During the Spring and early days of the COVID-19 pandemic, many businesses had to shut their doors, uncertain of what would come next. As things begin to close again, at least in Colorado, I wanted to share with you the top three business lessons we all learned during the pandemic. Because we’ve been through this before, we know what to expect. It’s my hope that this blog post will give you actionable tips to keep your business up and running during the uncertainty of the coming holiday season.
3 Business Lessons to Take Into The Next Wave
1. Adaptation is Key
When I think back to the beginning of the pandemic, I think of empty shopping malls and closed cafes. Businesses everywhere had to adapt. Many restaurants began offering creative take out options or outdoor structures for ventilated seating. Stores focused heavily on online sales, and even my company, WealthBuilders, moved our in-person events online as well. Whatever challenge you’re facing, I encourage you to think of how you can adapt your business to meet your customers needs.
Change is inevitable. Change can also be very uncomfortable. But change is not impossible. The key to surviving change is allowing room for growth. By allowing yourself to have a growth mindset, anything is possible. It’s okay to grieve the loss of what was, but make sure you also take action to create a new, and better, future.
2. Support Your Fellow Local Businesses
There’s nothing wrong with ordering something on Amazon to get free, two-day shipping. However, there’s something special about partnering with local businesses. An estimated 163,735 businesses have closed in the U.S. since March 1, and many are in danger of closing once again. I encourage you to partner with local businesses to add value to your customers. It’s a win-win for both companies because you’ll get exposure you may not have had before. For example, if you’re sending goodie bags to VIP clients, include products from local bakeries, coffee shops, or other small businesses. Coming together is now more important than ever. Be creative, think of ways to partner and support the local businesses in your area!
As we come closer to the holiday season, I encourage you to shop small. You can purchase books directly from an author’s website or a local bookstore. Whatever gift you’re thinking of giving this year, stop to consider if you might find it locally somewhere.
3. The Future Has Always Been Uncertain
This year has been hard on many of us simply because the things we thought would always be certain turned out to be fragile. That loss of security can be really damaging. However, I’d like to remind you that the future has always been uncertain. When I first started my business, I wasn’t sure how it could possibly be profitable. But, there is something particularly reassuring about putting an unknown future into the hands of our known God. While the circumstances may be different, uncertainty will always be apart of our lives. Lean into it, and lean into God.
This is why so many financial experts tell you to have an emergency fund. The best we can do is expect the unexpected, and trust that God will make all things new.
I hope this post has encouraged you. What important business lessons have you learned during the pandemic? Let me know in the comments below! WealthBuilders is hosting our last workshop of the year in December, Investment Mastery! Right now, we’re offering $100 off your ticket, all you have to do is click here and enter the coupon code “INVEST20″
Important business lesson I’ve learned is the importance to keep a emergency funds!
Yes! That is so important– and hasn’t this year taught us that?
Thank you for your response!