There's no doubt about it: the recent pandemic has taken its toll on business owners the world over. Not only have they been forced to find new ways of working, but they have had to intensify risk management, too. It's been a tough few months, and for some businesses, closure has been the consequence. If you're a business owner yourself, you will fully understand the difficulties that the pandemic has caused. But if you have managed to stay open, now is the time to learn from the lessons the pandemic situation has taught you.
By Team Savant
Image: Edwin Hooper
These lessons include:
#1: Always Be Prepared
Nobody could have predicted the problems the COVID-19 virus would cause, but in hindsight, you can look back on the ways you may have been ill-prepared. This will stand you in good stead for any future disaster that might befall your business.
So, you might consider your finances. Did you have an emergency fund in place? You will have given your business an extra financial cushion if you did. Be sure to make extra savings from now on to protect your business in the future. You might also consider your employees. Were they already equipped to work remotely? If so, it might be that the transition to home working would have been easier for you and them. Be sure to consider this possibility for the future.
Think of all the other things you should have been (or were) prepared for, and re-draft new risk assessments to accommodate them.
#2: The Wellbeing Of Your Staff Is Paramount
At the heart of every business is the hard-working people within. After lockdown, you will have had to adapt your business premises in an effort to keep your employees safe. The alternative is unthinkable, as your business and your employees would have suffered terribly if the virus was given the chance to spread.
Going into the future, keep the wellbeing of your employees in mind. COVID isn't the only thing your staff members have to worry about, as there could be the added risk of other infections if hygiene isn't considered. Then there are the issues of stress and burnout, which are common reasons why employees need time away from work. Manage this by reducing your employees' workloads if they are clearly overworked.
By taking care of your employees, you will serve their best interests. You will also protect your business, as you won't need to worry about a workers comp lawyer should an employee decide to sue you, and you won't need to worry about gaps in your workforce either.
#3: Adapting Is Key To Business Success
If you have managed to stay open, you will have learned to adapt. You will have found the technologies that can allow your employees to work remotely. You may have adapted your marketing efforts too, perhaps in an effort to reassure your customers that you were still there for them. And you will have adapted your spending to the pandemic situation, as in an effort to save money, you will have had to make cutbacks.
By adapting in such ways, you will have given your business a fighting chance of staying open. Be ready for the future then and try to look ahead at potential challenges, and how you might need to adapt to meet them.
These are just some of the lessons you can learn from the pandemic. Reflect on other lessons you may have learned, and keep them in mind to ensure the long-term future of your business.