Coronavirus is taking a larger toll on U.S. life than many people imagined it would. What happened in China and Italy is occurring here and it looks like things are going to get much worse. Many businesses will be forced to shut down – as in the San Francisco Bay area – and income for massive numbers of people will completely stop – but no one can say for how long. The good news is that you could make it a time to prepare for the next step.
Many businesses in some locations have already closed because of the virus. If your business has closed due to coronavirus do not look at it as a time to be idle. Instead, there is so much more you could do during that time to be ready to charge forward when the doors open again.
Develop a Work from Home Business
If your business enables your employees to work from home, seek to make the transition as easy and fast as possible. Your hourly wage employees will appreciate it. In some cases, you will be responsible to help pay for any tools or electronics needed to do the work while at home.
Be sure that you understand the laws about to be passed about paying employees and possibly getting help from the government to cover your employees’ salary – or part of it. These government plans may change, so you will need to keep an eye out for them.
Be sure to take into consideration the fact that some employees will have to supervise children while at home. Schools are out in many places, so it will likely mean less work is going to get done.
Focus on Online Sales
Place your attention on making sales online. This could help you to continue to have some income. If you do not have a website it is time to get one, but you will also need to learn how to market online.
Learn More Business Tips for Success
Business experts are always coming out with new ways to improve your business, whether you have a physical one or an online one. Take time to learn more every day. It can give you a lot of potential ideas to make your business better.
If you have a small business that you think might fail during the shutdown period, get ideas for a new one and then develop them. Find out how you might be able to get finances for a new one and start laying down some plans in writing.
Conduct a Business Review
Take time to look over your business records and processes and conduct an honest evaluation in light of what you have learned from the experts. Seek to make improvements in your business processes. It can help increase production and reduce costs if your business is run more efficiently.
Maintain Customer Communication
Keep your customers informed about any transitions you must make. If they have made orders that you cannot fulfill now, be sure to explain that to them. If you do not communicate with customers, it will likely result in many angry posts and reviews that you might not be able to recover from later.
Plan for a Long-term Shutdown
If you are required to close your business temporarily, realize that it is apt to be much longer than two weeks. As a gauge, consider how long China’s businesses have been closed.
It is still unknown what is going to happen with this virus and the extent of its effects on business and the economy. Talk is taking place now about possibly shutting down America for two weeks or longer. Be prepared in advance.