[vc_row][vc_column][vc_row_inner el_class=”container”][vc_column_inner][vc_column_text]Even if you\u2019re back up and running and getting into the swing of things again, your trade business has probably taken a bit of a hit during this time. To help you build it back up and recoup your losses ASAP, we\u2019ve put together five steps you can take below.<\/p>\n

1. Get all the assistance you can<\/strong><\/p>\n

There are a few different subsidies and initiatives that have been put in place to help businesses get back on their feet. Make sure you\u2019re taking advantage of as many of these as you possibly can – there\u2019s the wage subsidy<\/a>, the Small Business Cash Flow Loan<\/a>, and a few others, so do your research and find out what you\u2019re eligible for.<\/p>\n

2. Review your financials<\/strong><\/p>\n

It might not be something you really want to do at the moment, but it\u2019s pretty important. You should take a look at how much you need to recoup and how soon that\u2019s likely to happen – are things building back up quicker or slower than you expected? And how can you manage your overheads with that progression? It\u2019s a good idea to get the pros in to take a look at how you\u2019re tracking and what you\u2019ll need to do to get where you want to be.<\/p>\n

3. Look for cutbacks<\/strong><\/p>\n

Once you know the general state of your finances, whether it\u2019s better or worse than you thought, now\u2019s the time to see where you can make changes to reduce your overheads and use your time and supplies more efficiently. Is there a particular supplier who gives you a headache everytime you think about them? If they\u2019re charging too much for a less-than service, or their payments aren\u2019t reliable, maybe it\u2019s time to cut it and look for something of better value.<\/p>\n

4. Prepare for next time<\/strong><\/p>\n

Hopefully it\u2019s unlikely that something like COVID-19 will happen again anytime soon, but it\u2019s a good idea to take the time to solidify some learnings should something similar happen again. What did you struggle with this time? What would you have wanted to already have in place to help? It\u2019s about learning from this unprecedented time and preparing your business to weather any similar storms that might happen in the future, such as a recession or an unexpected dry period of work.<\/p>\n

5. Keep providing that stellar service<\/strong><\/p>\n

Especially during times like these, clients will be a little more picky about who they\u2019re choosing to give their cash to when they need something done. Make sure you\u2019re getting some good client reviews and testimonials out there, and ask for referrals where you can because, as you know, word of mouth is gold in tradie-land. Keep doing the great work you\u2019re doing and you can\u2019t go wrong![\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row el_id=”related-post”][vc_column][vc_custom_heading text=”Related articles” font_container=”tag:h2|text_align:center|color:%2313143e” use_theme_fonts=”yes” el_class=”title my-5″][vc_basic_grid post_type=”post” max_items=”4″ element_width=”3″ orderby=”rand” item=”918″ grid_id=”vc_gid:1591053115958-4d1b3172-a010-6″ el_class=”related-posts mx-auto mt-3″][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][vc_row_inner el_class=”container”][vc_column_inner][vc_column_text]Even if you\u2019re back up and running and getting into the swing of things again, your trade business has probably taken a bit of a hit during this time. To help you build it back up and recoup your losses ASAP, we\u2019ve put together five steps you can take below. 1. Get all the […]<\/p>\n","protected":false},"author":1,"featured_media":3512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"acf":[],"yoast_head":"\n