Businesses Collaborating During the Crisis

“Tough times don’t always last, tough people do”

Having worked many years with small business and entrepreneurs that have weathered numerous upturns and downturns in business, I have learned the importance of diversifying risk and leveraging time to building a robust business.

At this time, many businesses maybe spiraling from the consequences of these unprecedented global times. Many businesses are up against the wall and have little direction to turn, others are struggling to keep up with demand or having to make huge shifts in their routine.

As we have gradually started to reopen from the COVID-19 pandemic and the shelter- in-place orders, it is important to make sure that those early emergency decisions are now clarified and refined for the long-term wellbeing and success of the business. It is time to reevaluate and re-strategize as we reopen and ramp up to full speed.

How should employees return back to the workplace or should they remain working remotely?

There are many HR and compliance issues that need to be in place for the safety and wellbeing of everyone. However, managing a remote workforce and dealing with the complications of overtime and breaks for hourly paid employees can also be a challenge. Security breaches are potentially a higher risk. It’s important to weigh up the situation for each individual business.

What about the financial aspects to take into consideration?

Did you receive a Payroll Protection Loan? How can you seek forgiveness? With all the new restrictions and policies in place for the business, what are the new costs of doing business and overall profit margins? Before going ahead and ramping up, make sure to analyze the compounding effects and financial burden.

What are some opportunities that might have emerged? Now is the time to be proactive, creative and dig deep to survive and come out even stronger.

If you, or any of your business friends and colleagues, are overwhelmed with how this will impact sales, cash flow, the future and want to talk to someone, we are happy to help.

Until further notice, we will be holding regular free conference calls to see how we may be of help, use creativity or offer resources for those who would like to join us. Let’s see how we can pull together and make this work in the best way we can under the circumstances.

You are welcome to contact Elaine to have a complimentary consultation on how you can thrive during these challenging times by calling her at 510-326-0763.

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