Small Business COVID-19 Rebound Strategy

What to do?

1. Evaluate and Analyze current situation for the local market.

The circumstances surrounding COVID-19 are undoubtedly contributing to stress and uncertainty — especially as it relates to your business. Despite the daily uncertainty, there is one thing that remains constant: your business’ need to perform despite these unprecedented times. The first step is to seek help from a local business consulting team that offers professional services for small businesses. A team of experts will be able to help guide you and your business back into stable and less precarious position. 

2. Create a flexible and adaptive plan for the ever-changing regional guidelines.

Regional guidelines are continuously changing, so it is important to have a plan that can be flexible. Revenue streams will change and the interaction with customers will need to be maintained. This will most definitely involve a digital presence, whether it be on social media, online advertising, or joining a third party promotional service.

3. Create proper communication channels.

Once the plan has been developed, it is essential to concentrate on communicating the goal to all parties involved (consultants, employees, and customers) through in-house or third-party channels.

How Can Prize Help You?

Prize is a technology company that focuses on promoting local businesses and helping them gain an advantage in a changing market. Prize is simply a mobile application that consolidates deals and promotions from local businesses and lets them create and manage a loyalty program (similar to a punch card). This application also allows individual customers to see deals and businesses around their location, all in one convenient place. Prize’s goal is to give small businesses the exposure, recognition, and tools they need to thrive in the modern economy.