What to do for your business whilst you are at home

What to do for your business whilst you are at home

By Sue Ellson BBus MIML MAHRI CDAA ASA MPC WV FIGT

I am fully aware that 2020 is a year of major change, for people and business and that many people are currently working from home, and not necessarily by choice.

As the author of '120 Ways to Market Your Business Hyper Locally,' I have provided a lot of practical tips on how to market your business, particularly within a local geographical radius. This book also includes a 'Marketing Idea Viability Test' that you can use to determine what is or is not a good marketing strategy (and take away emotional decision-making or the temptation to go with the 'latest shiny object' strategy).

However, in 2020, I feel like I need to share some suggestions that are particularly important when some of our usual options are simply not available. Please bear in mind that this is general information and not necessarily specifically related to your personal business situation.

1. Identify what you can control Allow yourself to acknowledge what is happening and understand what is within your control and what is not within your control. You may need to adjust staff hours, suppliers and distributors and respond to clients cancelling their orders. Remember to treat all of these people courteously and respectfully. Before you 'release' these connections, make sure that you add each and every person to your LinkedIn Profile and invite them to follow your LinkedIn Company Profile and other social media or join your email newsletter mailing list. You want to be able to keep them in your radar for the future, even if you do not have time to contact every one of them individually. Be proactive and take control of what you can control and be ready to take some sensible steps forward. Be prepared to make decisions on a more regular basis and more quickly, but gather as much information as you can first and be prepared to make another decision soon afterwards if you receive new information that affects your first decision. Look for ways you can be 'ahead of the curve' rather than chasing it. Avoid ambiguity and be ready to explain your decisions, even if you find yourself in a tricky situation later on. Decisions need to be made. People dislike uncertainty more than bad news. Purpose and values need to be maintained. Be calm and logical. If you panic, you can lose control very quickly.
2. Try and contact as many of your customers, clients and stakeholders as soon as possible but not exclusively in a group email format unless you also include a clickable link to a YouTube video. At times like this, you need to be as personable as possible. In your video, make sure that you thank everyone that is important to your business, your staff, your suppliers, your supporters, your stakeholders, your clients etc and provide details on how you will be moving forward in the immediate short term. Provide statements that indicate your level of accessibility and how you may still be able to assist in new and innovative ways. Demonstrate how you are caring for yourself, your business associates and the general community. If every person or business does something for others, that is a lot of somethings! Ideally, follow this up with a personal phone call or video call to as many clients as you can. This will be remembered for a long time as it shows you genuinely care about each individual. There is no need to reflect on 'how difficult' things are at the moment. Share your story as an 'update' rather than a 'response' to current challenges. Explain how you can assist or how you can help in partnership with some other person or enterprise that complements your product or service offering. Be a visionary leader rather than a passive follower. Give updates on a regular basis over time, but only what you can promise without reservation, not just 'hopes and dreams.'

1. Engage with your professional association You may not have considered being part of a professional association before, and if you haven't, now is definitely the time to join. If you are already a member, find out what they are doing and see if there is some way you can be involved, either in response to an existing initiative or through something that you suggest and/or lead or access to help your business. Now is not the time for individual grand standing and personal recognition. Think about outcomes rather than rewards. Now is the time to encourage fellow association members to share their expertise and come up with well considered activities that can help as many people as possible and help develop the industry and the credibility of the association.
2. Review your current customer/client portfolio Your business may have been heavily geared to a few large clients, a lot of small clients or a mixture of clients. Has your business focused too narrowly in the past? Did you burn your small clients when a few big ones came along? Have your clients suddenly vanished? How many of your clients are likely to return? Remember that this current situation will not last forever and whilst there may be an initial loss, this could potentially change in new and different ways, if you are willing to be adaptable. For example, one business I know has previously provided services to hospitals and medical centres. Naturally, these are the first clients they are re-engaging with at this time with a full service, tailored offering that can be completed immediately. There is no point offering products or services to a client or business that has already been severely affected financially or closed but you may be able to refer them to other people that can assist so your time will not be wasted and they will appreciate your support.
3. Review all of your financial arrangements and budgets If you haven't looked at your business financials in detail for a while, maybe now it is time to start. Has your business, particularly if you are a very small micro business or self-employed, been running at a profit? Are you fully aware of the various revenue streams? Have you evaluated how many of these may be impacted permanently by the current situation? Are there areas where you think there could be an upturn in the future? What do you need to do to reduce your expenses? Please do not beat yourself up if there are some gaps. When you are busy in business, it is only natural to let some things slip through the net. Right now, you may have a bit of extra time to review and analyse your results and gain some fresh insights. You may also find areas where you can reduce your spending. You may be able to put your staff on reduced hours and use up all of their outstanding holiday leave before you try and maintain full time wages and then crash in a month's time. You may also be able to claim a tax deduction for your 'office space' being used at home.
4. Map out how long you can last financially if you maintain the current status quo A sudden business change does not mean that you need to 'throw the baby out with the bathwater' and immediately stop all activity. If you are in a critical position, make sure you speak to a trusted adviser rather than take a knee-jerk reaction. There may be a way for you to speak with creditors, suppliers, clients et al and just put your business into a holding pattern for the immediate short term. The stress of closing everything will be very disruptive to many people. I am not suggesting that you refinance or spend big on new ideas, but I do believe that a reasonable discussion with affected people can lead to reasonable outcomes. One boss I know has worked out how to keep people on minimum hours and use up sick leave to keep everyone emgaged over the short term. He has also told his staff that if they need a loan, they can come to him first. This type of outstanding compassion and leadership can generate staff loyalty and innovative effort that has the potential to keep the business alive for a very long time.
5. Brainstorm alternative ways to use your existing resources more effectively There are plenty of stories of restaurants and cafes offering home deliveries. Of hotels and clubs becoming local convenience stores. Of big and small organisations migrating to online and remote operations. Of manufacturers re-tooling and providing essential supplies (medical equipment via 3D printing, alcohol to hand sanitiser etc). Of individuals and enterprises amalgamating their resources or joining forces - like the airline staff who were directly introduced to the supermarket chains. How can your business re-energise itself in new and creative ways? Ask your stakeholders. Ask your staff. Ask your suppliers. Look at what your competitors are already doing both locally and internationally. The best businesses adapt to changing circumstances and are proud of how 'agile' they are. Some are ahead of the curve, others wait for tried and tested methodologies. However, one thing we know for sure is that the market has changed but there are still opportunities to shift gears and test new options. Please do this on a small scale initially. It is still an uncertain time and you need both a steady-as-you-go approach as well as a bit of creative-reinvention.
6. Rally the troops that can help you Perhaps you have a friend in IT who can help you set up a remote workforce with all of their equipment working properly and completing the necessary online training? Perhaps your staff can update their LinkedIn Profiles and support your business on social media? Do you have some former colleagues or advisers that could know about the latest opportunity channels in areas that are close to your home or business base? Could some of the 'surplus' employees that are currently around help you with projects you have been waiting to complete? Could you enlist some people with specific skill sets to source better deals for your business in the future (reduced energy costs, better supply chain and delivery services etc). Can you re-negotiate any leases? Could you seek expert advice from a business adviser or accountant on ways to identify profitable areas of your business and could you expand on these? Do you need to learn more about social media and online marketing and adopt a more strategic approach? Again, do not be afraid to ask. These services, with less demand, could be more affordable or accessible right now - but please, make sure you do not sacrifice quality!
7. Housekeeping Sure, in a time of crisis, you may believe that the most important thing to do is secure some additional revenue as quickly as possible. However, there is a chance that your website or social media or online links are not working and whilst you didn't need to check this in the past because you had enough work coming in, if these are not working now, you could be losing opportunities. Check your phone number, contact email address forms, lead generation tools etc. If you are thinking of re-designing your website, please read this first. Now would be a good time to create a few different spreadsheets. Your full list of login details, usernames, email address, passwords etc for every link, profile or account you have. A full list of all of your online directory listings (including Google My Business, Yellow Pages, True Local etc) and update them. A full list of all of your online Publications (and copy and paste the link to each one into https://archive.org/web). As you go through this process, you may like to create a 'To-Do List' of things you can update and improve over time (like updating all of your social media profiles and settings).
8. Source information or free business support Many individuals, organisations and governments are providing access to free and low cost assistance as well as financial payments. Do not be too proud to find out what you may be entitled to and do not avoid going through the rigmarole of online applications and procedures - a bit of short term pain could give you a lot of peace of mind. Take up the option of pausing loan or commercial rental payments if it helps. Set up more manageable payment terms with organisations that have the ability to be flexible. Preserve your access to ready cash as long as you can so that you can ride the wave of uncertainty. If you are a little more financially secure, see if there is a way that you can source local suppliers or develop business alliances to share opportunities. Be willing to reduce your profit margin a little, especially if it gives your local community a chance to keep going. Remember that there are many people going through a similar experience, so it is a sign of strength that you can do what it takes to keep going in an adaptive way or be humble enough to help others.
9. Review your social media strategy Please make sure that you provide thoughtful and courageous positive commentary so that people remember you when the circle completes. If you are putting helpful stuff out there, not in a self-interest way, but in a way that gives people ways to move forward right now, without expecting or asking for a payment, it will help people identify with you and your business. I personally avoid using any negative words or alarmist statements. The online world needs information based on reliable and accurate examples and research. I personally avoid 'funny' content as what may be funny for one person is not funny for another. However, I do like to be friendly and professional at all times. I also like acknowledging other good quality content, even if it has been posted by a competitor. It is time for us to come together and collaborate, not compete. If our competitors survive, there is a chance that we can survive too.
10. Look for smaller deals not just big saviours It is tempting in uncertain times to focus on a possible lifeline rather than a nearby buoy to hold onto right now. I am not suggesting you don't look for a philanthropic donor or a deal that will keep you afloat. I remember working for a client several years ago and he relied on 'unbelievable opportunities' to 'make a fortune' and ended up with stock he couldn't sell and money he could never recover. Don't switch gears and go into something you have never done before without a clear understanding of ALL of the ins and outs. For example, one client was convinced that Facebook ads would help his business because a friend of his had used them. Apparently, upon further questioning, his friend received a whole bunch of useless leads and no profit and I still can't work out why my client wanted to pay for Facebook ads for a similar service! Remember that your existing customers and clients are much easier to approach than brand new customers and clients. Please do not be demanding when reaching out to them. You may like to start with a quick question on how they are going and ask if you can help in any way before you make a formal request or share your news. Bear in mind that most people do not necessarily ask you to help them when you offer your assistance, but they will always remember that you offered! Remember, you may be able to refer them to an expert, so you don't necessarily have to do the work, but you can help them find a solution.
11. Be kind to yourself Uncertainty can create paralysis, a sense of overwhelm and the inability to know where to even start. You may have been running at full speed and 120% of capacity for quite a while and now, things have suddently stopped. Adjusting to a new pace takes time and your body and mind need to adjust. Be prepared to spend a few days lying on the couch and catching up on some sleep. Be careful who you talk to about your challenges. Well meaning friends and family members who have lost their jobs are probably not the best people to get business advice or solace from at this time. See if you can find a coach or mentor that has been through this type of economic change in the past - I recommend John McCann. If necessary, if you have a bit of extra time on your hands, think about any other long standing issues that you may have time to address or process without the day-to-day demands of business. Remember that help is available via remote / online consulting and counselling. Be extra, extra kind to yourself if you have had to make some tough decisions or have some difficult conversations with treasured colleagues.
12. Be willing to listen and be present Don't hide at a time like this. Take the initiative and reach out to people. Socially close even if physically distant. Some people are not comfortable making the first approach so if you can, I am sure it will be appreciated, even if it is only a quick text message. You don't need to offer immediate solutions, sometimes, just being willing to listen and asking, 'is there anything else?' during the conversation can help the person resolve their concerns. Be ready for silences, tears and even anger. People who live on their own or who are in difficult relationships can find a time of limited mobility challenging. If someone reaches out to you, even if you don't feel like calling them back, do it. Likewise, with your business stakeholders, clients and customers, listen to what they have to say as they may be able to see a variety of ways forward when you can't right now. Respect people's opinions and don't respond immediately if you find what they say uncomfortable. You don't need to discuss everything instantly - you can say that when you are ready, you will discuss things further. If they want an instant answer, you can say that you will need time to make a decision and you will get back to them when you can.
13. Prepare for the recovery phase It is only natural that some businesses will not survive over the coming months and will need to reconsider their options. There may be options to salvage the enterprise through another business even if you personally cannot continue to manage it on your own. Remember that your clients and customers will be very grateful if you provide them with an alternative option rather than simply disappear. You may not be able to 'sell' what is left, but you can help it live on. Hopefully, there may be a way for the merging enterprise to provide you and your connections with ongoing involvement, even if it is only on a part-time basis. Remember that if you are part of something else, you won't have as much responsibility and you might be able to coast a little easier in the future with a little less revenue and a bit more time - it is not necessarily the end of the world. This might be the catalyst for you to pursue a passion project on a part time basis. Again, please don't invest in some brand new idea unless you have done a LOT of research. For example, we have all heard about 'YouTube Influencers' who make 'loads of money' but how many YouTube Video Creators actually make money from day one? Understand how you will upscale at short notice, possibly with short term on-demand staff but also by keeping in touch with your previous workforce and managing their expectations so that they can remain on standby but understanding that they may not be able to wait. Consider having them available for consulting or training other staff at short notice to ensure business continuity.
14. Create a back up plan Having a contingency plan for 'if the worst happens' is definitely worth thinking about well in advance of making a final decision. You can make some enquiries and find out what options you could consider in the future. This is not a case of 'throwing in the towel' before you have even evaluated your options. Personally, I like knowing that if the worst comes to the worst, I have some backup options, not ideal, not my first preference, but definitely options. As a result of becoming a Gigster, I have spread my risk across multiple tasks, clients and industries. I worked with a very successful man in real estate who specialised in both Aged Care Facilities and Child Care Centres. He told me that when one was up, the other was down and vice versa, so he always had one that was on the up and didn't have the rollercoaster ride of just choosing one specialty. I doubt that full time jobs will automatically reappear, but there may be a variety of on-demand, casual, freelance and contract opportunities, so please start updating your LinkedIn Profile and be ready to consider multiple options in the future.

SPECIAL BONUS - Access to Sue Ellson's four books

You may already know that I am the author of 'Gigsters - Any Age or Ability Employees, Experts and Entrepreneurs.' This book was a finalist in the Australian Career Book Awards 2019 and it is a book that is designed to help you use technology to attract aligned gigs.

I am well aware that at the time of writing this article that there are a lot of people who are adjusting to the impact of the COVID-19 coronavirus.

I am therefore offering free access to all four of my books via ResearchGate.

To access a full digital copy of my books, simply click on the book title links on my ResearchGate profile at https://www.researchgate.net/profile/Sue_Ellson and then click the blue button on the top right hand side of the screen “Download full-text PDF.” You should not need to create a ResearchGate Profile. If you have any issues, please let me know!

Alternatively, if you would like to support my work, you can purchase my books for AUD9.99 or AUD7.99 at https://120ways.com

If you mention this Article, I am also happy to offer an AUD$50 discount on my professional remote services listed at https://sueellson.com/services

Other related articles by Sue Ellson

How to choose your next job or career

The problem with saying 'just get a job'

Google My Business Free Website and SEO Strategies

How to generate Leads, Sales and Results with LinkedIn

It’s not what you know, it’s not who you know, it’s who refers you!

The Business Case for LinkedIn

Partners for business and life

How to feel connected online and avoid loneliness

Tips for finding remote work or working from home jobs

What to do for your career whilst you are at home

I trust you have found this LinkedIn Article helpful. I welcome your thoughts and other suggestions in the comments below.

See my other LinkedIn Articles here

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First Published: 25 March 2020

Last Update: 29 March 2020

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Sue Ellson BBus, MIML, MAHRI, CDAA, MPC, ASA, WV, FIGT is a Remote Global Independent LinkedIn Specialist, Business and Careers Consultant, Trainer and Author.

More information at https://www.dhirubhai.net/in/sueellson and https://sueellson.com