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Tips to Adapt Your Small Business During the Pandemic

As COVID-19 continues to impact the way businesses operate and consumers shop, many small businesses may struggle to stay afloat, let alone thrive. Below are some of the simple, yet effective, ways on how you can build a stronger brand, earn more sales, and survive in these uncertain times.

Showcase locally-made products

  • Now, more than ever, consumers want to buy from local brands to support the domestic economy. By highlighting that you are a local brand and are selling locally-made products on your website and ads, you may be able to attract some customers and boost sales

Present information that is relevant to consumers

  • Make sure that your website and marketing collateral feature key information that consumers need including product availability, speed of delivery, return policy, and shipping fees. You might also want to modify your product descriptions for them to become more relevant to your customers’ changing needs during the pandemic.

Offer online gift cards

  • As people switch to online shopping, now is a good time to offer online gift cards that will encourage them to purchase products even without going to your physical store.

Engage customers through social media

  • Connect with your customers in a time of social distancing through popular social media platforms. Stay active and post relevant content that will promote discussion to give your brand a human element.

Manage your customers’ expectations when it comes to delivery

  • Make sure that you make your customers aware of the possible delays on delivery, especially if you’ve just transitioned to eCommerce. It is better to be honest and transparent than to lose customers because of miscommunication time estimates.

Revisit your expectations.

  • Review your recent directives and check if you have communicated your expectations clearly and consistently from the beginning. Also, identify where the underperformer’s difficulties come from.

Learn more about them.

  • Know their goals and what they care about. Learn about their remote set-up, schedule, and home obligations so you can adjust your management approach to match their needs.

Level with them and be specific.

  • Provide feedback to give them an opportunity to actively make some changes in their practices that are not working.

Help them learn how to improve their own performance.

  • You can avoid micromanaging by using questions so they can self-assess, modify what needs to be improved, and project into their own future.

Stay in close enough contact.

  • Stay in touch regularly and keep them in the loop. If you feel like you’re not getting a good read on your team member’s state of mind because you communicate mostly via email or chat messages, plan some of your interactions by phone and listen intently. The tone of their voice will give you more clues about what needs intervention.

If you need more techniques to strengthen your relationship with your team, improve performance, and consequently boost your business results, feel free to get in touch with us.
State grants and support programs
Along with national assistance, each state and territory has announced various grants and assistance packages which you may be eligible for. If you are unsure, contact us so we can discuss which options are most suitable for your business based on your eligibility.

ATO Tax Time Toolkit

The ATO’s Tax Time Toolkit has some useful guides for small businesses on topics such as: home-based business expenses, motor vehicle expenses, travel expenses and pausing or permanently closing your business due to Coronavirus. Ask us if you have any questions.

Get Cyber Savvy!

Scammers are taking advantage of the COVID-19 pandemic to con people into giving their money or confidential personal information. Here are some of the Covid-19 scams to look out for:

  • Scams offering COVID-19 testing, vaccine, or cure
  • Fake charities
  • “Person in need” scams
  • Scams targeting Social Security benefits

While the reason behind the fraud is new, the tactics are familiar. The best defence is to say No if anyone contacts you asking for your bank account information, credit card details, or driver’s license number; someone you don’t know requests money through payment app or pre-paid gift cards; someone you don’t know sends you a cheque for some reason and asks you to send a portion back; or simply your gut tells you that it is too good to be true or it doesn’t feel right.

On the Bright Side…

We’re now in the third quarter of 2020 and we are still in the grips of a global pandemic– leaving many scared, frustrated, and struggling. We understand that this year seems incredibly hard, and it surely doesn’t feel like a moment when you can easily see the glass as half full or make lemonade out of lemons. While it’s okay to not be okay, we encourage you to find the silver linings.

Get in touch

Contact Opulent Accountants today if you have any questions or want to discuss the next steps for your business.

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Moumita Ghosh
Moumita Ghosh
2020-11-18
Verified review
We've been meeting Dayan for years now and he is great with his advice and is very knowledgeable and pragmatic. We recently used his services to get the home loan for our house and he and his team went above and beyond to get us the best possible deal. Ishara in his team was super communicative and responsive in following through and made the process very easy for us. Highly recommend them!
Cara Neela
Cara Neela
2020-10-24
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Dayan and Hasi are wonderful, wouldn’t hesitate to recommend them! They went through all with a fine tooth comb to ensure all was correct. Thanks to you both and the Opulent team!
Jason Barry
Jason Barry
2020-09-29
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I was looking for a different accountant and was recommended to Opulent Accountants. I have been blown away with there service. I wish I moved accountant sooner. Platinum Plumbing Enterprises P/L
Afshin Koohestani
Afshin Koohestani
2020-09-10
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Uditha Illeperuma
Uditha Illeperuma
2020-09-08
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Opulent Finance gave professional advice for my unique home loan requirement. They respond quickly with the proper information. The process was smooth and I felt comfortable to deal with the team. The team is friendly and professional to deal with. Highly recommended for any one looking for finance.
Dinesh Fernando
Dinesh Fernando
2020-09-03
Verified review
Very happy with the service provided in getting my tax returns done. Mr. Dayan is very helpful and professional and has extensive knowledge in his field of expertise. Highly recommend if you are looking for a hassle free and prompt service.
Ronald Turner
Ronald Turner
2020-07-16
Verified review
Opulent were absolutely fantastic to deal with, they are competitively priced and incredibly proactive and friendly. For me I have been much better off using their fantastic services as opposed to doing tax returns myself. Sum was amazing, incredibly knowledgable and super friendly I'll certainly be back with Opulent next year
Milinda Wickramasinghe
Milinda Wickramasinghe
2020-07-05
Verified review
Opulent team has been fantastic and it has been truly a pleasure dealing with the team for more than 10 years. Dayan and Ishara have gone above and beyond to assist and communicated with me even when I was overseas. Excellent service has being provided in a professional and timely manner. I would highly recommend the team.
Chami Ranaweera
Chami Ranaweera
2020-04-28
Verified review
I have been working with Dayan last 9 years. All of my loans, refinance and tax are done through Opulent.Dayan and his team including Ishara are very helpful and easy to deal.
Edmund Lobo
Edmund Lobo
2019-12-02
Verified review
We were new entrants to the cattle farming scene. All the rules and regulations surrounding primary production can be very confusing. The team at Opulent Accountants walked us through all the steps, set up the necessary ABNs and Company / Trust accounts, filed the related pending BAS and Tax returns, and is currently keeping us up-to-date with all ATO related transactions. We recommend them highly to all.