Published on 04/09/2020 by Any Business.Com.Au

Celebrating Small Business Success in the Covid Crisis

COVID-19 has had a devastating impact on small businesses across the country, forcing many to adapt and innovate in ways that would have seemed unprecedented before the pandemic.

One such business that has taken the opportunity to pivot its operation and improve the way it conducts business is Melbourne real estate agency, Ray White Ascot Vale.

Licensed estate agent and Director Adam Hicks, identified the pandemic as the perfect opportunity to grow his business, to look at the current processes and procedures within its four walls and implement a necessary strategy that would not only ensure the business' survival but set it up for success once the crisis ends.

While the state, in particular Melbourne, grapples with the impact of a dreaded second wave, Adam and a new look team set about a total overhaul of the office, including a complete re-brand into the yellow, black and white synonymous with industry leaders Ray White.

Mr Hicks said the real estate industry itself had suffered immensely since the pandemic began, adding that his business had been no different.

"Like everyone in real estate and small business for that matter, we have undoubtedly been impacted significantly," he explained.

"With unemployment on the rise, some tenants are experiencing financial hardship which has then had a flow on affect to landlords, so there are a lot of people feeling the pressure of the pandemic.

"With the current restrictions in place, open for inspections and auctions are not able to go ahead as normal so that has obviously meant the sale and leasing of property has become a lot more challenging."

Despite its challenges, Mr Hicks said having to change they way they operate day to day gave he and his staff the chance to think a little differently and explore new ways to work.

"I guess, this (covid) has forced us to think a bit more innovatively in terms of how we go to market and engage. Online auctions, video walk throughs are something we'd touched on previously but we've certainly gained a lot of learnings in this space over the past few months," he said.

"We've really been forced to look inwards for solutions during this time, which has meant an increase in communication and support for landlords and tenants and utilising a number of online training and leadership programs provided by Ray White who have been incredibly supportive."

He said identifying and implementing best practice processes, setting up his team to work from home, upgrading technology platforms and reviewing budget challenges had made up a significant amount of the change implemented in the office, adding that despite staff working remotely, the uniqueness of the situation had actually galvanised his team further.

"As a group we are really missing the peer to peer interaction but that has in turn meant we've been holding a number of remote engagement activities such as weekly meetings, trivia nights and Friday night drinks via zoom - which has kept us all sane to a degree!"

Like many in small business, Mr Hicks said that despite the difficulties associated with COVID-19, he is predicting a business rejuvenation in the latter part of 2020, with a 'mini-boom' on the cards for a lot of industries once all covid-related restrictions are lifted.

AnyBusiness.com.au

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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