Business Survival Tips for COVID-19 “Peak Week”

By Liz Elting

Keep a cool head. 

“We’ve been warned to expect a huge surge in mortality in the very near future, and it cannot be overstated how hard it will be to cope with. It’s critical you keep your composure, especially right now, because emotional decision-making is often bad decision-making. Focus on the data, not the news; you can’t control the mortality numbers, but you can control your own internal processes and strategies. Now is not the time to panic; rather, it’s time to hunker down and hold fast.”

Protect your employees. “Joblessness is spiking in a way we’ve never seen since unemployment insurance record-keeping began in the 1960s, and that’s got to have your team’s anxiety spiking too. People need assurances that their jobs are safe, even in the midst of this, as much as is realistically possible. Luckily, the CARES Act has created a system for paycheck protection loans designed to alleviate layoffs. If you’re in a position where you may have to begin letting people go at this worst possible time, it’s worth looking into whether or not your business qualifies.”

Maintain normal operations as much as possible. “There is always work to do. Emails need answering, clients need servicing, files need maintenance, even birthdays need celebrating. You and your people alike need normalcy, and the best way to maintain that is to keep chugging along. We’re all stuck at home in the midst of an onslaught of bad news, and we need to stay occupied. Thankfully, there’s no shortage of things that need doing. Work especially hard to keep your team focused this week, and the machinery working. This isn’t going to last forever.”

Show up for your clients. “There remains in the middle of this mess very real business opportunities, and I’m not talking about price-gouging or profiteering. Your clients are still out there, and they’re as scared and uncertain as you are. Times of great stress and difficulty can foster even stronger partnerships. Be there for your clients. Start looking for ways you can provide them with a solution to their problems; how has the pandemic affected their lives and their businesses in ways you are uniquely suited to relieve? Building client loyalty has never been more important because everyone is cutting costs. If you’re able to anticipate and meet the unique needs of your clients during these times, you’re far less vulnerable to lost business.”

Lead with hope and positivity. “These are uncertain times, but they will not last forever. The worst will pass, the clouds will part, and we’ll all return to our lives. It’s up to you to keep that candle lit in this darkness, for yourself and your team, so that you all remember that there is a tomorrow, a light at the end of this tunnel, and we’re going to make it there together.”