Regaining Business Momentum in a COVID-19 World

Jake Michaels
July 29, 2020
1:00 am

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As businesses have started to reopen and operate under these unusual circumstances, some owners are having a hard time regaining their footing, much less generating enough momentum to throw them forward.

Retail shops, restaurants, mortgage-refinancing companies have all taken a hit from the effects of the pandemic. But most of them remain optimistic and are doing what they can to adapt.

7 Ways to Regain Your Footing and Build Momentum Again

  1. Keep your spirits up

Even if your business stalls or takes a slight dip in performance, don’t lose morale. Learn how to take things in stride and look at the downturns as opportunities for you and your team to reflect and evaluate your system and processes.

  1. Be patient

We all know that growth doesn’t happen overnight. The same can be said for regaining lost momentum. A lot of variables and factors contribute to where your business is right now. Find out what’s not working and start making adjustments to rectify it.

  1. Go back to the basics of your business

When you feel like nothing you do is working, go back to the basics. Revisit your company’s history. Why did you start it in the first place? What needs do you aim to meet? What’s your business model? Once you are reminded of your basics, it’s easier to make corrections and move forward.

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  1. Look at things from a different perspective

One thing that most people neglect to do is to look at things from different perspectives. Perhaps you’ve settled where you are and have failed to look at your blindsides. It would help if you step back for a bit and learn to look at your business model from a different angle.

Ask others to point out what improvements can be made. Sometimes a fresh set of eyes can make you see what needs to be addressed.

  1. Take an honest look at how you lead

One of the hardest things any leader must do is evaluate his or her performance with brutal honesty. It’s easy to take ownership of things when everything is smooth sailing, but when things start to go wrong, how do you respond? Will you respond the way your people expect you to, or will you run and save yourself?

Taking an honest look at the way you lead will expose your shortcomings. If you can own up to those and make the necessary adjustments to improve, the growth will come.

A company’s growth is dependent on its leaders’ growth.

  1. Reach out to your clients and customers

When your business has become stagnant, perhaps you’ve been out of touch with your market’s needs and preferences. Reconnect with your customers and find out where they are.

Call them and see how they’re doing. Ask how your company can be of service to them. Showing them genuine concern will make them feel valued and special, which can convert to loyalty to your company.

  1. Get the word out that you still exist

Improve your advertising campaign. If you haven’t been advertising, start now. Print out flyers. Make some noise in your social media accounts. Improve and increase your online presence and make yourself relevant to your customers again.

Let people know that your company still exists and that you’re always there to help meet their needs.

It seems like an uphill climb with no end in sight, but take heart. Take it one step at a time. Set goals for each day and do your best to hit each one at the end of each working day.

Get into a rebuilder’s mindset and let nothing slow you down. Eventually, you will gain enough momentum to put you back on track and even go further than you can ever hope to go.

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