Small Business Vaccination For COVID-19
Do you fear losing your business to COVID-19 more than catching the virus itself? Guess what, you’re not alone. Your business is your baby, and as a parent, you feel a responsibility to protect and nurture it. So, while scientists develop immunizations for COVID-19, small business owners are exploring ways to safeguard their livelihood.
1. Become Your Own Client
Entrepreneurs generally focus on client needs first. What services do they want? How can I make their lives easier? Ironically, the best answers may surface when small business owners honestly reflect on their own issues and desires.
Bruce Markow, a licensed massage therapist in Manhattan, NY combines massage, meditation, stress management and yoga to relieve clients’ physical, mental and emotional tensions. Not surprisingly, social distancing requirements made Bruce anxious. How could he provide massages when the entire nation was under stay at home orders? Just thinking about it caused Bruce to experience the same symptoms he treats in others.
Bruce realized he needed to become his own client. Over the following week, he reviewed his toolbox of techniques and built a self-administered treatment plan. This led to a suite of self-guided digital offerings to complement his existing therapies. Ultimately, the pandemic expanded his market reach and business opportunities.
2. Revisit Your Roots
Why did you open your business? How does your background make your business unique and compelling? Retracing early steps can provide a roadmap for your business’ future.
Kevin Peterson and Jane Larson, owners of Castalia at Sfumato, extend their passion for fragrance to spirits. Their Detroit establishment is a perfumery by day and bar by night. In the evenings, their fragrance shop becomes a cocktail lounge that serves mixed drinks with scent strips. The scent and spirit combination deliver an enhanced drinking experience. Their business was nearly two years old when the pandemic hit. Michigan regulations do not allow takeout or delivery cocktails, so they needed a way to remain relevant.
Kevin’s background in engineering, physics and culinary school led to a new product offering – a take-home cocktail cube. This frozen juice cube creation helps amateur home bartenders craft the perfect drink. Mix the cube with alcohol and savor a professional grade cocktail. With home alcohol sales up nationwide by 55% in March 2020, and spirits showing year-over-year growth of 75%, Castalia found a growing niche.
3. Turn Competitors Into Collaborators
As a business strategy, both competition and collaboration can deliver results. Picking the best strategy depends on the owner’s tolerance for stress. Competition is inherently stressful. Collaboration reduces anxiety for a more certain — though potentially smaller — return. In times of great uncertainty, lower return may be the preferred option.
The Wilmette Theater, located in a northern Chicago suburb, showcases Independent films. The no frills concession-stand and seating add to its charm. The old-time cinema era is as entertaining as the movie itself. The theater has been a community pillar for over 100 years.
During the stay at home order, Wilmette Theater is partnering with modern online film distributors to offer streaming of independent films. The theater receives a portion of the fee, while the distributors (Apple TV, Roku, Amazon, Chromecast) gain goodwill among old-school movie goers. Together, the theater and online distributers can deepen appreciation for independent films.
4. Share Your Situation
In times like this, people want to see their go-to products and services survive. Unfortunately, many small businesses have not received governmental financial assistance and operate on ingenuity and grit. If your business operates without assistance, consider sharing this in your marketing. Customers typically reward those who show devotion, courage and faith.
For those receiving aid, think about sharing your use of funds to support employees and the community. A message such as this can provide your current and potential customers with a sense of continuity and trust.
How have you inoculated your business? To explore more ways to protect your small business, contact [email protected].