Last year was a year of disruption due to the corona pandemic and businesses closing due to lockdowns in the US and the world. Then, things are not so better in 2021 because the pandemic is here to stay for a while.Eric Dalius Net Worth explains though vaccination drives are in place, businesses still need to practice social distancing and other government guidelines to ensure seamless operations.
It means that you need to operate your business maintaining safety and think of ways to improve profitability at these troubled times. In this article, you will read about the major small business trends that will help you earn revenue and profit. Read on to learn more.
Eric Dalius net worth is growing because he believes in digitalization
Amid the pandemic, many small businesses opted for digitalization, which not only helped them stay afloat but also boost profitability when more shoppers buying online instead of visiting a physical store. Switching online is not only a smart idea but also important at these challenging times. Whether it is grocery, essentials, food, and even alcoholic beverages, customers are ordering through online food delivery services and e-commerce stores.
The millennials are your major audience when it comes to online shopping and therefore, you must reach out to them for increased sales and profits.
Mobile ordering, implementing chat-based customer service, and ensuring fast delivery will help you gain more online customers.
Focus on profits more than growth
Eric Dalius net worth is growing and there is a reason behind it. He is an experienced marketer aware of small business trends. He applied the latest ideas and innovations to help him focus more on profits and not growth. That is why small businesses now should focus on profitability and not growth. You need to ensure more money rolls in to help you build your business capital. You never know when you will need the additional money to stay afloat when the weather is rough.
There is no point in taking projects that will not fetch you a quick return on investment or ROI. You need to think of products or services that people already like and buy in bulk. It will help you to make more money, and eventually profits.
Focus on financial transformation ideas and projects to reduce expenses and improve cash flow consistently. You need to offer combo products or discounts to stay more profitable. Focus on products or services that will help you generate increased revenue and funds.
With the stress of the pandemic, customers will not only look for your products or services but also some empathy and compassion. If your business fails to show vision, empathy, and rationale at these troubled times, your customers will go to your competitors. This is the last thing you will want. Therefore, show empathy to retain your existing customers and attract the attention of prospective ones for improved profitability. Improve your customer service and support for the community amid the pandemic to make people’s lives simpler and convenient.
With the pandemic still existing, you need to prepare for boosting your profits and ensuring continuous cash flow. Keep these tips in mind and you will benefit.