When you started your business, you never imagined it would have to survive a global pandemic like the coronavirus. While facing the challenges ahead may feel overwhelming, this is the time to build a plan for keeping your business strong through any type of rough weather.
You’re building a business you want to last long term. That means facing challenges, even COVID-19, and leading your business to the future.
Create a Safety Plan For Your Employees
This will involve a fair amount of work. It should include things like the steps your business is taking to protect your employees from the spread of the illness, what you will do if there is an outbreak within your workplace, and how it is that your employees will be contacted and how they can contact you if anything happens.
This should also involve a plan for updated cleaning procedures at your workplace. You will want the space to be cleaned more frequently and with recommended safety measures.
While it was never a good idea for employees to come to work when they felt ill, it used to be commonplace for people to do this anyway. This is a good time to encourage employees to wash their hands more frequently, keep hand sanitizer around the workspaces, and to request that sick employees do not come into work.
Build a Financial Plan For the Next Three Months
It can be difficult to plan your finances too far ahead, but protecting your business during the coronavirus outbreak should include a plan for your company’s finances for the next three to six months. This plan should involve a new perspective on your projected sales numbers, plans for managing your resources, and a look at possible new revenue streams for your business.
It should also involve taking advantage of small business federal relief options. While this may expand in the future, you can look into low-interest federal disaster loans, the federal income tax deferment, and tax credits for employers.
Update Your Marketing
In the modern world, businesses have learned a lot in recent years about keeping their marketing mindful of current events. This is especially true on social media, where messages from businesses are expected to be relevant to the current conversations happening online.
Your business needs to remain visible. An active marketing campaign is vital to keep your business in action. You won’t be able to market at many in-person events, so now is the time to expand and refocus your digital marketing efforts with lead generation and social media management in mind. Keep your online marketing relevant, mindful of the current situation, and visible.
Network With Other Businesses
Now is the best time to push your networking skills. While you aren’t likely to meet others at events, keep in touch with those you know, and join relevant online groups in your industry. Your network can be a great source for finding more tips and keeping updated on how things are advancing with the pandemic and other businesses in your industry.