Surviving A Pandemic: 9 Fail-safe Business Survival Strategies
A pandemic is one of the worst things that can happen to a business. It can bring your operations to a halt, cost you valuable time and money – and even put lives at risk. But it’s not just about business; it’s about people too. If you want your employees and customers to be safe, then you need to know the steps to surviving a pandemic outbreak.
This season is no doubt a difficult one for individuals and most especially businesses as the pandemic presents many challenges. Businesses are torn between ensuring public health and putting up measures that will boost the economy to ensure they continue to be in business and be productive.
Fail-safe Business Strategies for Surviving A Pandemic
With the pandemic, businesses are coming to the realization that they need to make some decisions and put measures in place that will enable them to scale through this season. Here are business survival strategies for small businesses, startups, and enterprises.
Understand the situation you are in.
The first step to surviving a pandemic is to understand the situation, and this means knowing what resources you have available.
- Understanding your business’s current situation: What are its strengths and weaknesses? What needs to change in order to be more resilient? Who do you need to communicate with regarding these changes (employees, clients, or partners)? How would this impact your operations during an outbreak—and how would it impact them after it’s over as well?
- Understanding potential risks: What could happen if there was an outbreak at this time or place? How likely is it that something like this will occur; how bad could things get if they do happen; what would happen if they did go very wrong (e.g., loss of life)?”
Look for government help available to your business.
The second step to surviving a pandemic is to get financial help.
- Government help: Local, state, and federal governments are often the first responders to a pandemic. They can offer resources, such as free vaccinations and medical care. They may also set up temporary shelters in schools or other buildings where they can quarantine citizens who have been exposed to the virus.
- Private sector: Many businesses will want to help their customers during a pandemic by providing free food or sheltering those in need until public services become available again. This could include local hotels offering rooms at reduced rates, restaurants holding special events with discounted meals, or gift card giveaways for customers who bring cash donations for relief efforts (which are tax deductible).
- NGOs: Non-profit organizations like churches and community centers may also be able to provide assistance when asked by government agencies because they usually have room for more people than just government employees—and there’s usually no charge!
Short-term measures are needed.
You need to be prepared for the worst. Surviving a pandemic means having a plan in place if your business has to close down temporarily or permanently, and having cash on hand in case of an emergency.
The pandemic will have a long-lasting effect. You need to plan and activate your survival mode for the long run.
It’s also important that you have a backup plan for how you will deal with customers, suppliers, and employees during this time. It may even be possible for you to keep operating as normal while also planning ahead for when things go down (or up).
The key is having an established process that ensures everyone knows what their role is going forward once the pandemic hits—so there aren’t any surprises!
Also read: SHOULD YOU BUILD A SMALL BUSINESS OR A START-UP?
Communicate with your staff and customers.
Surviving a pandemic also includes communicating with your staff and customers. You need to let them know what’s going on, so they can make decisions based on the information you provide.
This is especially true if you have any employees who may be worried about getting sick or dying from a pandemic, but if you don’t tell them how bad things could get, then they won’t be able to do their jobs properly during an outbreak.
Be sure not to lose your best asset – your people.
The most important thing you can do when surviving a pandemic is to make sure your staff stays engaged. If they get bored, complacent, or stressed out, they’ll be harder to motivate and keep on task.
You also want to make sure that you don’t lose any of your best employees as pandemic preparations start taking place: it may feel like an inconvenience at first but losing experienced workers will have a major impact on the type of work being done by your business.
Look at every possible way to generate cash flow.
Before you can start thinking about how to generate cash flow, it’s important to look at your current situation. The first step is to take a look at your cash flow forecast. This will give you an idea of how much money is coming in and going out each month, which will help determine if there are any major changes in the company’s ability to generate revenue or expenses.
Once this has been done, look at your balance sheet: what does it say about future earning potential? Do any debts need to be paid off? Are there any investors who might want their money back? If so, can these be paid promptly, or do they need time before being settled?
Remember that no matter what happens with these payments later on down the line—whether they’re secured or not—they still have value as collateral against loans taken out by investors who chose not to invest.
Set up systems and processes that will ensure you survive beyond the pandemic
To survive beyond the pandemic, your business must set up systems and processes that will help you survive. Your system or process should be able to handle all of your critical functions and provide peace of mind in the event of an emergency.
Here are some examples of systems and processes you could set up:
- A supply chain management system that tracks incoming materials from suppliers through production, distribution, sale, and delivery.
- An inventory tracking system for all raw materials used by customers; this includes food safety standards as well as any regulatory requirements associated with those materials.
Make use of the technology that is available to you.
The technology available to you can help you communicate with customers, staff, and suppliers. You need to have a plan for how this will be done in the event of an outbreak.
- Use mobile devices like mobile phones, tablets, or laptops as well as Wi-Fi-enabled printers if possible. Make sure these are able to connect with each other so they function as one system rather than separate ones.
- Make sure that your computers are virus-free and up-to-date with the latest security patches. Also, keep backups on hand so that if anything happens where there is no power supply then at least you can recover from this loss quickly without having lost any important business data!
Every day the policies of the government are constantly changing and there are fresh updates about COVID-19. So you need to be up to date in order to know how each policy and update affects your business. These will help you make decisions for your business in line with government policies.
You should put up policies that will increase safety within the business, for both employees and the production process. Follow the CDC safety guidelines, maintain social distance, and constantly disinfect work areas and environments. Cancel large events, and adopt virtual gatherings in essence.
Your business surviving a pandemic may depend on taking action now, so don’t delay.
You may be wondering, “What can I do to prepare my business?”
The answer is simple: take action now!
It’s not enough to wait until the pandemic hits your town and then try to figure out what you should do once it’s here. There are steps that need to be taken now, so don’t delay any longer by thinking about it later.
In fact, if your company hasn’t already started taking measures against this crisis in some way or another, then now would be the time for you to get started right away.
In the midst of a pandemic, it is important to act fast and decisively. Don’t wait for government agencies or other organizations to help you. The worst thing you can do is wait for others to come in and take care of your business while you sit back and watch from a distance.
You must take action now if there’s any chance at all that your company will survive the coming days or weeks when others don’t have enough time left over from trying to save themselves before it’s too late!