by Rob Joseph, Director, BeaconCFO Plus
It appears, knock on wood, that the pandemic may be abating.
While we are seeing the tide turn and glimpses of a return to normality on the horizon, the work to rebuild your business after COVID-19 will require continued resilience, time, and energy. Here are some actions you can take:
Focus on digital.
Even as physical retail and business locations resume operations, the need remains for solid digital marketing. This past year has been a good opportunity to focus on improving your business’s online presence. Our advice is to make it a continuing initiative well into 2021 and beyond.
Are you maintaining regular contact with your customers, leads, and suppliers? Maintaining communication was important when we could not meet in person, and it will be even more important to communicate what your company is doing as we transition to a hybrid in-person and remote work environment. Try this: Go through past texts, emails, and that stack of business cards on your desk and make a list of people you have not communicated with recently—then reach out to them.
Analyze how your finances have changed.
Did the cost savings from working remotely offset some of the costs related to taking precautions against the spread of the virus? As revenues come back, what practices are working from a cost-efficiency point of view that you may want to keep? These questions can be a starting point for your next steps.
Think carefully about the rules surrounding your employees’ return to work.
Navigating this process will be tricky for everyone, and every business is unique—you will need to make decisions that are the right ones for your specific workplace and employees. The following are some of our personal recommendations:
- Ensure daily cleaning.
- Limit or eliminate the use of hot desks and other shared workspaces.
- Ensure that common spaces like conference rooms are deep cleaned daily.
- Encourage or require double masks.
- Encourage employees to receive their vaccinations as soon as they are eligible.
- Push clear “work from home” guidance to the staff so employees feel they are treated equitably.
- Develop a schedule for people to transition back to the office in stages, rather than all at the same time.
- Continue remote meetings when possible, bearing in mind that the increase in efficiency and cost savings may benefit your business long-term, even after the pandemic has attenuated.
As your business works to recover and overcome the challenges of the pandemic, consider utilizing the services of a virtual CFO. We offer part-time and recurring CFO services to meet your needs. Our CFOs will be strong partners and advocates for your business while you navigate the post-pandemic period. Rebuild your business stronger than ever in 2021—we are here to help chart the course and walk every step alongside you.