As COVID-19 restrictions continue to affect Australian businesses, it’s more important than ever to consider business development strategies to keep your business alive.

Now is the time to step back and review your business strategy. With change happening fast, you need to look for quick and easy ways to increase the sustainability of your business. You must ask yourself "what are my business opportunities and what can I change to increase my chances of surviving until COVID-19 is under control and normality returns to Australia?"

With demand decreasing as consumer spending slows, many businesses are cutting costs in operations, technology, employees and marketing. But here’s how you can take advantage of the Australian Government stimulus packages designed to help you keep staff employed and invest in your business.

A business strategy for small business and trades needn’t be difficult or costly. Often it can be as simple as reviewing how you interact with your customers or investing wisely to free up more time in your business. This could include streamlining your product or service offerings, product development, refining your sales process or working on a longer-term business development plan.

Small Business Strategies for Company Profitability and Sustainability

Invest in Software Technology

Software is an integral part of doing business and, in current conditions, has become more important than ever. Software is currently keeping thousands of local businesses open by allowing the millions of staff they employ to work from home.

As a trade business, you must be investing in software that will improve your business. Manually creating quotations can take up to 30 minutes, but with the right software, you can build a quote in less than 5 minutes! You now have a spare 25 minutes to focus on your potential customers and improve your chance of winning the job.

Maximise Existing Clients

With every job you quote, win or lose, you collect customer details. These details are gold and should be used as soon as possible. By contacting your customers via email and through social media, you can remind them you are available and ready to help!

Remember, more people at home means more toilets flushing and more lights being used.

Focus on Customer Service

• • • Ask each customer the questions relating to COVID-19
      • Have you been in contact with any friends, family or work colleagues that have tested positive to COVID-19?
      • Have you been experiencing any respiratory issues or flu-like symptoms over the last 21 days?
      • Have you recently been in self-isolation?
      • If safe to do so, can you ensure that the area our tradesmen will be working in is clear and recently cleaned with anti-bacterial agents?
    • Let customers know what you’re doing to improve the safety of your employees and, in turn, to protect your customers from the virus.
    • Wear your Personal Protective Equipment (PPE) such as masks, gloves, shoe covers and carry disinfectant spray/gel.

Offer Incentives

Create Value

What value can you create for your customers? Don't just do the work they are expecting you to do. Fixing a leaking tap? Tell your customer you can provide a quick flush of the other taps in the property as an extra service for them today.

Replacing downlights? Let your customer know you can quickly inspect their other downlights for charring, burning or fraying of other downlights in the home.

A simple value-add is inspecting the property for the customer without leaving a quotation. Simply making them aware of issues, and educating them on why you believe it is an issue, will add a lot of value to your customer service.

Offering value does not mean short term capitalisation - it can mean planting a seed that you nurture into a customer relationship.

Alternative Payment Methods

Property owners may not keep much cash on hand to pay large invoices. Becoming accredited with a payment plan facility will give customers an alternative payment method and greater flexibility.

Many small business owners are refusing to accept cash as payment due to the risk of it spreading COVID-19. This may impact your business. Reverting to direct debit may seriously impact your cash flow. Instead, ask your bank about arranging a POS terminal, or sign up with an online payment system that will allow you to accept payment via card.

You created your business strategy when the economic landscape was different. It is important that you review your strategy immediately and begin implementing changes that will see you through to the end of this pandemic. If you are uncertain as to how to implement technology and software into your business, reach out to one of our Partners today.