- Manage your cash flow
During the pandemic, it is always good to take advantage of government relief funds, resources and schemes that are aimed towards helping businesses to strive during the period.
- Establish and maintain connections
When the operation of your business makes you overwhelmed you might feel alone, however, there are others who are facing the same circumstances as you are. Keep contact with persons in your circle and other small business operators, as this helps to keep you motivated.
- Prepare a financial/ survival Plan
Implements ways in which you can reduce spending, with the aim of keeping the business afloat. Take a look at how you can cut costs, usually the biggest cost would be your employers and your office rent and expenses. You could consider a work from home option with less hours and reduced salaries.
- Communicate transparently with your staff
Be clear on matters that pose a threat to the business, at the same time encourage your staff to stay focused and maintain a sense of composure.
- Keep customers informed
Communicate with your customers. Reach out to them directly, and let them be aware of events and changes that may affect or impact them in any way. Share business updates on different platforms such as social media and the company’s website. For customers who are not technologically savvy, reach out to them by mean of a phone call.