5 Things To Help Your Business Survive The Coronavirus Crisis

Posted on March 31, 2020

Becky Koyle

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It’s incredible how your world can be turned upside down almost overnight.  I realize that everyone is tired of talking about this global Coronavirus pandemic right now, but it’s hard to ignore this beast when it literally is affecting every aspect of our lives.

 

I never would have guessed in a million years that we would see something like this take place in our lifetimes.  We’ve seen movies like “Contagion”, “Outbreak,” “I am Legend” and all the other apocalyptic films. I don’t know about you, but I could not personally envision something like this actually happening in reality. Yet, here we are now.

 

The time has come that things are out of our hands, and we can either adapt or give up. Many businesses have been forced to shut their doors and the ones left open are suffering because people are afraid of leaving their homes to go anywhere. In these times of uncertainty, it has become essential for us to be willing and able to change with the times.

5 Things To Help Your Business Survive The Coronavirus Crisis

Here are 5 things you can do right now to alleviate some of the effects of the current situation:

Seek Financial Assistance Options

There are a few options for financial assistance that you may qualify for.  Some business insurance policies include a disaster protection policy.  You might want to check with your agent to see if this is something you have.  There are also several other resources that are being made available to small businesses during this time.

 

SBA is providing low-interest loans, and even Facebook is dedicating $100 million to help out businesses affected by this tragedy.  You can look at this page on Forbes for an updated list of financial assistance programs available right now.   Lnkw.co/bizrelief  

Create a way to Work Remotely

Now that the government is urging us to keep gatherings to 10 people or less, it makes coming together in an office setting extremely difficult.  If there is any way that your business has a way to sustain itself by simply creating a remote work option, this could protect your business’s ability to function, while also protecting jobs for your people.

 

An example in my hometown is from a local credit union headquartered here.  They took action very quickly and within a few days, they were able to transition 400 desk job, local employees, to be able to work from their homes.

 

It may have involved in paying for labor and technology to make it happen, but this allowed them to continue to function as a business, without too much interrupt.  They saw the imminent need to protect the health and welfare of both their employees and their business, so they did whatever necessary to make that happen.

 

  • You can do phone calls, webinars and teleconferences rather than in-person meetings.
  • Limit travel and live stream events instead.
  • Realtors can do remote and virtual video walk-throughs of properties.
  • Restaurants can offer curbside pickup or deliveries.

Move some of your products or services online.

I had a local doctor in Pocatello reach out to me last week about trying to move some part of his practice online.  He wants to be able to sell stuff informational products and do some virtual consulting.

 

I suggested some things he could do right away to generate some leads online and within a couple of days, he had obtained at least 3 new clients as a result of our thinking outside the box.

 

We’re also creating some funnels and digital information products he can sell or give away as lead magnets to keep the momentum going and continue generating new customers.

 

This is all part of adapting to make it possible to continue building his business and adding additional streams of revenue when other businesses are succumbing to the inevitable collapse in front of us. It is really time to be creative if you want your business to not only survive but even thrive when times are tough.

 

  • If you are a coach, trainer, or another service provider, create a virtual online program that people can walk through at their own pace.
  • Use your experience and expertise to create digital information products to give away or sell.
  • Create a Facebook group where you can educate your audience and provide value and find affiliate products to promote within the group that aligns with your audience.
  • Do some paid webinars or one on one coaching for a fee.

Communicate Effectively with Employees and Customers

Always ensure that your team and the people you serve know exactly what is going on so that everyone is on the same page.  Be transparent and honest about what you are facing and the things you are implementing to make things safe and efficient for everyone.

 

Make them aware of what they need to do individually to have the best outcome for both you and them.  Try to be more flexible with employees’ schedules since most of them will be working at home with kids who will need some attention during work hours.

 

Also, consider being a little more flexible with customers by creating payment plans, allowing them to push back payment or two, or give them incentives for referrals so that you can keep people coming in the door.  We’d love to hear some other suggestions that are working for you in your business too.

When in Doubt, Get Help to Figure it Out

If you are completely lost and don’t know what to do to generate income during this crisis, then it’s time to get help.  Find a mentor who has experience in this type of thing.  This is what APEX is all about.

 

What’s what is great about this program, is Ryan Stewman and the team give so much practical advice that you can go and apply to get results if you follow the plan of accountability he lays out for you.  You just gotta do it though, and ask for help if you don’t know how or what to do.

 

There are so many creative ways to add revenue to your bottom line if you know where to look and what to do.  Reach out to Drewbie Wilson or Danny Galvez and let them help you to help yourself.  We can make it through this!  #Weareapex

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