Ways to Protect Your Business During COVID-19

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Ways to Protect Your Business During COVID-19

Ever since its emergence, the COVID-19 pandemic has had widespread effects on companies across the world. Some were forced to close due to lockdowns and travel restrictions, while others had to deal with supply chain delays and a sudden rise in prices. Even though the outlook does seem a bit brighter at the moment, the pandemic is still presenting some challenges and forcing a number of organizations to rethink their practices in order to survive. If you want to protect your business during COVID-19 as well, follow these tips to keep your company healthy and safe:

Focus on flexibility and agility

The first step to protecting your business is assessing the impact COVID-19 could have on your operations and then developing contingency plans for each scenario. For instance, how can you accommodate for critical personnel suddenly becoming sick or for consumers closing their operations for several weeks or months? Adapting more flexible and agile business practices will be crucial for surviving these circumstances, whether that means lowering your expenses, aligning your workforce, changing your target demographic, or offering new services such as e-commerce platforms and contactless deliveries.

Find alternative solutions

From lockdowns and restrictions to ill and quarantined employees, COVID-19 has forced us to change the way we work in more ways than one. In order to adapt to this new situation and streamline your business operations, allowing your teams to work remotely might be the ideal solution. This will enable both those who prefer and those who are forced to stay at home to continue performing their job productively and efficiently. You could use specific collaboration software like Slack or Google’s G Suite, but the most important thing for streamlined operations is communication through online tools, regular video conferences, and one-on-one check-ins.

Put health and safety first

If you’re focused on in-office work, you need to implement certain health and safety practices that will protect you and your employees, such as using face masks and gloves, including plexiglass barriers, maintaining a safe distance, or even implementing vaccine mandates. Maintaining a clean office environment is also essential, which is why contacting professional cleaning services like Cleaneroo might be the best option. Such a trusted and experienced company will ensure your space is sanitized and clean enough for daily operations, whether you’re running a traditional office or even a medical center that requires additional disinfection.

Communicate with suppliers

Supply chains are still constrained across the globe. If you work with international suppliers, it’s best to reach out to them and confirm whether and when existing orders will be filled. If possible, you might also want to negotiate your terms, including payments and deadlines, in an effort to lower your costs as prices surge all around. Communicating with your suppliers will help you to lower risk, plan and organize your operations more efficiently, and avoid disappointing your customers.

Communicate with consumers

As you make changes to your business model, plan, and practices, you might notice an impact on your cash flow as a result. Understanding these changes and creating a cash flow projection might be of help. Start by contacting your consumers and confirming that existing orders are still on track, to maintain good relationships. Then, ask for receivables from consumers that owe you money to get some cash moving, or even offer additional products and services to your customers in an effort to bring in some additional cash during these trying times.

COVID-19 has presented some unique challenges and life-changing circumstances for many companies around the world. While this situation might be unprecedented and entirely unpredictable, you could still protect your business during the pandemic just by following the helpful tips mentioned above.

Diana Smith

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