Whether you own a cryotherapy business, salon, or a chiropractic center, you’d agree that so far, 2020 has been one of the most challenging years in human history.
The current situation has wreaked havoc across the world, and most businesses have not been spared. Salons, gyms, spas, and health recovery businesses have been forced to implement social distancing and their business has been negatively affected by doing so.
If you’re a cryotherapy business owner, you are probably very worried about your business. Customers are at home practicing social distancing, and so are your employees. Even if you have decided to not shut down your business, you are definitely feeling the impact.
The fears of keeping the health recovery business afloat and keeping employees are probably on your mind. Like most business owners, you likely did not have a plan for responding to a global crisis. On a positive note, knowing that we are all in this together should give you hope.
If anything, this is a time to process and build new resilience for your business. Every step you take now as part of your business recovery plan will pay off once we get to the other side of all this.
With that said, in this article, I’ll walk you through important things to consider in order to help your business recover after the crisis ends.
Consider doing the following as soon as you decide to re-open your business
Prioritize Safety and Continuous Communication
Your safety and the safety of your employees is essential. Your employees are probably looking up to you for guidance. Address their concerns openly while ensuring them of your business continuity.
As small businesses begin to open, initiate flexible work arrangements and safety policies to ensure your employees and customers are protected.
Your communication should be aligned with government policies to maintain safety. Communicate with your customers about the safety measures in place and the safety changes that will be part of the business operations going forward.
Define What Recovery Means for Your Business
Ask yourself, what does your business need to recover most? Of course, you want your business to go back to normal, but that may not be possible, are you content with making 50% of your previous sales?
The current crisis is not like any other crisis we have seen before. The world has almost turned into one of those post-apocalyptic movies. As a result, you need to ground your expectations and may even have to be content with just keeping your business afloat.
It’s important for you to take your time to evaluate many scenarios and recovery approaches to decide on the direction you want to go.
Evaluate Your Strategic Plan
Having determined what business recovery means to you, assess your strategic plan, and make the necessary changes. The pandemic has interrupted every aspect of the business from the small to the significant aspects; businesses have to respond by evaluating every aspect of the strategic plan.
Ask yourself what you must stop doing and what you must start doing. The safety measures are now part of business operations, and you might be forced to eliminate certain services that could be considered a risk to your employees and customers.
Create Your Recovery Plan and Build Resilience
This is the time for strategic planning. Focus on creating short-term goals for the next three or six months. Begin the recovery plan by establishing non-negotiable aspects of your business that you need to maintain during these rough times.
These aspects of your business should also allow your business to thrive while maintaining compliance with government safety measures.
Engage your essential employee/employees in creating your recovery plan. This will translate to better employee engagement and a sense of ownership once the plan is in motion.
Your recovery plan should take into consideration possible future scenarios.
The current situation could go in any direction, so it is essential to plan for any scenario.
Allow yourself to make informed changes to your recovery plan as you implement.
Take Advantage of the Government Recovery Packages
Recovery and cryotherapy machines can be expensive!
Governments around the world are crafting stimulus packages, with the US coming up with a historic $2 trillion package. The government has come up with several financial and tax-related policies as well to support local businesses. Look out for government opportunities supporting local businesses and how they best serve your business.
The government is offering various forms of support such as exemption and refund of value-added tax, small business loans, and other opportunities for Recovery.
Take advantage of government assistance programs to mitigate risks.
A Good Business Recovery Plan Should See You Through
The current crisis will leave a lasting impression on how we do business.
While it is far from over, businesses should focus on recovery as early as possible to increase their chances of survival after everything’s back to normal.
These times demonstrate the importance of planning. Businesses must have proper risk management plans in place. It’s not too late to start yours… I hope you consider what I shared with you in this article and wish for all of you to succeed in recovering your business ASAP.
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