Prepare your business to survive Covid-19
Involve senior staff and owners of your business. Aim to come out of a short but possible Global Financial Disaster.
Plan for the worse. Aim to be strong leader for your industry. A group of international Digital Agencies came together yesterday to discuss the realities of what’s happening and how to “hibernate” our company and our clients to be a bigger, stronger company in 2 to 6 months. Many economists predict that it won’t be till 3rd Quarter that business would be back to normal.
The first order of the day is riding out the storm caused by the Covid-19 Quarantine
Some industries will be impacted more severely than others like tourism, services, events, and anything related to handling big crowds.
Be open to other ways you can use your resources.
Adopt a “We are all in this together” attitude with your staff. Reveal the hard facts to your employees. In turbulent times income drops faster than expenses. Change salary structure. Consider a Start-up business model of how salaries are distributed. Each employee receives a sustainable salary and according to company’s performance dividends, bonuses, profit-sharing is rewarded to employees according to set criteria. The more an employee has at stake the more that employee is committed to the success of the outcome.
Plan out the next 6 months
- What will your staff be doing.
- How can your staff participate in cutting all unnecessary expenses NOW. Assign this task to all to bring forth ideas. All ideas will be considered.
- Be transparent. If anything changes and impacts past agreements promise to update staff immediately.
- Re-evaluate weekly.
- What are your technical needs if you were to allow staff to work from home?
- Online Streaming Platforms. Video Conferencing Platforms. Online workshops, classrooms, etc.
- Whatever your needs the platforms are available. Zoom is great for short online meetings. Fairly inexpensive and great features in the FREE version. Zoom is built for webinars. Their maximum attendance is 500 logins to your call at a cost of $19.99/host/month
- Online Streaming Platforms. Video Conferencing Platforms. Online workshops, classrooms, etc.
FREE version of Zoom offers :
Host up to 100 participants
Unlimited 1 to 1 meetings
40 mins limit on group meetings
Unlimited number of meetings
Online support
Education Conferencing options
P.S.
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