Using Downtime to Improve Your Business
There is no shortage of concern and anxiety around the emerging impact of coronavirus, most especially when it comes to self-employed, freelance workers, and the gig economy. Small business is big business in British Columbia. It makes up 98 percent of all businesses in our province, employing over 1.1 million people, according to Small Business BC.
While it might feel as if we are left to figure what’s next out for ourselves in this unknown territory, we should come together as a community through this challenging situation. It’s important to look after yourself and your business, so here are some considerations and things to do in the downtime:
Diversify yourself.
Whether you’re a product-based, in-person, or service business, this the perfect time to take a step back and figure out how to diversify your offering. For freelancers: think about products, downloads, webinars and new ways to package up your services online that may be at a lower price point than your standard rates. For product-based businesses: a flash sale on the leftover stock could be a great way to bring in some cash.
If you’ve managed to create something awesome that resonated with your customers in the past, repackage it and offer it again!
Get practical.
As freelancers, we’re used to the ebb and flow from month to month. Although this current ebb feels endless, the downtime is a great time to work on other projects that could grow your business or profile. We often put off essential business maintenance when swamped with client projects.
If you’ve meant to update your website or create a social media marketing plan: this is the time to do it!
Create new content and stay visible.
Keeping your online presence up-to-date can be a challenge when you’re busy, but while it’s quiet, you can refresh your platforms and get out there in front of potential new clients. Creating and sharing content makes sure you stay top of mind, and when things eventually return to normalcy, they’ll know you’re available for business.
Have you considered launching an online course or posting content on Instagram Live? Take this time to develop that content, as it could help position you as a thought-leader for your audiences and build new connections.
Do you!
Maybe you’re genuinely in need of this break to relax and de-stress? Use this opportunity to explore something you love, but never get a chance to do. Take on a passion project that will add to your portfolio. Passion projects are known to increase creativity and can inspire the way you think about business moving forward. Or simply, take some time to re-charge and focus on your mental and physical health.
Connect with fellow freelancers.
The virus is affecting everyone, and other business owners likely feel the same as you. Reach out to your network to see who needs support. Share how you’re doing. Actively encourage others to buy from small businesses. We’re all in this together, and while we’re taking this opportunity to grow, we can also use this time to make personal connections as humans.
Image Source: Denys Komarov