3 Tips For Your Business During COVID
The growing uncertainty of today’s economic environment can lead companies to question how they can survive in the midst of a pandemic. Businesses are being transitioned to remote operations, and some are closing completely. Employees are being furloughed, and companies are wondering how they will remain solvent.
Despite a changing economic environment, there are measures that can be taken to help secure the success of your business in the long term:
Stay connected to your employees:
If you have had to furlough employees, you should try and stay connected to them. Check-in, see how their family is doing - be empathetic to their situation. Show your employees that you care about them and their health. Provide them with updates on the status of business operations. These actions will help boost their morale and will motivate their performance upon returning to work.
A customer is still a customer, even if they aren’t paying:
It is likely that your company is unable to provide the same type of service to your existing customers during this time. That’s ok. You should still be engaging, and connecting with people. While they may not be spending money now, they will in the future. Many people are in monetary conservation mode, and customers want to know that you still care about them, even if they aren’t buying your products. Send emails, make phone calls, and let them know that you are there to help however possible.
Find new ways to add value:
This is true regardless of a pandemic. As a business, you should always seek to add value to the consumer, regardless of what sector you are in. Determine what it is that the customer might value during this time. Once determined, you should pivot and produce. It may be something seemingly unrelated to your traditional business offerings, but if you can provide value to the customer, then you will thrive.
Eventually, everything is going to return to normal. The actions that you take now as a business, will ultimately determine your success in the future. Everyone will remember how your company responded during this critical time in all of our lives.
Meet the Author
Bryan Graniè, M.S., MBA, LMFT
Bryan received his Bachelor of Arts degree in Psychology from Florida Atlantic University, as well as his Master of Science degree in Marriage and Family Therapy from Nova Southeastern University. He holds a Master of Science Degree in Business Administration at Florida Atlantic University. He is a Licensed Marriage and Family Therapist in the state of Florida.
