Guest blog by Elena Stewart
Between a lack of customers and an abundance of restrictions, many small business owners may feel like they are in some sort of limbo. If you are one of these small business owners, there are a few strategies you can try to keep your finances afloat without sacrificing your entire business. Take a deep breath, take a step back and then put these resources to work.
Health & Safety Should Always Come First
Weigh your options when it comes to implementing tech and policies that will preserve your profits and of course, your health.
- Be sure to review the most current CDC recommendations and guidelines regarding COVID-19.
- Also check in with your state’s health department to see what public health orders may currently be impacting your small business.
- One way you can acclimate to coronavirus is to embrace remote work capabilities whenever possible.
- You can also find free business tools, including signage, to ensure health and safety protocols upon reopening.
Tech Will Be Absolutely Crucial for Reopening
Tech will be essential for retaining customers and keeping your business protected, so use any downtime you have now to upgrade your tech systems.
- If you will be transitioning your team or business to remote work arrangements, implement tools and strategies that keep everyone connected.
- Update your systems and make plans in the time away from the office.
- Protect your business with enhanced cybersecurity, especially since criminals are taking advantage of the crisis.
- In terms of reopening, streamlining payment systems may be your best bet for efficiency and safety.
Financial Help is Available for Businesses In Need
Despite an overwhelming demand, there are still financial resources available that can help your business stay open.
- From federal to state resources, there are still grant and funding opportunities available to help businesses affected by the COVID-19 pandemic.
- There are even special funding opportunities that may be available to women or minority owners of small businesses.
- It may also be helpful to look for ways to trim your business expenses.
Few things are certain right now, but one thing is: we will overcome this crisis. Even though we don’t know when and how, rest assured that the world will eventually move past the coronavirus pandemic. Until then, businesses have to find ways to survive.
Elena Stewart is a certified life coach who specializes in the teachings of Brené Brown, Danielle LaPorte, and Marie Forleo. She successfully transitioned from the corporate world to running her own business, and she now helps others achieve their career goals and dreams.