COVID-19: 25-point action plan for small business owners

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.