In these uncertain times I am guessing many are immediately panicking and trying to stop spending, cut budgets etc. This is not the time to do so completely. We have to support one another's businesses so when this is over, we are ready to continue moving forward.
Having said that, it is optimal time to reconsider your business model.
So this is what I am thinking. My business is based on other businesses being strong. In this scary time certainly we all worry about how this will work out. My approach is to let businesses know I am here and available to help you. I continue to build my online consulting support. I see clearly that's where this generation and now through this pandemic, is where we all are, especially now. So I am spending money in that direction to reach as many as I can. I am offering free support to help people during this time. I am here for management of your existing staff as well as here to help you think through organization structure moving forward.
What are those business compliance things you have put off. What can you focus on now? What should you focus on now?
You need to take the time to assess who your "essential" personnel actually are and this is the time to do so. Be sure job descriptions are up to date, detailed and compliant. Determine as you might have to change your business model, what might happen to the positions that you need. Design positions needed based on function NOT person or you won't be objective enough.
Develop the idea of what your structure will look like. Do you have too many higher level positions. So often many companies do.
Can you outsource some functions such as HR, IT, Finance and Marketing? Each of these specialty areas easy enough to outsource to receive the best quality support in each area. Doing so will allow you to improve the level of such support as you can afford higher level expertise hiring consultants.
What policies do you need to review? What do you want to consider modifying? I can guide this and work with you to get the best practices in place.
Stop and be sure your employee handbooks is updated, it will need changes after this pandemic, there are already so many changes with leaves etc.
Can you do more with less? I'm sure you can. I can help you think through this as I do so many others.
Do you have a strong approach to managing performance? If you don't, you need to have something in place, small or large, it's an essential function of any business owner/manager.
Can you consider having working from home the norm? It can be a huge cost savings. You just need strong policies, job descriptions, written expectations and formal work guidelines.
Can you seek smaller office space to save money?
Some of my clients stopped to realize those positions that truly are easy enough to have remote locations. Some also realized some positions aren't necessary moving forward. This forces you to rethink your true purpose and goals of your business. Try not to be all things to all people, focus on what you are best at, that's when you will be most successful.
Don't just let time go, be active and consider these steps to moving effectively forward.