Though the approval of a vaccine has many looking more hopefully at the future of the COVID-19 pandemic, there is still a lot left to be determined and repaired when it comes to the economy and small business survival. Without assurances that things will ever return to normal, protecting your small business as it continues to face the threat of a national economic crisis requires having a solid plan. You don’t have to be a business expert to realize that small preparations and ideas like sending business thank you cards can help your business survive the coming months. Here are a few steps you can take to protect your small business during the coronavirus pandemic.
Keep Health and Safety a Priority
If you are the sole employee of your company, you need to make sure you are taking care of your health. Limit your travel and your interaction with the public in order to protect your health. If you have employees, take steps to have them outfitted with appropriate PPE and implement any social distancing guidelines as recommended by the Center for Disease Control. Try to minimize exposure to the virus by having employees work from home or by staggering their shifts. Have protocols in place for employees who feel ill or for when an individual receives a positive test.
Be Flexible in Your Attitude ad Approach
So many things have changed as a result of COVID-19, and the businesses that are quick to adapt and adjust have the best chance of survival. Financial shortfalls are to be expected in many industries, so cutting expenses may be a priority for your business. Look at diversifying your services or products to meet the more immediate needs of consumers. Foodservice locations have gotten creative in delivery or take-out dining options, and little ingenuity can go a long way in giving your company staying power through this time.
Stay In Touch With Consumers
You still need to reach out to your consumers during this time. You might realize they aren’t in the store as a precaution, but you don’t want them shopping online for a similar product either. Sending business thank your cards to current and former customers puts your brand back in the home and remind them of what you have to offer. Create video content for your website or social networking pages, keeping consumers informed of what things are happening, how you are prioritizing safety, and what they can look forward to over the next few months.
Conduct Regular Operation Audits
The issues of COVID-19 impact businesses differently, and you need to keep a close watch on the areas of your operations to see which is being hurt the most. Develop scenarios for potential situations, then come up with a contingency plan for each case. Evaluate and gauge where your business will be in three months, six months, or one year if things are still going the way they are now. Make plans that include labor needs, revenue changes, and additional health and safety measures. Having strategies in place before a problem happens can help keep your business operating without too much downtime.
Plan Your Financial Future
If at all possible, start an emergency fund and move money into it right away. Start tracking your cash flow and forecast expectations over the next months. Review credit risks and non-critical expenses. Research small business loans or other financing options in case your business falls into a cash crisis and need supplemental funds.
Without knowing the economic future, you need to take steps now to protect your business from further damage or setbacks. The coronavirus has changed many things, but you don’t need to let it impact your company’s future. Take advantage of these tips to keep your doors open. If you want to order some quality business thank you cards for your customers, check out the selection at Cards for Causes.
