The great heavyweight champion Joe Louis once said: He said, “Everyone has a plan until they get hit.”
Author: Rhett Battle
The great heavyweight champion Joe Louis once said: “Everyone has a plan until they get hit.” As a business owner, preparing for a crisis is extremely important. However, crises still come without warning, so it is important to act quickly when a crisis occurs. The pandemic is an example of why it's important to plan for a crisis, and it showed us what happens when plans fail. Here are his five key actions you can take as a business owner to prepare for a potential crisis.
1. Communicate clearly with employees and customers
Establish procedures for overcoming a crisis and communicate to employees and customers how the crisis is being handled. Also, reassure your staff and carry out the plans you have made. It can be helpful to create something in advance, such as a crisis handbook, that you can use to stay calm.
2. Establish an online presence for your business
Make sure you take steps to ensure your digital presence is strong and your website is ready to handle increased traffic. Even as your attention focuses on adjusting your in-person operations to fit the crisis, plan to continue and grow your online marketing presence.
3. Don't be afraid to pivot
Business as usual may no longer be possible and you may want to pivot to new products, strategies, and service offerings. If you decide to change direction, be sure to take the time to communicate your changes to your community and staff. Connect with other small business owners in your community to learn how they are changing and share best practices and ideas on how the community can move forward together. Additionally, don't be afraid to pivot multiple times. Often you need to consider several ideas to find the best one.
4. Seek financial support if needed
If you think you won't be able to survive a prolonged crisis, be prepared to seek financial support early. Contact your lender or financial institution again to make sure you have evaluated the best options for you. Reach out to other small business owners in your community and discuss financial tools and resources that may be helpful to you. Additionally, he leverages community resources such as local chambers of commerce, economic development agencies, and regional SBA offices.
5. Protect assets, valuables, and employees
Enabling you to run your business without putting yourself or your employees at risk. Also, make sure your valuables and assets are safe, including computer hardware and data stored on your devices.
Once the crisis is over, it's time to let everyone know you're doing well.
When it's time to officially reopen, consider hosting a grand opening event and offer incentives to bring customers back. Creating excitement and returning to normalcy will not only be great for you and your business, but also for your employees and customers.
