Monsoons, hurricanes, fires and the coronavirus storm really kicked a lot of business owners in the bank account. How did your business pivot during the coronavirus shut down? Did you have to shutter your doors? Did you manage to make the changes necessary to retain clients and keep your bank account healthy enough to keep the lights on? If so, congratulations! We do have tips for weathering the coronavirus storm (whether it continues or if you’re faced with other “storms.)

You need to have plans in place — if you didn’t — to weather both literal and figurative storms — as 2020 showed us. Unprepared business owners may never recover. Working with Rex Richard will help you be a prepared business owner. Reach out to him and talk about coaching and business survival skills.

Weathering The Coronavirus Storm

Do you have a physical location out of which you have to operate? What did you do when you couldn’t access it — whether because of Mother Nature or the coronavirus? Did you have another location from which you could work? Did you have to send employees home to work? Did they have the equipment they needed and did you have the infrastructure to help them work productively?

Entrepreneurs need to find ways to deal with entrepreneurial intangibles. Getting knocked off your path because of things beyond your control. Are there items your business plan didn’t address because you just couldn’t have ever imagined them? Hello, again COVID-19.

Here are steps to implement right now to help maintain an even keel and thrive in the midst of a storm:

  1. What is the business vision? Can you still see it even during a storm?
  2. Does the mission for the business and the way in which you deliver your products and services clear?
  3. How much input does your team have to keep your mission and vision tangible in everything they do?
  4. What are the individual roles and responsibilities your team has in the midst of a crisis?
  5. Are you standing up front and center in the midst of the storm? Are you doing all you can to inspire and hold yourself as accountable as you hold your team? You need to lead by example.

If you didn’t come out the other side of the 2020 storm with your bank balance in the black, you need to take steps now to help you weather the next storm and you just know there is one brewing.

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