It is a challenging period; how does one even think about business when the whole world is worried sick about COVID-19 pandemic and its crippling effect on the global economy? It is tough, however if we are to survive this, and have a livelihood then we have to be proactive. We have to brace ourselves and weather the storm. Your business should survive this, here are a few basics you should look into now;
Adhere to all Safety Measures
Bet you have all the safety measures on replay in your head. Here’s another reminder incase you’ve skipped one; Wash your hands regularly, stay home, stay safe, maintain social distance (physical distance of at least 2 metres), avoid touching your eyes, nose and mouth, self isolate and maintain a healthy lifestyle.
Work From Home (WFH)
Create a work schedule you can commit to at home. How many hours a day can you commit to your business? This may require some discipline, if you are committed you can do productive work at home. Tune of the distractions and focus. Need to meet with your team? A number of free apps come in handy, try Zoom and Slack, WhatsApp is still a great tool. This might be a good time to learn something new, invest the time to learn and grow your business.
Prioritize Digital Communication
Stay in touch with your clients and employees. Stay top of their mind; communicate and engage. Online sales are slim but viable, this may also be a good time to reach out for a collaboration. Again a number of apps come in handy, discover them online. What ever you decide make sure you are come across as relatable and show empathy.
Prioritize Your Employees’ Health
Are your assistants, tailors and sales personnels working this period? Remember to check on their health, show you care and equip them with safety gears. Only health beings can work.
Identify Critical Operations
Your business can and should continue while the world waits out the pandemic. What functions can continue while you and your employees stay at home? How can you maintain a cash inflow? Could this be the time to work on a sustainable or up-cycled collection? Brainstorm with your team, get feedbacks from your clients and decide on you next action.
Re-Evaluate Your Strategy
What was your strategy before, and what is your strategy now? How do you intend to engage your customers now? How have the first three months of 2020 been, compared with same period last year? What is your new offering? This would be a good time to visit your business structure. How can you achieve your dream brand? Do it!
Re-Visit Your SWOT
What are your current strengths, weaknesses, opportunities and threats. Remember every situation presents an opportunity.
Actualize Your To-Do
Write out a list of things you can achieve for your business this period, rank them and do the the top two, or three if you can.
Be Prepared for Possible Outcomes
With so much uncertainty at the moment, it would be wise to plan for at least three possible outcomes. If you have identified you SWOT then you task here is half done. Make predictions as they help you prepare for any possibility. Put your management skills to test.
Looks easier said than done? True, but they are doable and advantageous to your business. You can start today. All the best!
Please feel free to share your thoughts and progress on the above, let us know how you are doing. Stay safe.