The Clay County Public Health Center has released steps for a Business Recovery Plan. We encourage businesses to become familiar with the first step in the recovery stage, which begins May 4, 2020. It is estimated that most steps will cover a four week period.
Inc.com recently published “6 Actions to Take in the Next 90 Days to Save Your Business” by Brian Hamilton.
- Vigorously do what you can. Vigorously ignore what you can’t control. You can’t control the economy, but you can control customer service.
- Guard employee morale. Use honesty mixed with a plan that employees can buy into for your financial condition.
- Preserve cash where you can. Now is a good time to minimize excess expenses, but be cautious with people-related expenses. Be loyal to employees, if possible. It is necessary to think long-term.
- Be first in line. If applying for a loan or government assistance “push” your bank appropriately.
- Get back to the basics — starting with monomaniacal customer service. Entrepreneurship is about competition, and you have to outwork the competition on customer service.
- Pivot your product or service to new conditions. (For our local restaurants that has been pivoting to curb-side service, carryout, and delivery to bring in revenue and keep employees on board.)
As a small business owner, we share the stress of operating with new challenges. If you want a review of your business insurance coverage or need to know if you and your employees have adequate health coverage, please don’t hesitate to call.