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Restart Your Business in the Post COVID-19 Market

Restart Your Business

It’s unclear how long the COVID-19 pandemic will last, but what is certain is that many states, including California, are beginning to re-open the economy. Will you be ready to restart your business in the post-COVID market?

Many small businesses have been hit hard by the recent shelter-in-place orders, but there is no need to continue your suffering when that light to re-open turns green. You’ll want to be ready to restart your business as quickly, and safely, as possible.

Here are some actions you can take now to be prepared to reset and restart your business in the post-COVID world.

Make sure you’re customer lists are updated

Many small business owners are reliant on repeat business. This makes customer lists an invaluable tool for marketing. Customer lists make repeat business possible, but only if they’re kept updated.

Make sure your lists have the business-critical information you need for each of your customers, including the customer’s name, address, mobile number, and email address and verify the accuracy of that information. Also eliminate duplicate records which could otherwise lead to duplicate marketing efforts on your part and impair your ability to service your customers effectively.

This is a good time to check in with your customers. Ask about their future needs and see if you can help them out in any way.

Stay connected with your suppliers

If you’re ready, then you’re suppliers need to be ready as well. Check with your current vendors to determine their availability in the weeks leading up to the restart of your business.

You may be surprised that some may not reopen at the same time you do. Others may be unable to guarantee timely delivery of the products or services required to restart your business. Reach out to new vendors, as primary suppliers may be unavailable.

Stay in touch with current and new suppliers so there are no surprises. However, you will also need to be prepared for supply chain contingencies.

Keep open communication with your employees

Your business cannot run without your employees. Make regular employee communications a priority during this difficult and uncertain time, keeping them informed of company developments. Notify them of your plans to reopen or scale up operations as that time draws near, and when you expect to bring them back.

Technology has made communicating with employees when they are working from home much easier. You can keep the lines of communication open using email and the phone, and videoconferencing can provide valuable face-to-face time with your entire team and the opportunity for group discussion and Q&A.

For those that are required to stay home, but cannot work from home, regular contact can help them to stay in touch and up to date with any developments and plans to reopen.

Reopening your facilities

As you prepare to reopen your building, develop a list of services that need to be completed by third parties, who may be restricted from accessing the site while property is shut down. Schedule services that need to be addressed once it is safe to do so.

Identify opportunities to protect your business

As you prepare to reopen your business, look for opportunities for new or revised controls that can help reduce the impact of COVID-19 in the weeks ahead. For example, if you will be reopening to the public again, what protective measures for employees and customers will you need?

If COVID-19 has inspired or compelled a change or expansion of certain aspects of your business operations, make sure to include these in you plans. For example, a restaurant’s increasing demand for a delivery may compel a change. Consider risks associated with those expanding operations. A change in delivery may require a restaurant to create formal fleet safety practices to keep your employees safer on the road.

Take a detailed property inventory

There is as good a time as ever to review your business assets and make sure they are insured to their full replacement value. There is no need to take any additional risk at this time, your business has suffered enough loss already. This essential step will help ensure that your commercial property policy is up to date should your property become damaged due to a covered loss, such as fire, theft or vandalism.

Your inventory should list all property your business relies upon to operate, such as land, buildings, equipment, furniture, fixtures, signage and specialty items that are unique to your operation. For each item, provide a description, its estimated value, the serial number and purchase date. While you’re at it, also assess your current inventory and how future inventory may be impacted by changes in supply chain.

These challenging times are testing small and large businesses around the globe. By preparing now for when operations pick back up, you can help your business remain viable and resilient.

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