Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Many businesses are facing challenging times during this lockdown. During this time though, there are in fact things that you can do to assure the survival of your operations. The following contributed post is entitled, 4 Things Your Business Should Be Doing While On Lockdown.
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Has your business been affected by the coronavirus? The answer is almost certainly yes. Whether the virus has disrupted your supply chain or the lockdown measures have forced you to close your doors, life is very different for your organization right now.
It’s easy to sit back and do nothing during this period as you feel helpless. Don’t do that. It’ll serve no purpose and leave you in a much worse state when everything clears. Instead, here are a few things your business should be doing while on lockdown:
Start by planning for the future and thinking about what you’ll do when you can get back to work. Naturally, things will be very slow-moving when the lockdown measures are lifted. But, with careful and strategic planning now, you can make a much better transition. Think about what you will do when you’re able to work full-time and create an action plan for your business to follow. That’ll help you get back up and running a lot quicker than most.
Clean your premises
All businesses should really do this to be extra certain that your premises are safe when you return. It’s known that the virus can live in a human for around two weeks. What’s not known is how long it lives on surfaces. Many scientists believe it can live for far longer than two weeks. As such, you need a coronavirus cleaning service to give your workplace a deep and thorough clean. This eliminates the virus from your premises, meaning you can return to work without worrying about catching it from surfaces and spreading it again.
Manage your finances
You’ll be in a very challenging financial position while this virus takes hold of the world. Therefore, you have to try and save as much money as you physically can. Look through your budget and aim to identify areas where you can make a few savings. This might mean you have to take a pay-cut or limit your employee’s wages for a short while. It’s far from ideal, but you have to do everything within your power to keep your business afloat. If you’re not making as much money as usual, then action has to be taken.
Lastly, ensure that all of your employees stay connected. This is vital for a couple of reasons. Firstly, it keeps everyone in-tune with the business and makes sure all of your employees know what’s going on and what will happen. This deals with some of the uncertainty they might feel during this time. Secondly, it helps to maintain a strong bond between your team and provides some much-needed relief from isolation. You’re used to seeing each other for many hours a day, so taking that social element out of your life can be challenging. Host video chats and put on digital get-togethers, so you and your team stay connected and social.
I can’t promise that your business will be fine if you do all four of these things. However, it’s safe to say you will be in a much better position than if you sit back and do nothing at all.