… feel that COVID-19 will have a moderate to high impact on revenue
…expect the virus to have a moderate to high impact on their supply chain.
…say they are taking measures to prepare for an economic slowdown.
Here’s What You’re Going to Do About It
Shift All Sales to Online &/or Over the Phone
- Work with your web designers to “productize” your services on your web site.
- Implement a demand generation platform to increase digital traffic to your company web site and social mediums which in turn should have lead capture tools in place, like hubspot or marketo.
- Consider implementing a new VoIP phone system. Employees can have their deskphones shipped directly from the VoIP provider and plug their phone directly into their personal internet connection.
COVID-19-Related Resources for Small Businesses
Check out the Coronavirus Small Business Guide by the US Chamber of Commerce which has articles like:
- 10 Commonly Asked Coronavirus Small Business Loan Questions
- Everything You Need to Know About Coronavirus Federal Small Business Stimulus Aids Programs
- How to Get an Emergency Paycheck Protection Loan
- Coronavirus Aid, Relief and Economic Security Act, What Small Businesses Need to Know
Enforce Hypiene Standards if You Have to Work from the Office
- Disallow Person-to-Person Contact in the Office (no handshakes, fistbumps, nothing)
- Employees Should Wash Their Hands Whenever They Enter the Office and Several Times Throughout the Day
- Enforce the Wearing of Facemasks if you have access to them. (even bandanas are better then nothing)
- Create a task force in charge of disinfecting the office throughout the day.
Be Transparent with Your Customers & Vendors
We’re all in this together.
Customers and Vendors should understand the limitations that COVID-19 has put on all businesses, big and small. Be transparent with them.
Make sure you tell them what precautions you are taking to protect them and your staff from COVID-19 and explain which services or products are impacted by the virus (e.g. delays), or, in the case of vendors, if their payments will be delayed or any anticipated changes in future orders.
Cut Down or Eliminate Meetings or Travel
We, as a country, need not give any opportunities for this virus to spread and further infect more people.
Also, if your business is considered non-essential, and you still have people coming into the office, you could have a liability issue on your hands if they are infected (symptomatic or not). Also, forcing employees into work during the time of a Pandemic will likely create disgruntled workers and low morale if you are a non-essential business.
Be Flexible with You Employees
These are trying times for everyone.
Just because your employees can work from home does not mean it is not an inconvenience for them, especially if they have young children out of school that need constant supervision. Be flexible with deadlines. Focus on the result, and less how it is done.
Consider adding addiional freelance workers if you have the budget.
Nothing to Do When You’re Off the Clock Sitting at Home?
Check our our blog article:
…on our luxury residential real estate web site.