Keeping a business afloat is a big enough challenge under normal circumstances. Now, with the current pandemic, making sure your business is built to thrive can seem incredibly daunting.
Bobbi Brown, beauty icon and now CEO and founder of a lifestyle and content company called Beauty Evolution, knows a thing or two about success when it comes to business, but even she isn't immune to the turmoil the pandemic has caused for businesses. Brown sat down with CNBC to share 4 must-follow tips for small business owners during COVID.
1. Focus on the positive
“Mostly, I’ve been focusing on the positive—the power of Zoom calls, virtual [public relations] opportunities, Instagram Lives, and having the time and space to connect with people I would’ve never met,” she told CNBC.
2. Hit the reset button
In times of change, it’s important to try to adapt to keep your business afloat, said Brown, now 63. Many haven’t been able to survive. About 60% of businesses that closed during the pandemic won’t be reopening, according to Yelp’s Economic Impact Report, released in mid-September.
“Sometimes it’s important to press the reset button look at what’s working and what’s not, and make changes,” said Brown, who will be participating in the Ewing Marion Kauffman Foundation and CNBC + Acorns Invest in You’s “Rebuilding Better: A Virtual Town Hall for America’s Small & New Business Owners” on Wednesday.
That means thinking outside the box and looking at all the avenues that people are using right now, she added.
It’s also key that entrepreneurs continue to build relationships, even though COVID-19 has impacted in-person networking events.
“There’s nothing like getting advice from people who have experienced what you’re going through,” she said.
Her advice: Reach out to people through social media, especially LinkedIn and Instagram. In fact, Brown has taken on several mentees during the pandemic through Instagram.“You never know who will answer you,” Brown said.