5 Business Priorities After Lockdown


No person, business or even country was ever prepared for this pandemic. We were all caught off guard and our businesses are suffering tremendously from the effects of this virus. 

Needless to say, here are 5 things we should take seriously right after the government takes away the quarantine. 

1. Create a BCP. This may not be applicable the next day but no matter how small or big your business is, a Business Continuity Plan is a MUST. Take the BPO sector for example, the moment lockdown was advised, they immediately activated their BCP's by sending employees at home with their laptops and even desktop ensuring their business' continuity and their productivity unhampered. In the same manner, your BCP can also be activated in cases of natural disaster, war, etc. 

2. Review every contract you have. Whether it's lease of contract, a supply contract or any legal papers available, kindly consider your preparedness for any of this thing to happen. This is the part where you include in your contract any force majeure that prevents you from paying the rent and other fees. It should also be very specific that in cases of force majeure or any government initiated lockdown or closure, you as a lessee shall not be obliged to pay any monies to your lessor.

3. Check out how you can digitized your business. Yes, that's putting your business online. Majority of my clients have placed their businesses on the online map only during Covid-19. No matter how I convince them to do it prior, none of them act decisively until this pandemic. Whether you are a grocery store, a food outlet or a small venture, putting your business on the digital world will make your profit keep running even on natural disasters while keeping the cost at a minimum.

4. Develop an extensive and strategic recovery program. It has been said that after a storm, there's a rainbow. There's a light after the tunnel. The answer is, not always. You have to create that rainbow and you have to switch on that light. Creating a recovery program should be incorporated in your BCP. For food outlets, your recovery plan will include promotions, discounted rates and even adding entertainment in your dining area will entice people to come out and visit you.

And last but never the least. 

5. Don't fail to thank your employees. These are your people. From rank in file to managerial posts, these people did not leave you in times of Covid-19. Thank them for staying with you all throughout and don't fail to motivate them. In the same manner, establish a reward system for their dedication, hardwork and efforts. You may think this is going to be another cost but remember that more than your capital investment, your people are your best asset to keep your business on the go. Whether you like it or not, you can't survive the pandemic without them!

If you need help in your business after Covid-19, feel free to drop us some lines!

We will be very happy to assist!

Cheers! 🥂 

No comments:

Post a Comment

Pages