Tips & Opportunities For Businesses Impacted By Coronavirus

At the end of 2019, it felt like our country was gearing up for an even greater 2020. Markets were pulling in record gains, unemployment numbers were at all-time lows and consumers were spending with a confidence not seen in over a decade. Fast forward to May 2020: the novel coronavirus, COVID-19, has wrapped itself around the globe, forcing the world to press one giant ‘pause’ button. The disruption has been enormous. Whole countries have been forced to shelter in place, with only businesses deemed essential being allowed to continue operations.

So how do we continue normal business operations during these abnormal times? I think a big opportunity for companies now is to rethink what ‘normal’ means. It is imperative that we protect our workforce and adjust our business operations to push our way through this. If we cannot adapt, we will surely fail. I have outlined below some recommendations and steps that we’ve taken to put First Source Worldwide in a better position today to weather this storm. I hope some of these tips can work for you, as well.

Reduce Transmission Among Employees

  • Actively encourage sick employees to remain at home and seek medical attention
  • Identify where/how workers might be exposed to COVID-19 at work and adjust accordingly
  • Implement basic infection prevention measures
    • Wash hands with soap and water
    • Cover your coughs and sneezes
    • Avoid touching your face
  • Implement usage of PPE

Maintain Healthy Business Operations

  • Set up digital infrastructure to support staff working from home
    • Be sure to review or expand your virus protection software
  • Establish policies and practices that promote social distancing
  • Implement flexible sick leave and supportive policies and practices
  • Prepare for spikes in absenteeism
    • Cross-Train your workforce

Maintain a Healthy Work Environment

  • Implement additional cleaning and disinfection protocols
  • Support constant respiratory etiquette and hand hygiene for employees, customers and visitors
    • Provide tissues and no-touch disposal receptacles
    • Provide hand sanitizer and disinfectant wipes in strategic locations (doors, workstations, desk)
  • Consider engineering improvements
    • Improve air circulation
    • Move equipment to create additional space between workers

Expand Contact Free Communications & Digital Marketing

  • Take advantage of new modes of contact
    • Video conferencing
    • Telecommunication
    • Social Media
  • Increase your external communications with customers
  • Invest in digital marketing platforms
  • Improve Search Engine Optimization

Reassess Your Supply Chains

  • Implement, review or expand your supply network mapping
  • Vet and maintain alternate suppliers
  • If cashflow is tight (or supply is lean), try bartering with other products or services

Use Downtime Productively

  • Revisit, review and revise existing marketing content
  • Communicate with and maintain existing customers
  • Follow up on old leads
  • Develop new projects, services or procedures you previously had no time for
  • Revisit or renegotiate existing contracts, if possible
  • Conduct a deep cleaning of your business

Of course, everybody’s situation is unique. But if your business is still standing on two legs, even just barely, understand that you have already leapt over some enormous hurdles. This resiliency is one of the major building blocks for success. We will have a long road ahead of us before we are out from under this, but we can take today’s opportunities to better position us for tomorrow!

If you have any further questions on steps First Source Worldwide is taking in regard to COVID-19, please feel free to contact us by clicking the picture below.

By |May 11th, 2020|Blog, Covid-19|0 Comments

About the Author:

Matthew Wojtkowski is a technical sales representative with Commerce Industrial Chemicals, a division of First Source Worldwide. Matt has been involved in colorants and chemical industries for almost 15 years. He has a passion for problem solving and helping customers with difficult projects. On weekends he enjoys music, cooking, the outdoors, and spending time with his family.