Fall 2020 looks different from any other fall that we’ve seen before. Between the ongoing pandemic challenges across the world, ever-changing recommendations for everything from shopping to school, it’s hard for women entrepreneurs to know where to focus their scattered attention.
After all, when you’re home almost all of the time, it’s easy to move into the caregiver role — figuring out school (homeschool, remote learning, pods, hybrid classrooms), meal plans, and household chores, as well as doing the work your job requires as an entrepreneur.
In this video, we talked to Liz Whitehead, CEO of 12PointFive about the key tips women entrepreneurs need to survive and thrive during COVID-19 and into the new normal.
Here are five tips for women entrepreneurs in the new normal:
- Focus on innovation.
- Embrace pivots.
- Personalize your communication and services
- Develop partnerships
- Continue promotions
Let’s focus on how you can keep building and supporting your businesses through the uncertainty of 2020 and beyond.
Focus on innovation
We’re not doing anything quite the way it’s always been done. Now is a great time to reset and focus on innovation in your business. While you don’t need to make big business or life-altering decisions, you can take this chance to find new ways to do certain things. For example, if your team has been depending on face-to-face meetings and watercooler conversations, this may be the time to add task management tools (like Trello or Asana) and communication tools (like Slack or Microsoft Teams). It’s also a great time to innovate your products and services and think of new ways to offer your products and services to your existing and new customers.
Maybe your business has traditionally been in-person, like a retail store, restaurant, or service, but now you’re turning to online sales, pick-up, takeout, or DIY programs. Or maybe, the services that you’ve always offered have exploded in demand, like tutoring or food delivery. Whether you’re adjusting and changing to accommodate growth or to ensure your business’ survival, pivots now are the lifeblood of companies.
Personalize communications and services
While social distancing measures are still in place, people need connections more than ever — even from businesses. Look for patterns and opportunities to build personal relationships. It can be as simple as sending a thank you note or adding a little touch of something special to the order. Now’s also a great time to start a loyalty program. You could also try increasing discounts for orders within a time frame (5% off your first order, then 10% off a second order within ten days, 15% off a third order, and so on.)
Develop partnerships and mentorships
Speaking of building connections, this is an excellent time for women entrepreneurs to develop partnerships with complementary businesses. Reach out to other business owners with similar market niches and create opportunities for cross-promotions. You can do social media takeovers, collaborative giveaways, or even virtual summits. And, those partnerships don’t all have to be customer-facing. You can also use this time to develop a relationship with a new mentor or start working with a budding entrepreneur to be a mentor.
Finally, continue to show up and promote your business throughout this time. Maintain your consistency in posting on social media, sending email newsletters, creating fresh content, creating new products, and running sales and promotions. Maintain your presence and stay in front of your customers throughout the shift to our new normal.
You started your business to improve and change the world. While we’re navigating a new normal, businesses run by women entrepreneurs are more important than ever. But by leveraging these tips, you can make running and growing your business a little bit easier.
Check out more resources on OpenWeStand.org for business lessons and strategies you can use to get through these tough times.