Before COVID-19 halted travel and forced us to become socially distant, 2020 started off as a great year for small business. In fact, the Federal Bureau of Economic Analysis reported an increase in personal income of .6% in January (Personal Income and Outlays, 2020).
In March, when we learned just how volatile and contagious this virus is, life as we know it stopped in its tracks. Small businesses everywhere are experiencing a plummet is sales, canceled contracts, and clients unable to commit to future deals. With all these abrupt changes and losses small business owners are asking, “Is it even worth staying in business?”
The answer to this question is… Absolutely yes! Below are 5 reasons why you should do everything you can to keep your small business afloat during the Coronavirus pandemic.
This is Your Passion
Small business ownership isn’t something people do on a whim. You’ve worked incredibly hard to get where you are because you believe in your product or service and you believe in yourself. You chose entrepreneurship as your path because it is part of who you are. The Coronavirus has taken enough from us already, don’t let it take your dream too
2. Client Loyalty
One of the absolute most important components of a successful small business is client loyalty. You’ve put so much effort into building a solid list of clients. Why give that up? If you punch out now, your clients will find someone else to replace you. That person may not be their first choice; you were, but you left.
3. You’ll Prove Your Grit by Sticking it Out.
Yes, we get it. It is really tough right now, but you’ve got to look for the light at the end of the tunnel. There’s something to be said about an entrepreneur that sticks it out when things are tough. You’ll build a reputation as someone that makes goals and sticks to them and won’t duck out when problems arise.
4. This Will Pass
We will get through this and when we do, do you want to continue living your best small business life or do you want to start all over? It will be much more difficult to start up your business again once things settle into a new “normal.” Use this time to improve your business and hustle to make some extra side money to help keep you and your business afloat.
5. Your Clients Need You Right Now
This is an unsure time for your clients as well as for you. Take some time to communicate with them on a human level. Give them a call and just ask how they’re doing. This will reduce stress for everyone and will create lasting relationships.
We are in a time of uncertainty. Our lives and businesses are being met with challenges that we did not see coming. Now is the time to build those client relationships, be resilient, and have an optimistic view of the future.
So get out and there and keep hustlin’! Start that blog you’ve always wanted to write, read the book sitting on your bookshelf, or look into some ways that you can earn a little extra cash to keep you and your business going!
Reference
News Release. (2020, February 28). Retrieved March 23, 2020, from https://www.bea.gov/news/2020/personal-income-and-outlays-january-2020
Meet Laura: Laura is a former airman and elementary school teacher that turned her passion for travel into a business. She lives near Fort Hood, Texas with her spouse and six-year-old son.
