How to recover freelancing and start-ups Business After pandemic

08 Dec, 2020

With unlocking 5.0. businesses across the country are gearing to open up. A common obstacle faced by them is how to revive their businesses back to normal. Most endangered of them all are freelancers and start-ups for obvious reasons. Freelancers are forced to undersell their skills just to stay afloat in the market and start-ups that already struggle with capital also face similar challenges. Digital payments, virtual offices, video conference calls, remote co-working spaces, and flexible offices have come to their rescue. There are 4 key things that can help start-ups and freelancers stay buoyant and slowly slide back to normal.

  1. Unlock digital. Accept the new normal

The pandemic has accelerated trends such as digital payments, video conferencing calls, remote co-working, and much more. These technologies and practices are here to stay, which requires everyone who wishes to survive in the post-pandemic world to sanitize old practices and adapt to the new normal. Most of these services are free or at a minimal cost which adds a cherry on top for start-ups and freelancers. Also, if you don’t have an online presence yet, now would be time to start building one as it’ll help your work get discovered and also help with brand building. 

  1. Refine your strategy to cut expenses

Firstly, take a look at the overall strategy and functioning – aim to find gaps where changes can be made without compromising quality and there may be room for improvement when it comes to expenses. For example, for start-ups that are in their early stages, renting spaces for meeting rooms or conference spaces may not be a smart choice and might cost them a hefty amount at the end of the month. Rather opting for a co-working space may be a better option as they are equipped with amenities and services like conference rooms, private cabins, meeting rooms, and much more for a much lesser cost.

  1. Maintain the old and develop trust with new

It is very necessary to let your old clients know that you’re reopening for which you’ll need an effective communication plan. Apart from hours and product/service availability, it is also necessary to bring to notice any health and safety protocols you’re adopting. It will not only help you reconnect with your customers but also make them feel that they’re in a safe environment and it also helps build trust with new customers. This could be done in any way suitable to you. For example, a freelancer can use tele-calling to ask for their current needs as well as update clients or a start-up can notify everyone in their email list. A universal post across all social media channels is another option if your work is based on social engagement.

  1. A hybrid approach based on what fits your bill

For many freelancers and start-ups like most businesses, the major part of their work may have moved online but still a significant portion of work might be offline. In such a case, they are faced with a dilemma as to whether to move online completely and work from home saving costs, or to keep meeting at coffee houses or client premises with the fear of coming in contact with Covid. A better solution rather than renting small office space here would be to opt for a hybrid approach of online and offline by using co-working as a shared office space or as a virtual office. This will not only help you get rid of the comfort of home where your productivity tends to drop but also cut on expenses as you can book your seat based on your requirement and based on pricing suitable and start to work.

Lastly, it's very necessary to stay patient while you keep tweaking your strategies to find the right fit for you, and in due course of time, you’ll be back on your feet. ­­­­