Coronavirus has forced businesses to shut down and people to stay home. The reason for this is simply to flatten the curve of the spread which was recently declared a global pandemic by the World Health Organisation.
If you are a business owner, founder, entrepreneur or you run a side hustle, you might be really worried or find it difficult to keep calm because the COVID-19 pandemic may have an impact on your business.
Your anxiety is legit. However, it is important for you to unearth ways to keep calm so that you don’t lose your sanity and this article by BetterHelp provides hacks to help you manage anxiety during coronavirus.
As you go ahead to manage anxiety to help you keep calm, do not forget to apply these tips to protect your business from coronavirus.
Create a plan
The first thing is for you to have a plan on how to run your business despite coronavirus. The plan should highlight how you are going to protect employees, how you are going to serve your clients remotely, and how you are going to managed expenses during the coronavirus period (will you lay off or outsource more of your jobs). Your plan needs to answer these questions.
Have a work from policy
Working from home is the new normal. If you do not provide essential services, your workers are likely to work from home. So, what is the work from policy? Will there be online meetings daily? Should workers sign in and sign out? Should workers send daily reports? What is the turn around time for responding to customer complaints and inquiries?
Pivot to other business verticals if you can
As a business owner during this coronavirus pandemic, you have to be innovative and think of ways to ensure your business keeps running despite COVID-19. One way to do this is to pivot your business to other verticals. For example Bolt, the ride-hailing firm now offers delivery and logistics service. You can do the same.
Search for funding opportunities
Funding may be difficult to come by during coronavirus. However, there a handful of investors and venture capitalists who might be willing to fund your business as long as you have a good value proposition. So, research funding opportunities and start applying.
Keep your employees updated
Regardless of the status of your company, do not leave your employees in limbo. Always ensure that you keep them updated about happenings in the company as it relates to the coronavirus pandemic.
