3 Tips on How to Grow and Scale Your Company During the Pandemic

Adaptability and creativity are playing major roles in the pandemic lives of businesses. Inflexible responses to lockdown and slowdown are met with slow sales or no sales. While the effects of the pandemic are wreaking havoc across the globe, some businesses have figured out a way to make the current circumstances work. Some are even thriving. 

Here are three tips on how to grow and scale your company during the pandemic:

1. Pivoting to new business models

It’s all about the pivot, according to Harvard Business Review. Companies that pivot to a business model that fills immediate pandemic-related needs can leverage the temporary new normal while also creating a long-term growth strategy.

For example, Spotify was in a prime position to take advantage of a lockdown when customers without a lot of options could still listen to songs all day — except Spotify relied on advertising dollars from businesses that ended up cutting their budgets. They needed to pivot to stay relevant. Acting swiftly, Spotify signed exclusive podcast deals with celebrities, and now that they offer original content, the platform transformed into profitable copyright owners, which is exactly how they were able to secure their deal with Joe Rogan. 

Related: Planning a Strategic Pivot

2. Collaboration with influencers and brands

Pivoting is another way of saying “meet your customers where they already are,” which is home, on their phones. In response to the increased use of social media, Social Media Marketing suggests businesses collaborate for mutual benefit with other brands and influencers to grow during the pandemic. 

Whether a business hires an influencer to post on their feed or join them in a giveaway, they should invite influencers with at least 10,000 followers to partner with them. Celebrity giveaways are huge right now. HighKey Clout, for example, founded If a business hopes to hold onto in-person transactions, they can start Healthy products that ensure safety don’t have to just be topical precautions. For example, Skyler Stein leads Gladskin, a biotechnology-driven skincare brand whose products are defining a new category of treatment for eczema. After launching Gladskin’s Eczema Cream with Micreobalance in the U.S. in January 2020, Stein and the Gladskin team have focused on delivering their products through an advanced DTC approach, which is disruptive to the industry and has been a huge benefit to their customer base during COVID. While physical drug stores are the primary distribution channel for OTC eczema treatments, Gladskin makes shopping online more convenient, service-driven and safe during this time of social distancing. 

Related: How Restaurants are Gaining Trust With Customers During COVID-19

Additionally, as a precautionary measure to contracting COVID, it is recommended The lesson here is to actively seek ways to make your product and business pandemic-proof Whether businesses adopt new ecomm platforms, leverage social media or automate systems that were once processed by employees, technology can save businesses time and money while simultaneously helping companies scale. The pandemic may force companies to adopt new tactics that may be more work or expensive upfront, but in the long run, these tactics may end up helping them grow post-pandemic. This pandemic is unprecedented territory for everyone, but with the right focus, tools and vision, you can grow and scale faster than before.