BLOG

The coronovirus epidemic has created challenges for small businesses like no other in history. In my neck of the woods, non-essential businesses have been ordered to close. But everywhere across the nation businesses, nonprofits, and entrepreneurs are feeling the impact. While it’s tempting to simply hold one’s breath and wait for life to return to normal, there’s actually quite a lot you can do now to ensure your business gets securely back on its feet, and guard yourself against a possible recession.

Review, Revise, and Enhance Your Digital Presence. History teaches that once we learn a way of life, people tend to hold on to aspects of it. Much of our business is conducted online already—from searches to reviews to purchasing. Several intense weeks of online-only transactions is going to result in new behaviors. Now is the right time to assess your website to ensure that it is organized coherently, that people can find what they need with ease, and purchase effortlessly. Use this time to refocus your online marketing campaigns, gather digital materials, and schedule for the future.

Retool Your Brick and Mortar Space. This pandemic has changed us. We know longer think of personal space and cleanliness the same way. More importantly, social distancing recommendations may remain in place long after businesses have re-opened. Before you open your doors, evaluate your physical surroundings. Customers will feel more comfortable if the aisles are wider, the seating areas more spacious, and everything appears clean and orderly. Our sense of cleanliness is heavily influenced by our sense of smell, so make sure your business smells fresh and inviting. Keep hand sanitizer on hand and buy an electronic, touchless dispenser. And remember, you and your staff interact with more people in your place of business than your customers, so take steps to protect your own health.

Spend More Time in Your Community. Coming out of a crisis and extended isolation, people are going to be more community oriented. Do the same. Spend a little more time in your neighborhood, connecting with people, and supporting their business.

Restock with Intelligence. If this crisis changed people’s purchasing habits, consider what that means for your business. Were certain items suddenly in high or low demand?

Take Steps to Avoid Recession Losses. Despite rosy government statements, it’s likely that there will be a recession, large or small. The key to surviving a recession is cash. Operating expenses usually must be reduced when sales are down. Now is the time to trim your budget, add to your savings, and think ahead. Track your finances weekly. If you have a large staff, consider cross training them. If every job or task is learned by at least one additional person, when the primary person is out, the secondary person cross-trained to perform the task can leap in and save the day. And so work continues, and productivity remains high despite the absence of a key player. Review your marketing and reduce spending on traditional media. Use the internet and focus on existing clients first; get more out of them. Internet marketing will save many companies. Resist profit-eating sales and discounting. Don’t give away your product; instead, compete with service, quality and uniqueness.

Rebound Gently. There’s a high likelihood that life—and business—will not return to normal immediately. Social distancing recommendations may remain in place for months; the economic repercussions will change purchasing habits. Expect your business to rebound slowly, and plan accordingly.

Use this time. While there is no such thing as down time for a business, don’t forget—never forget—your family and friends. Use this enforced break to cook meals together, laugh, and get out into the great outdoors. Life is going to get busier, enjoy what you have now.