A lot of businesses are struggling from the economic impact of COVID-19. Entire cities are going into quarantine and throughout the country many “non-essential” businesses have been ordered to shut down. There is a lot of speculation, but nobody really knows exactly how long this will last. What we do know is the impact to the economy will be felt for quite some time.
Starke has been advising many of their clients on how to adjust to this unprecedented event. Here are a few tips:
1. Inaction Will Kill You – Adapt Immediately
Too many businesses are sitting back and waiting to see what happens. They’re holding on to hope that things will magically return to normal soon and this will be nothing more than a bad dream. Unfortunately, the data, science, and the experts are saying the opposite. This is going to go on, and it could be even longer than we think. Start working on alternative strategies immediately. If you are unsure how you are going to adapt, contact Starke for a free consultation. Click here to choose a time.
2. Find Ways To Go Digital
Right now people are still in shock, they’re adjusting to working from home and they’re trying to adjust to the new normal. While people are confined to their homes, business will not stop. It’s important for you to find as many ways to utilize technology as possible. Here are some tools for going digital.
3. Cut Costs But Increase Advertising
Henry Ford once said, “A man who stops advertising to save money is like a man who stops a clock to save time.”
Cut all non-essential business costs where you can and look to roll those cuts into your ad spend. For many businesses, now is the time to get aggressive.
Has your business been hurt by the coronavirus? Contact Starke today for a free consultation.