Economic collapse, business foreclosures and no end in sight. These may all be some headlines you’ve read in the last 30 days as the COVID-19 global pandemic continues to take hold of the world economy. While a plethora of our favorite local businesses are suffering during this time of economic hardship and uncertainty, there are still reasons to be optimistic.
Optimistic, you say? Well, as you might have heard, this isn’t the first time a global crisis has occurred. Throughout history there have been pandemics that shaped the world in such a way, the effects of them are still being felt.
With that in mind, here are a few navigation tips for small businesses during the current crisis:
Identify the pain points brought on by COVID-19;
Consider offensive and defensive strategies to address the pain points;
Find creative solutions to your challenges; and
Chart a path forward with intentional flexibility.
Small businesses should seek to identify pain points, assess their style of communication and their approach to handling the crisis so far. Whether you are a high-level manager looking to find creative solutions to help your firm or a small business-owner looking to keep your doors open and grow, creative problem solving is of the utmost importance during uncertain times.
During this time, it is important to partner with someone who can help you navigate through this process. There are tools out there to help you assess your needs and find the best way forward. Know you are not alone, and that we will all get through this together.