The future is full of uncertainties and challenges, which every individual, every organization is facing now because of the Covid-19 global pandemic. Everyone has the same question: How to Run an Effective Business during COVID-19 Crisis?
The entire world is in lockdown, facing the worst situation of the many decades. The marketplace is crashing; the job market already fell. Small businesses are struggling to cope up with these situations. The entire way of doing things is going to change because nobody knows how the future is going to unfold.
Everyone facing some sort of challenges and difficulties, I would like to write a few action points which will help you to run your business in the right direction and help you to cope up with these problematic situations. The pandemic situation may end with a scientific breakthrough or go on to continue like this for some more months. But either way, the after-effects of the pandemic is going to be huge in all areas.
Governments are taking various measures to revive the economy, but the after effect of the pandemic will haunt for some more time. Big organizations will lose their big chunks of profits, but small organizations will struggle and have a threat of losing their existence. Here I would like to suggest a few things we can do to cope up with these situations.
These action measures should help small businesses and entrepreneurs answering the question of How to Run an Effective Business during COVID-19 Crisis?
1. Standard Operating Procedures (SOP)
The new normal is different, and everyone needs to adjust to the new way of doing things. Simple mistakes can change the entire situation and will leave a big negative impact on the business. The old way of doing things won’t work in these challenging times.
Every organization, the establishment needs new processes to operate the business differently. Every organization has Standard Operating Procedures. Well, those SOPs will not be very helpful in this pandemic situation. I suggest the organizations to formulate the new SOPs, keeping in mind all the aspects of current scenarios.
The SOPs must include the following additional processes:
- General precautionary measures to prevent COVID 19
- Guidelines to the employees on taking necessary precautions
- New systems to implement in the organization. (To implement SOPs)
- The process of handling the customers’
- The process of office management and operations
These new processes are very critical in making all stakeholders of the organization are safe and comfortable in doing their day to day activities with the organization. It will give a clear path about how to go and how to handle the various situations which we might face in the operations. When formulating the SOPs, keeping in mind about all the future scenarios is necessary, and it should give complete clarity on how to handle various situations.
The SOPs should be in detail, and when employees are reading the SOPs, there should not be any confusion and doubts left. SOP training is also very much necessary to make operations running hasslefree. Management should do multiple SOP audit regularly and should bridge the gaps. Periodic review and editing in the SOPs are required to add new processes. New systems should be in place to implement new SOPs, and Management should train its employees on using the systems effectively without any deviations.
2. Policies and Procedures
The policies and procedures are the fundamental aspects of any organization. It sets general guidelines for all the activities in the organization. The post-pandemic situation needs new policies and systems in place. And sometimes need to re-engineer the existing policies and procedures to answer the question of How to Run an Effective Business during COVID-19 Crisis?. Such as,
- Personal Safety Policy
- Employment Policies
- Compensation and Benefit Policy
- Travel Policy
- Office Management Policy
- Health, Safety and Security Policy
- Training and Development Policies
The policymakers have to rework on these policies to make it more relevant to the current scenarios, and Management should communicate the new policies with the team to give clarity on new ways of doing things.
3. Optimum Utilization of Resources
It’s essential to know your resources well in advance, before stepping into operations and formulating your strategies and goals—the resources in terms of Manpower, Finances, Merchandises, and other Assets should be evaluated carefully to achieve ease on how to Run an Effective Business during COVID-19 Crisis?
And the need to make necessary decisions about reallocating the resources and using it at the optimum level. The organization should make a list of all the resources available to its disposal and should design strategies and goals around it. Closer look at the liabilities also very much necessary and should take decisions on eliminating the unnecessary costs.
4. Strategies and Goals
The strategy and goals which were prepared for the entire financial year are not relevant in this current scenario. The pandemic situation made the marketplace unpredictable.
|For some organizations, it’s about degrowth, for others its about survival in the market. The strategy should be tweaked as per the current situations and upcoming challenges. Predicting the future is difficult, but getting the near accurate prediction is the requirement so that the organization can prepare for the same. When designing the strategies, keeping in mind all the organizational aspects and challenges and resources is very critical.||The goals for the future are difficult to set. The organization may need to change the goals multiple times. Instead of establishing long term goals, it has to be short term goals and short term milestones. So that the organization can modify it as per the situation unfolds. As you all know, while setting the goal, ensure that it is Specific, Measurable, Achievable, Relevant, and Timebound.|
5. Team Management
The organization is all about people. People are the greatest assets for every organization. In these pandemic situations, there is uncertainty everywhere. Its the responsibility of the organization to give assurance about their job security, health, and safety. The organization should communicate the measures taken in the organization to make the work environment safe and secure.
The organization should also engage employees in their skill development and other learning activities and keep them occupied. Training and development is an effective method to keep employees engaged. Energy and enthusiasm play a very vital role in achieving the results. All employees need to be energetic to fulfill the goals of the organization. Training will help employees to be high in energy.
The commitment of the team towards a high productivity, results, and achieving organizational goals is the foremost requirement at this time to answer the question of How to Run an Effective Business during COVID-19 Crisis?. The organization should explain to its employees about the current challenges the organization is facing and what is it the organization is expecting from them. Realigning a team to the new strategies, goals, and milestones and driving the result is the primary role of every leader in the organization. The transparency in sharing the actual situation with the team will help in boosting team morale and work towards achieving the organizational goals.
Ensuring all team members are putting their best efforts in achieving the organizational goals is very much necessary; for that, a robust monitoring and review system should be in place. The organization should make sure there is no room for mediocre performance and low productivity. All leaders in the organization must take the responsibility of getting the best results from their team.
How to Run an Effective Business during COVID-19 Crisis in 2020?
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6. Positioning the Brand
It’s important to know how your brand occupies in the minds of the customers and how it is distinguished from the products of the competitors. Your positioning in the market is a difference-maker in this critical juncture. Few times many startups fail due to improper positioning of their brand. For this, why customers should choose you instead of others is the right question to ask. Is it that you are fast, cheap, quality, user-friendly, or your customer service. Understanding your target customers and positioning has to be done all over again. And creating new marketing strategies will help you to gain new customers.
7. Continuous Development Mode
Open for learning and readiness to change is a very critical attitude every leader should have in this situation. Nobody knows about tomorrow, and it’s difficult to model the business practices from others or past experiences.
Every day looking for new challenges, facing it, resolving it makes you go to the next level. Take your mistakes as a learning experience and change according to the situation and work for growth. Keeping in mind about worst-case scenarios will help you to prepare for the worst. Don’t stick to a single way of doing things and be open to other possibilities and opportunities. Learn every day, be in Beta mode.
8. Mutual Cooperation
When the question How to Run an Effective Business during COVID-19 Crisis? arises, the main mindset everyone should have is to cooperate mutually. Asking for help is not a sign of weakness. It’s a requirement of the current situation.
In this challenging time, organizations are working as per the competencies of their people. There is a chance of losing if you don’t have the necessary competencies to handle some situations. Being in contact with the industry leaders and experts, and connecting with them and sharing the thoughts and processes with each other will help everyone to overcome the challenges together. Overcoming this situation is possible through collective efforts and mutual cooperation.
9. Positive Mindset
Keeping positive mindset in these challenging times is a difficult thing to do for everyone, but leaders staying positive is very important, because there are people who are looking up to them; business is struggling, uncertainty about the future, degrowth in the financials, and for some, survival itself is the challenge yet an answer to How to Run an Effective Business during COVID-19 Crisis.
But keeping a positive mindset and attitude will help you to see the situation into a new light and solve the problems. Developing a “We can do it” attitude in the organization and motivating the team to achieve the goals are the primary roles of the leader. Speak to your team regularly and tell them, “we can do it,” and always convey positive messages with your team. Every problem has a solution. Focus on the opportunities in every challenge. Remember, success is all about overcoming the challenges or difficulties. I love your challenges.
Suggested Read: If you’re struggling to keep your mind positive, first develop a positive personality and here are the top 7 personality development tips for you.
10. Massive Actions
In the end, only the actions can bring results. Massive efforts will deliver massive results. Never settle for mediocrity. The extensive measures at all levels are very much necessary, and it will bring amazing results to the organization.
Making your team adopt this mindset, and driving the results will be the primary responsibility of every leader in the organization. Ten times of actions will bring you more than a hundred percent results., in no time, your business will be in growth. Adopt ‘whatever it takes’ mindset and push everyone towards their best productivity. You will see the changes, and you will see success.
Again and again, it’s irritating to hear the same question: How to Run an Effective Business during COVID-19 Crisis?
This is the time we need the best of ourselves. This pandemic situation will pass, but the after-effects will be there for many more months and years. These ten actions will help you to run your business and grow steadily. But in the end, the people who are going make the difference, and their actions are the difference makers.
So all leaders should drive their team to get maximum results at the same time, appreciate their commitment and contribution to the business. Motivate your team, keep them in high energy. The new normal demands new ways of doing things, welcome it with open arms, and embrace change.
Suggested Read: Managing The COVID-19 Crisis: Seven Tips For Business Leaders
Covid19 situation will force everyone to change their obsolete business practices. The major transformation required in all areas, every department in the organization need to come together and work. Everyone needs to come out of their comfort zone to get the desired results. All employees should focus on achieving their KRAs and KPIs daily basis, and leaders should monitor the same. I hope everyone gets through this storm and reach their destination safely. For further support/assistant or for coaching on How to Run an Effective Business during COVID-19 Crisis?
FAQ: How to Run an Effective Business during COVID-19 Crisis in 2020?
Enterprises need to ensure their employees remain calm, confident, and compassionate during chaotic situations, as this helps in creating a resilient culture. A company’s work culture runs through testing waters during difficult times. The report says that resiliency will come to companies by reshaping priorities, showing adaptability, and working as a team.
Organizations need to make sure their employees have access to necessities like healthcare and childcare. Ensure to check on employees and ask if they are comfortable in their new workspaces. The report also suggested companies need to consider adjusting working hours to fit the needs of employees with children at home during especially during a crisis.