With the onset of COVID-19, many people are wondering what the future will look like for them. Especially if their income relies on customers coming into their store. There have been several businesses that have no choice but to close to prevent the spread of the virus. And a closed-door means no income. It is times like these that show how important it is for each business to have a plan for emergency situations. Here are some tips on how to create a plan and get through a crisis.
- Save money for an emergency. Since we are already dealing with the effects of the virus this tip may not be helpful to get you through this crisis, but it is one of the most important things you can do. You never know when something like this will happen and so it is crucial to always have a little set aside so you can make it through anything that might come your way.
- Ration and cut down on your spending. Create a plan and assess what expenditures can be removed. You may believe you have enough set aside but if your business is forced to close for longer than expected, you will regret not rationing the resources you have. If you have a plan for rationing and cuts, when the time comes you will not have the added stress of figuring out how to cut down on spending.
- Understand the fears of your customers but do not let the fear get to you. You know all about empathy and how to make your customers feel taken care of. When a crisis occurs in the country, your strategies should be no different. Understand that many of them are scared and unsure of what the future will be. If you want them to continue coming to you for business, you must show them you are there for them. Many businesses are sending emails to their customers to let them know what precautions they are taking to prevent the spread of the virus. Consider doing something along these lines if you have the ability.
- Know it is okay to feel scared are unsure of the future. Being scared is a normal human emotion and it can make people do crazy things. There is no need to feel embarrassed about the way you feel. Most of the world is probably just as scared as you are and that is okay. If you need to, take a break. Go for a walk or try yoga or meditation. Do what you need to do to get your head in the right place again and then tackle what needs to be done.
- Prepare for the worst and expect the best. Prepare yourself for the worst outcome possible. It is likely that the worst will not happen, and you will be pleasantly surprised when the outcome is even slightly better than the worst outcome possible. You may lose everything and that can be devastating. But, just remember that you started out with nothing to begin with and you still got to where you are today. You can do it again.
Hopefully, when you started your business, you put a plan in place to prepare yourself for emergencies. If you did not, that is okay too. You can still make it through a crisis if you keep a calm head and understand that it will not always be like this. Things change every day and you just need to roll with the punches until it all works out.
Posted on Mar 17, 2020