Business viewpoint: Pushing through the pandemic-era business slump | Local Business News
When the COVID-19 pandemic hit, communities rallied to help small businesses.
We saw “shop local” initiatives, gift card purchases, and fundraising campaigns. As the pandemic drags on, recovery for small-business owners is likely to feel daunting.
Continue to pull up those bootstraps to stay relevant, stay connected, and push through this pandemic-era business slump. Here are a few ways to do that.
1. Add a dash of creativityThe hard truth is sales can still be a struggle and doors may be on the verge of closing but people are still spending money. Apply your creative chops and consider a way to create a new or different avenue of income to keep wallets open and products moving off the shelves.
Develop a passive income stream in your niche. Remember that phrase, “make money while you sleep?” Passive income is a way to generate money through a product or service without having to work that business full-time. Think about books, e-books, online courses, podcasts, a You-Tube Channel, and even blogs that can earn extra cash.
Sounds like a lot of work? Yes. Nothing is truly passive, but by putting in the work upfront, you have a new way to grow your brand, remain relevant, and generate ongoing income.