20
Mar2020
Advice for Pandemic Slowdown

Advice for Pandemic Slowdown

We are currently in unprecedented times. Business owners may find this time of uncertainty anxiety inducing, however, it is best not to panic. Alternatively, you should leverage this time to catch up on tasks that you may not have had time for otherwise. In this blog post, we give advice for pandemic slowdown.  If your business has slowed down during this pandemic, consider the following:

1 Plan your future.

Use business tools like the book Traction to review your business model and your short term and long-term goals. Plan your individual future. What book do you need to read, what career moves would you like to research?

2 Evaluate all contracts.

Especially ones that you didn’t get to review during your end of the year activities: insurance, employee handbook, suppliers, service providers, and customers.

3 Get rid of old files.

Shred them or move them offsite. This will make space for new business files.

4 Review your financial records.

Check for fraud, theft, and embezzlement. Talk to your accountant about tax planning.

5 If you are in litigation or planning it, collect the relevant documents.

Send them by email to your lawyer, and review them with your lawyer by phone. Don’t wait for the courts to re-open. The statutes of limitation have not been extended.

6 Write informative articles and blog posts.

Like this one—giving advice based on what you know about your industry.

7 Volunteer to help.

Neighbors, employees, friends, and relatives who need it.

8 Educate others about the pandemic and what to do about it.

This includes running down false advice and making sure people don’t get fooled by it.

And lastly, the most important thing to remember is this will not last forever. Business will pick back up. If you have a business litigation matter during this time, we are open and available to assist you. We are practicing social distancing, following CDC guidelines, and can teleconference with you if needed. Contact us today.

 

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