(ThyBlackMan.com) The COVID-19 pandemic is a crisis that has become inevitable and unpredicted for business owners. It is something they never wish to experience in their businesses. You may have a crisis management plan but it may not be suitable enough for the effect of the pandemic since it is very unexpected and no one was ever prepared for its scope. The best thing to do is to take steps for your business to cope with the help of your employees. You may start with creating or adjusting your crisis management plan based on your current situation. Here are some tips you may consider:
Check Business Insurance/Financial Assistance
If you have applied for business insurance, you need to review your policy. Financial assistance from your insurance can help you with your operational expenses which include your rent, employee salaries, production and marketing cost and other expenses. If you do not have business insurance, look for low-interest loans being offered by the government or banks. Those businesses who have allotted enough funds for this type of crisis are very fortunate and they are the ones who could easily cope up on this crisis.
Transition to a Work From Home Setup
Social distancing guidelines have restrained businesses from physical contact which force businesses to transition to a work-from-home setup. Your business operations may have been dependent on people working inside the workplace so it would be a drastic change to you and your employees but you have to adapt to it. If it is not possible, the workaround is to reduce the operating hours and apply safety protocols for onsite operations such as providing protective equipment or medical supplies for your employees.
Keep Your Current Staff
If you have enough funds for this crisis or have sought financial assistance, you may not need to lay-off employees as it may decrease your workforce. If the type of your business requires you to reduce production, you may consider granting leave to some of your employees. Keep them as much as possible as they will be the one to help your business thrive during the crisis.
Reinvent Your Business
From a face-to-face transaction, you may need to shift to a delivery-based type of business. This would definitely work to businesses that produce essentials like in the food industry. If you used to offer cooked delicacies, you may sell a ready-to-cook frozen product of your best seller. If this would not work, you may consider selling a different product but without losing your brand.
Reach out to your customers
Your loyal customers or clients may want to hear from you. You may reach out to them on your social media page or through email marketing and let them know your challenges as a business in this crisis but assure them that you are doing your best not to compromise the quality of your products and services. Update them if you have to reduce your business hours, decrease your supply or if you have to temporary close the business. You can also simply reach out to them to wish them well and safe from time to time.
Staff Writer; Ellie Carter
