Guide to reopening your business
Business owners are used to setting goals and solving problems. However, due to the coronavirus outbreak, many small businesses have been forced to close their doors. If the regulations of your state allow you to reopen your business, you must be wondering how to do it safely. Reopening isn't like opening your doors for the first time, especially during the COVID-19 pandemic. You need to have a reopening plan, as there are certain challenges you will have to face during this time. With some expert advice, however, you will be on the right track, so keep reading.
Think about what you have learned before reopening your business
While your business is closed, take the time to observe and reflect on the new scene your business will enter. Think about what you have learned about your business, your employees, and your customers. You might learn something from other businesses in your industry. Is there something you can use to improve your business? Maybe you can offer some new products. Analyze these learnings and find ways to improve your business. You may reopen after the pandemic with a new business model, or you may realize that moving to completely new company premises is the best course of action. Taking the time to reflect and decide how your business will evolve is important as it will help you make a constructive plan for reopening your business.
While reopening your business, you will face many challenges
Reopen and renovate
When your state gave you permission to reopen your business after the lockdown, you must know that reopening requires more than just a return to normal because of the unpredictable period that follows the pandemic. To reopen and to outsmart uncertainty, you will need a program of renovation. This can be an opportunity or even a necessity for your business to build a competence you wish you had invested in before. Try to be more digital, have more variable cost structures, smart operations, and create stronger capabilities in e-commerce and security. Remember that the long-term success of reopening lies in creating new capabilities.
Make a list of your areas of focus
Maybe your business plan has worked perfectly fine prior to COVID-19, but now you will have to make some changes to it, as you need to plan your reopening more specifically. The easiest way to do this is to make a plan according to areas of focus suitable for your business. Here are a few areas to get you started:
- Finances – you might need some financial help during the post-COVID-19 rebuilding period. Be sure to look into different types of government aid.
- Supply chain - you might also need to change your vendors, as many of them had to stop production during the pandemic. Having a backup plan in this regard will definitely be beneficial.
- Customers – you will need to think about your customers’ safety. You may need to follow regulations from your local jurisdiction and practice social distancing and wear face coverings. Improve the communication with your customers, and let them know about any ordinances, but also check if your customers have new needs that you can help them with
- Physical location - if you decide that you want to start off again in a new location, make sure to call professional movers like bigmansmoving.com to help you. Your movers will follow all the safety regulations, and you should ensure that the new place is spotless.
Stay in touch with your customers even when your business is closed
Assemble a team
You don't have to reopen your business alone. While this period is stressful for everyone, you can use the opportunity to communicate with your staff and even improve employee relations in your company. It is important that people feel needed and appreciated so that they can be productive and happy. Your job is to create a work environment that gives people confidence. Give them assignments in their area of expertise, and your reopening plan will be carried out successfully. You can also schedule virtual meetings to avoid having many people in one place and practice social distancing.
Enjoy the project of reopening
Being successful means that you have to love doing your job every single day. Due to the economic crisis that COVID-19 has inflicted, when you decide to reopen a closed business, make sure you're passionate about the project and willing to put in the extra work. Otherwise, because of the difficult economic situation, it might be the right time to sell your business.
If you love what you do, no task is too difficult to handle
Learn from the experience and make a plan for the next crisis
Even though the coronavirus pandemic seems like a once-in-a-lifetime event, the reality is that an emergency can come along and disrupt your business again. That’s why you should use what you have learned during this pandemic and prepare for the next crisis. For example, build up liquid cash savings, focus on paying off your debts, and reduce unnecessary spending to keep your budget in check.
When you plan on reopening your business, know that some things will inevitably change when the pandemic is over. The best you can do is strive to learn more and keep your business and your team agile.