What should be your business priorities post lock down?
Coronavirus has not only affected our surroundings, loved ones, and people, but also businesses and economies around the world. Although a consensus has developed around the utilization of remote operations and social distancing to slow down transmission in some high-pervasiveness settings, a couple of nations, for example, Sweden, are seeking an option “crowd invulnerability” procedure concentrated on ensuring the most helpless populaces while utilizing just restricted removing measures to smooth the bend for other people. The objective is to maintain many aspects of economic and social life today and, over time, to create a large enough pool of exposed people (about 70 to 80 percent) to “protect the herd.” Other countries are closely watching the outcome of this approach.
The months ahead will likely be very unpredictable and dynamic. It presently shows up likely that a few spots will encounter a local resurgence as limitations are lifted and economies revive. That will impact nations at the earliest stages. For instance, Singapore has seen a resurgence predominantly from imported cases, which have led to local transmission; this proposes restrictions on global travel may proceed. As China gradually reopens, the strategies it utilized (including group-based isolation models and setting a norm of wearing masks in the workplace) and their adequacy will inform approaches the world over. Western Europe’s involvement with loosening up limitations, and the best methodologies there, will educate the methodologies sent in the United States.
So now when you are planning to revive your business again. What immediate attention should be made to minimize the future impact on businesses post-lockdown?
While this is a time for everyone to reset their lives, intentions and start with the new normal. For most entrepreneurs & business owners, this period is to…
Discover the solutions/services that benefit the market realities as well as pair up with your business products & services. Some of the best start-up ideas such as Whatsapp, Instagram, and Uber were founded during the last 2008 recession.
Start planning for how to return back to resuming business activities to the new normal as soon and safely as possible.
Arranging for employees to continue to work from home for a few more days would be advisable. All operations are not possible from work from home. But yes those who can, should exercise this for more than 15-20 days as a safety precaution.
It’s time to go lean and cut off unwanted expenses. Those may include unwanted travels, and gatherings. For instance, Get rid of unwanted expenses like an extra Internet connection, monthly subscriptions which aren’t needed, and so on.
Monitor Business Operations
The major issue a businessman may face after a lockdown is the unavailability of a few suppliers or employees immediately after the lockdown. Explore the alternate options as a backup plan. Who knows this could turn out to be a cheaper yet effective option.
Communicate With Your Employees
There’s likely a hesitancy to establish a routine level of communication with your employees as the uncertainty of the crisis continues but we cannot leave people out of the loop. Phone calls are better than emails. Write down your bullet points, start dialing, and commit to routine communication. Your employees will never forget it.
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