The Coronavirus pandemic has dramatically changed the way most companies work. Those listed as non-essential have been ordered to close in many areas, waiting for the all-clear to reopen. Even those still in operation have had to change how they do things to improve safety and comply with orders to reduce contact. In response to the crisis, many companies have moved to remote work, creating a new set of challenges.
Open or not, many companies have slowed down their timeline on projects and halted plans as they wait for things to get back to normal. Fortunately, even if you’re experiencing downtime, you can still be productive and set your company up for post-COVID-19 success.
Examine your vendors
From dental offices to online retailers, success is often tied to the reliability of a company’s vendor network. Many businesses have found this out the hard way, having their ability to operate disrupted due to vendor issues. This is a good time to take a look at your vendor list, source new options for critical materials and even investigate alternative materials where possible.
Reconsider procedures and workflows
Making changes during busy times can be difficult and disruptive. This makes the current situation optimal for implementing new procedures and solving your company’s workflow problems. This could include trying out new project management methods or implementing new software to help you manage human resource tasks, payroll or time tracking.
Connect with your network
Having a strong network is always a good idea, but it may be critical for success once the COIVD-19 crisis has passed. You can take advantage of the slow down to re-engage with your network. This can be as simple as sending helpful information in an email or touching base with a quick phone call. You can also reconnect with people on social networks like LinkedIn by engaging with their personal and company posts.
Improve your marketing
Marketing often takes a back seat to other critical areas during economic uncertainty, but that doesn’t mean you should ignore it completely. You can use the downtime to get hands on with your marketing efforts. A little extra work now can ensure that your name is on everyone’s mind when the economy does get back on track. You can do many things to stay in front of clients and prospects, including:
- Create social posts on professional platforms and industry forums. This includes commenting on the posts of others.
- Use email marketing to offer tips, ideas and helpful resources.
- Run digital ads, including social ads, to increase website traffic and overall name recognition.
There’s no doubt about it, the situation created by COVID-19 has shaken the economy and disrupted businesses across the globe. While we may have to wait for the crisis to resolve, we can use the time to be productive. By taking a look at vendors, examining processes, reaching out to your network and ramping up marketing efforts you can set your company up for success in the post-COVID-19 economy.
The material presented here is educational in nature and is not intended to be, nor should be relied upon, as legal or financial advice. Please consult with an attorney or financial professional for advice.