed at entrepreneurs and business leaders to engage, stimulate and empower them to become global businesses of the future. We also offer a bespoke service for corporate clients and training programmes under the Like Minds U brand. For more information please email bespoke@wearelikeminds.com