Many business owners are likely asking themselves, "How can I revive my business after lockdown? Where do I start?" Here are six tips to help you get back on your feet.
1. The Scope and Situation of the Crisis
As of the time of writing this article, Mongolia has a total of 907 confirmed cases and 384 recoveries. On the last day of the strict lockdown, only one new case was registered at 11 a.m., which suggests the lockdown was effective. Even though the number of cases is decreasing, there is no guarantee that the virus won't spread again, and there's no information on when a vaccine will arrive in our country. This means we must remain vigilant, anticipate the future, and take appropriate measures. So, be sure to closely monitor statistics and news, and adhere to all mandatory regulations.
2. When and How to Reopen
To reopen your business, you'll need to strike a good balance. If you reopen too early, you risk spreading the infection among your customers and employees. We saw from the example of an artist who held a concert that this can lead to significant public criticism. However, if you open too late, you'll risk falling behind your competitors who have already reopened.
3. Define Your Success
To get your business back on track after the pandemic, you should define your business goals and what success means to you. As the Cheshire Cat said in Alice in Wonderland, "If you don't know where you're going, any road will get you there."
4. Resources
To recover from the crisis, you will need various resources depending on the nature of your business, such as employees, equipment, and product inventory. Be sure to allocate your current resources wisely and consider the possibility of another outbreak.
5. Rules and Procedures
Take a moment to reflect on how to prevent the crisis from happening again. The answer depends on what kind of business you run. If you operate a small- to medium-sized store with one or two branches, you should develop health and safety rules and procedures for both employees and customers that will be followed by all branches. If your employees work together in an office, consider having them work from home on a rotating schedule.
Pay close attention to what your competitors are doing in your industry. Find answers to what good practices you can adopt and what lessons you can learn from their mistakes.
6. Increase Your Online Presence
The time (and money) people spend online is increasing every day. Many people are at home, and their desire to continue their normal lives is growing. Just as restaurants have started delivery services and teachers have started online courses, if your business operates in the retail sector, you must immediately launch online sales. At a time when so many people are at home, the only way to reach them is to sell your products online.
I want to ask you, the business owner, the following questions:
- Do you have an e-commerce website?
- Is your company's website easy to find?
- Is your company's website easy to view on a phone?
- Is your website visually appealing?
- Are your social media accounts updated?
- Are you communicating with your customers online?
- Have you notified your customers that they can get information online?
7. Preventing a Recurrence
Once you overcome this crisis, there is no guarantee that another one won't happen. So, learn from the current crisis and create a plan for how you can apply these lessons to a future crisis