Society is changing. That changes how we work. It’s changing quickly and will continue to be a fluid environment for some time. Here is my 25-point action plan all businesses can use (whether you are an essential service or not) to improve your business right now.
Team Communication
Communicate existing workplace wellness, work-from-home, sick and PTO policies – use emails, voice mails, record a video and use clear signs on doors.
Any team member or those with a family member showing signs of sickness must stay home.
If a team member COVID-19 case is confirmed, inform others but respect confidentiality.
Physical Environment
Provide on-site stock of sanitation supplies.
Engage cleaning service for deep cleaning.
Train team members on best practices for team contact and social distancing – and remind them via email with physically posted signs.
Leadership
Communicate often with your staff – consider multiple mediums such as video.
Show concern but not panic.
Take care of your team first. What can you do to better the team at this time, such as new tools, industry purchasing packages, or just arranging a food basket?
Business Continuity Planning
Ensure all team members who can work from home are setup to do so.
Test work-from-home procedures and technology.
Develop strategies to conduct business without business travel for an extended period.
Cross-train team members especially where you have a single point of failure.
Customer Impact
Assess potential impact/delay to customer shipments/service.
Communicate with customers whether or not you expect a service impact.
Supply Chain
Evaluate potential interruption of any points of the supply chain.
Ask suppliers to provide their continuity plans.
Review contracts with key suppliers.
Evaluate alternative vendors and suppliers.
Revenue Impact
Develop alternative strategies for acquiring customers that do not require in-person contact.
Develop plans for a 25%, 50% or 75% decrease in revenue.
Review business disruption insurance for adequacy.
Evaluate products, services and markets for new revenue streams.
Cash Position
Evaluate your balance sheet and cash position.
Reduce fixed or discretionary costs wherever possible.
And if you’re in need for some specific insight tailored for your business, then contact me. A lot of our members are doing extremely well in this environment. To know where the opportunities are, set up a call with me today.