Businesses in Pandemic: A Moment of Rebooting

  • Understanding and sticking to the core principles of self-isolation 
  • Following all the recommendations concerning the virus prevention 
  • Making it clear with the staff about the pay and absence moments 
  • Being flexible, creative and quick thinking under new reality conditions 

(Main tips for business owners to use in the Covid-19 times) 

Covid-19 is something we have already got accustomed to hearing, realizing and, unfortunately, even experiencing. World business has suffered bitterly from the Covid-19 pandemic. This is not a hypothesis but a statement. Meanwhile, in the midst of global fuss and tumult, a part of businesses does experience hard times, which makes it necessary to rethink the aims, tasks and capabilities existing. 

What hardships and risks the entrepreneurs have faced?  

  1. Limited financial budgets, directly related to the business’s scope and expertise;  
  1. Lack of experience working distantly: WFH model caught them suddenly and ‘broke’ them.  

During the period of strict quarantine, the strengths and weaknesses of every business became apparent.  

While the crisis was gaining momentum, the heads of the companies/departments first of all focused on: 

  • expenses reduction. A part of the company’s expenditures could be either optimized or even liquidated. Under the new normality conditions, the ‘healthy cost-development harmony’ is what matters most of all; 
  • contract terms revision; 
  • the working mode of the team (shifting to WFH). It was of utmost importance to carefully consider all the possible nuances to make the new working scheme effective; 
  • products and services development and improvement. Detailed analysis and careful planning; thinking out new ideas to meet the uprising demand of the population at the moment, being flexible and ready to change: the moments put on the agenda for those willing to stay afloat and go on with the development; 
  • building a perfect awareness of ‘who is with me’ and ‘for what purpose’. Can I delegate some of the work to virtual assistants, thus reducing office costs? Creating an inclusive workforce is one of the cornerstones presently; 

In its turn, the next step was: 

  • to pay attention to those moments of business, which in the conditions of daily routine were not fully covered and required additional time. During the company’s growth, the time needed was not always enough, but they were clearly a source of income for the company;  
  • to focus on the own website and social networks and, if necessary, make updates. Moving online is a so-called trend for modern businesses in terms of development and growth. 

Finally, the third but not least, even the one of crucial importance, was the right response to the needs of the team and emotional state. 

  • Is everyone comfortable working from home?  

We tend to say that a short time period is not a problem, while a period of more than 3 months has a significant impact on the quality and performance. 

  • Is every business owner ready to follow the online process every day? 

If the team has been working for a long time and understands each other perfectly, it is not a problem. If the team is new, it definitely takes much more emotional effort to get the desired result. 

What else could be done to support a business?  

  • A clear understanding of what to do in the worst early closure case scenario; 
  • getting used to the reality that has become a part of our lives. Involve a team of employees who are used to working online and delegate some of the tasks to them; 
  • understanding the availability of support from financial, tax and government agencies. If you need banking, government assistance, grants, etc., and you need to conduct an appropriate search for information, the very same online employees will be able to do it for you 

Bottom Line 

All-in-all, stop to think and implement the things you have never had enough time to tackle.  

New models, a resilient, engaged, flexible workforce still not compromising productivity and quality will definitely become a good platform for your business growth during the pandemic and will soften the blow considerably. 

The road ahead is filled with innovation, creativity, adjustment… In order to stay successful, just focus on connecting, listening, communicating, collaborating, etc. Nowadays, support and assistance are highly essential.  If there is something you lack critically, we have got what you need no matter profound assistance or mere consultation.