Times are tough right now, and we’re all uncertain what’s to come in the days and weeks and even months ahead. But there’s one thing we can be certain of: Even as people stay at home, there is still plenty to be done.
We are here for you, and we’re going to get through this crazy time together.
How to Stabilize Revenue During Downtimes
Keep Costs Low
Look at all of your subscriptions and find which ones you aren’t using.
I did this myself a few months back and found that I was paying for software I didn’t realize had gone past its trial date, an Audible subscription for which I now have 6 credits for (send me your book recommendations, please ), and a magazine subscription that was still being sent to my old work. I bet if you take a close look at your emails and credit card history, you’ll find recurring payments for things you forget you were even paying for. It’s time to purge unnecessary costs. Pay for only the things you actually use.
Cut back on operational costs.
This is a tough one, but if you are temporarily closing down your place of business, there are measures you can take to keep the operational costs of your workplace down. Turn your thermostat to a neutral setting (don’t let your pipes freeze, though, cold states!), unplug all unnecessary appliances, suspend outside services like water jug delivery or garbage pickup — to name a few. Make sure any recurring deliveries you get from Amazon or elsewhere are paused as well.
Don’t buy more right now.
It sounds obvious, but stocking up shelves or buying in bulk isn’t necessary right now. It’s also easy to see ads online while you’re scrolling and to think your business needs this product or that. Keep the outgoing money at a minimum. Be diligent. Commit to frugality.
Keep Revenue Flowing
Make your products available for sale online.
Even if your clients can’t come in to buy off your shelves or get the deep conditioning service you offer, you can still send (or even deliver personally to a doorstep near you) the products they need until they see you next.
Can you offer any services online?
If you offer one-on-one sessions that don’t require physical touch, set up live stream appointments. If you offer classes or workshops, send access codes to the clients who have booked with you for live online versions they can do in their own homes.
Offer gift cards.
You’ve seen it all over social media, but it’s a great time to sell gift cards. People want to continue supporting you, and by the time we’re all allowed to move freely again, they’ll be stoked to come see you. You can also sell packages that they can redeem later.
Invest the extra time into your business.
We all have a long list of to-do’s that we’ve put on the backburner when we get busy caring for our clients face-to-face. Now is the time to tend to that list.
Beef up your client relations.
Because we’ve waived all fees at Schedulicity, you can turn on any of our add-ons for free — so try a few you’ve been curious about. Start implementing with things like package offerings, auto-billing, client text reminders, and product offerings while booking. Anything to make the ease of which they interact with you better is a win-win for you and them.
Tackle to-dos in your space.
Maybe it’s time to do those renovations to your studio that you haven’t had time to do with people coming in and out of your business. Even small changes help upgrade your customer’s experience and can come back to you in even happier customers who want to tell their friends about you. It’s also a great way to give your employees some hours to continue working.
Learn a new skill.
This one is great because there are so many platforms for learning tricks and trends of your trade online. Whether it’s Coursera, Udemy, or you just search your role model in your field and see what resources they have available for you, it’s time to sharpen your skills and charge more for that service, or pick up a new one that you can add to your service offerings.
Work on your marketing.
More than ever, people have time to scroll on their phones and computers. Don’t lose face with them. Work on your social media presence, maybe even advertise online, or plan out your future marketing strategies and get them all ready to go. That way when you’re back to normal, you can get to work with your clients while your behind-the-scenes marketing is filling up your books.
Move your booking time to further out.
You can move your settings to allow clients to book further out in the future for your appointments, class or workshops. It’s hard to predict when business will return to normal, but you can tell clients to still book, just in the future. It’ll also be very smart to keep communications with your clients going through the time, and let them know the minute you are going to be open for normal operation.