Coping with COVID-19 as a Small Business Owner

COVID-19 has disrupted many businesses, and many small businesses are feeling the effects of this disruption acutely. But this pandemic doesn’t have to be a crisis for your business! Check out these 8 actions you can take today to help you cope with COVID-19.

Plan and Organize

First, take the time to make a plan. In addition to planning how to navigate this crisis, it’s a good time to reevaluate your business and how it’s organized. Look at your operations with a critical eye. What will happen if the pandemic lasts for another two weeks, four weeks, or six weeks? What steps are needed to ensure your business makes it through to the other side? In what ways do roles and responsibilities need to change? Is a major pivot going to be required if your business is to survive? If so, what does that look like?

Accomplish Longstanding Goals

As business slows down, this might be a perfect time to accomplish your longstanding goals. When planning your internal COVID-19 response, look at goals and necessary tasks that have been previously set aside in favor of more immediate needs. You don’t have to just spend your time in quarantine organizing your bedroom closet—what projects have you been putting off at work that you can complete now? At Minute Marketing, we have seen a lot of people checking off items that have been on their marketing to-do list forever!

Protect Your Employees

As a business owner, it’s important to be a leader to your employees. One of the most important ways you can demonstrate leadership is to protect your employees by keeping up with the latest news and information surrounding the pandemic. Review your policies and communicate any changes clearly and efficiently to your team. With so much information about the pandemic in the news and on social media, there are also going to be many rumors and false facts passed around. Make sure to verify your news sources and protect your employees by keeping up with the latest state and county regulations so they know that you’re taking their safety seriously. Additionally, establish a clear communications policy. This will make it easier to check up on your employees and ensure they’re staying safe and healthy. Check out the CDC site for tips and recommendations.

Work from Home

If you're new to remote work, you may be surprised at what a challenge it can be to stay productive while working at home. Whether you are over-productive and can’t put your work away, or under-productive and finding it difficult to focus, working from home is an adjustment. But one of the best ways to get yourself back on track is to establish a routine. Get dressed as if you were going into the office, and work a normal day. Give yourself a structured lunch break and create a shutdown routine at the end of the day to help you draw your work to a close. And, don’t be too worried if it takes time to adjust to your new work style. An adjustment period is normal!

Apply for Small Business Loans

Small businesses are taking a hit from COVID-19, but with a stimulus package passed, there’s a chance for financial relief. Check out the Small Business Administration site for information on federal loans and how you can apply to them. Also check out this list on forbes.com for potential state or local loan initiatives and how you can take advantage of them.

Practice Positivity

Keep an optimistic outlook by practicing positivity. Maintaining a positive outlook will help alleviate worry and stress, making it easier to navigate this crisis. Share things that you are grateful for, build positive connections with your community, and take the time to connect with your vendors and customers on social media. For more suggestions, check out our blog on practicing positivity here.

Look for Opportunities

Don’t just try to weather the storm but take initiative and look for opportunities. You might be in a great position to purchase a struggling competitor’s business. Or, you might have the option to snap up new talent as other businesses lay off or furlough their workers. Finally, your business might be in a position to do a quick pivot, launch a new virtual product, or partner with another business to increase opportunities for both of you! Brainstorm with your leadership team to see what potential opportunities are available during this crisis.

Communicate Clearly

Communicate clearly and openly. As your leadership team and your employees face fear and uncertainty, it is more important than ever to be open and upfront about the situation. Instead of letting your team spread rumors around the virtual water cooler, get in front of it. Sharing a positive and empowering narrative about what you’re doing to keep everybody safe and productive will keep your business strong throughout this crisis and beyond.

These are difficult times, and it can be a struggle to navigate this unprecedented crisis. But no matter what happens, as long as everybody takes measured and educated steps, we will get through this. As the saying goes, this too shall pass.

What methods are you using to help navigate this crisis? Let us know in the comments below!