When it comes to business you may have likely gone through months that you never expected you would do in your working life. Nobody saw the global pandemic coming, and the effect it would have on the economy and the way we function with businesses. However, now that we are starting to come out of lockdown and make some big changes, it could be time to start looking at expansion in different ways. Lockdown may have forced you to diversify your business, but this could mean that new avenues of operation are now a possibility. With that in mind, here are some of the things that you could consider doing.
This is a contributed post. Please refer to my disclosure for more information.
Expanding your current business location
One of the first things to consider would be expanding your current business location. It may be that you have diversified your business and now need space in order to grow it, so expansion in this way could be a serious thing to consider. You could use things like a HMO Bridging Finance loan to help you with your plans and to move things forward quickly. It could help you to continue growing your business and enable you to function easily.
Making changes to the products and services you offer
Another thing to consider now would be any changes you can make to the products and services that you offer. Again lockdown may have forced you to diversify and make changes to your business that you hadn’t expected. Does this mean that you need to change and move with it and make things permanent? For some businesses, the expansion of your product range or services or going down a different route with them could prove useful.
Your own manufacturing side of the business
Maybe lockdown has made you see how difficult it might be in the future to import things so perhaps it presents the opportunity to manufacture your own products or keep things within the country you trade from. It could be a big step to make, but economically the right call with future changes to trade. It may even enable you to save some money.
A complete rebrand and launch
Maybe now is the time to consider a complete rebrand and launch of your business. You may have worked tirelessly to keep your business running during the lockdown, but now could be a great time to think about relaunching your business and rebranding. New colour schemes, logos and design elements. It could give you a great springboard to enter into the second half of the year with a new focus.
Applications and digital improvements
Finally, now could be a great time to think about a smartphone application or making some digital improvements. The way people shop has changed due to the global pandemic, and now more people want the convenience of delivery and online shopping options. Having an app or improving the e-commerce element of your business could be the way to go.
Let’s hope these suggestions help you to expand your business after lockdown.
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Staffing and Co
October 5, 2020 at 8:44 am (4 years ago)Thanks for this, a lot has changed in the business environment post-COVID-19, and smart business owners must identify the threats to mitigate and opportunities to explore. One common thing that should be top of the list is going digital and automating as much as possible; if you are digital already, make the process seamless and intuitive as much as possible.