1) A Strong Continuity Plan
If there is anything that COVID-19 has taught the business world, it is that continuity plans are essential. This is your plan for what will happen if you are unable to use your main workspace or lose some other key resource. By setting up a plan that will allow your business to continue even in the event of an interruption, you can be ready for the ups and downs of COVID and any subsequent lockdown orders.Of course, this doesn’t just apply to the pandemic. You may need a continuity plan to help you deal with a natural disaster such as flooding in your building. Continuity planning will force you to think in more flexible and robust terms. For example, you may move all your IT infrastructure into a managed setup.
2) Remote Working Tools
To help your people continue to work during COVID, you should have a strong selection of remote working tools. This includes software such as video conferencing, instant messaging, online project management and more. Additionally, it is helpful to set up a virtual private network and other remote security tools.Getting all of this ready can be challenging and your software needs to be maintained. It is a good idea to start working with the best IT company in Missouri or whatever area your business is located in. With the help of managed IT services, you can ensure that your business is ready for COVID and other interruptions.
3) Extra Working Capital
Another key lesson from the pandemic has been that businesses need extra working capital. So many companies found themselves in dire straits very quickly after lockdown orders started coming out. This included Fortune 500 businesses as well as small- to medium-sized companies.It is a good idea to make sure that you have a comfortable war chest at all times. Additionally, you may want to pursue financing such as a line of credit. This can give you the extra cushion you need to remain secure even if something like COVID happens again. As mentioned above, this may be a different type of disruption such as a natural disaster.
4) A Flexible Business Model
Think about how you bring in sales. Are you limited to doing all your business on-location? What happens if your customers want to keep buying from you but can’t reach you? Do you have multiple offerings in your catalog or just one key product or service?It is a good idea to think about how you can diversify your business model. While you don’t want to stretch yourself too thin, adding an e-commerce store may be a good idea, for example. In short, part of your plan for continuity should be being able to make sales even when normal operations are interrupted.
5) Community Engagement
Communities really rallied together in many areas to support local businesses. This can be a really valuable resource if you engage with your community. However, if you are distant from those around you, they may be less ready and willing to help.Of course, stores and restaurants tend to have a lot of local customers. However, a software company may not. It is a good idea to give back to your local community when you can during the good times. Consider sponsoring local events and getting engaged.
