The COVID-19 pandemic is rapidly changing life as we know it. For business owners, it’s a confusing and scary time since we don’t know exactly how much impact it will have on the economy. In the meantime, all we can do is keep on keepin’ on.
To help you stay afloat, we’ve put together this list of things you can do to keep your business running smoothly during the pandemic.
Move Your Business Processes Online
First thing’s first. If your business is products or services that can be offered online, make the shift. Put as many processes in place as it takes to conduct and manage your business virtually.
Allow your employees to work from home and consider implementing a virtual office so your company retains its professional appearance. During uncertain times such as these, consumers like to know they are dealing with a business they can trust, especially when there’s little face-to-face interaction. By using a virtual office, you get a physical address, and all the secretarial features you need to continue conducting business as usual – online.
Get Financial Help
The novel coronavirus has affected the entire world, and each government now has programs in place to help individuals and businesses affected by the chaos. For example, the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) helps small businesses, non-profit organizations, and independent contractors with payroll support. Check with your local Small Business Administration (SBA) for more information on programs and applications to help your business financially.
Create a Business Continuity Plan
While you probably already have a solid business plan, the pandemic may have made it null and void. If this sounds like your situation, then it’s time to create a business continuity plan so there’s a clear blueprint in place that you and your team can rely on. During times of uncertainty, knowing what your goals are and how to get there can make the difference between success and failure.
Shift Your Marketing Strategies
During a pandemic, people are more focused on their health and safety than anything else. Regardless of the products or services you provide, your marketing messages need to cater to the focus of the consumer. And, since most of your business is now conducted online, your marketing campaign should be geared toward the virtual sale. Be sure to focus your efforts on connecting with your customers so they’re more likely to stick with you through the pandemic.
Keep Up with Changes in Legislation that May Allow for Digital Development
We’ve already seen relaxed changes to HIPAA regulations that allow for virtual healthcare. These kinds of innovative digital changes (remote working, online learning, e-commerce development, supply chain changes, and more) are all in high demand right now, giving the right businesses opportunities for growth during the pandemic.
Prepare for the Second Wave of Illness
There will likely be a lull in the spread of COVID-19 once summer arrives. While it may seem like the worst is over, there’s a good chance we’ll see a spike in cases as the warm weather leaves us and winter sets in again. Take advantage of the summertime lull and prepare for the second bout of the pandemic.
Train your employees on how to keep the company going, stockpile your inventory (within reason), and create new strategies that will help you ride out this second wave.
The COVID-19 pandemic is disruptive for sure, but by following the tips above, you can keep your business running smoothly despite the chaos.