The word “business continuity” means something different these days. Many companies are just struggling to stay in business. So how do you keep your company profitable and your employees engaged especially when they are working from home?
On the Small Business Radio Show this week, Jeffrey Hayzlett who is a former Fortune 100 CMO, a primetime television host of C-Suite, and the author of numerous best-selling business books, talks about how to purposely practice business continuity in your organization today.
Jeffrey Hayzlett Interview
Jeffrey believes that every small business must move fast on business transformation with COVID- 19; there are a lot of companies still doing well. He suggests pushing hard to not just figure out how to survive but put together a plan where you can thrive.
During the pandemic, there are a lot of things small business owners don’t have control over. Jeff says that you need to focus on what you can get done. He suggests focusing on “the keeps”:
- Keep your customer engagement. Remember, out of sight is out of mind. Every company needs to turn up their marketing to help their customers to keep these connections alive during tough times
- Keep your employees focused. Boost your communication by decreasing email and do more video calls. He suggests getting together multiple times a week to foster team building. Let them have a lot of input into what happens next.
- Keep cash flowing. Stop non-essential expenses. Try to get longer terms from your vendors. Start projects early even if customers can’t pay now especially if you charge for your time which you won’t be able to sell later.
- Keep your team safe, healthy, and sane. This is so they don’t have additional things to worry about.
More in: Coronavirus Biz Advice