Businesses around the country have had to rapidly adapt to COVID-19. As the crisis continues to unfold, the pandemic continues to have an unprecedented impact on our professional lives. Most business owners are still doing their best to remain afloat. In addition, they’re struggling to drive business forward while working from home.
At the moment, it might seem impossible to flourish. The sudden upheaval of routines and productivity make it difficult to perform to your highest standards. However, there are a few ways business owners can adapt to their circumstances and fortify their companies, even in quarantine. Keep reading to find out more.
1. Organize Your Priorities
Right now, it might feel like your entire business is in total chaos. Undoubtedly, this is understandable. Stay-at-home orders and the closing of non-essential businesses is having a devastating effect on smaller companies. However, it’s much easier to cope with the current circumstances when your team has a clear and concise idea of priorities. This might seem a tad obvious, but you’d be amazed how many organizations fold after failing to work on plans and priorities. The more you manage your plans and priorities, the more it will benefit your work.
Basically, organized project management is a way to rally your team and maintain remote productivity. When your staff has a clear and coherent plan of action, it will help to give them confidence in your leadership. In addition, it’s a foolproof way to adapt your work to these circumstances.
2. Digitize Everything You Can
At the moment, technology is more imperative than ever. This is especially true for businesses. In order to maximize your business from home, you need to adjust every aspect of your business possible into digital format. Nowadays, most modern businesses don’t require much in the way of digital conversion. However, many are still in the midst of their technology journey. If this is true for your company, now is the time to dive in headfirst.
In addition to completely digitizing your business, you should also work towards dealing digitally with vendors. Right now, virtual CFOs are more relevant and critical than ever to helping you survive COVID-19. A virtual CFO will closely analyze your books, come up with customized financial strategies, apply for SBA loans, diagnoses and more. Most importantly, they’ll do all of this remotely.
Total digitization includes an emphasis on software, as well. Basically, this means you should take advantage of cloud storage and communication apps like Google Drive, Zoom or Skype to provide your staff with a virtual workspace. This way, you can communicate as needed, share ideas, track progress, exchange files and access data. Without a total digital implementation, keeping your business on track will be frustrating, tedious, and pretty much impossible.
Virtual CFO Package
|Proactive Strategy Advice|
|Help and organization on raising money|
|Financial assistance on business plans|
|Distributions of NDA’s|
|Gross Profit Analysis Worksheet/PDF|
|Spreadsheet for Sales Expansion Projects|
|Biweekly calls throughout the year|
|Email access during business hours with a 24-48 hour response time|
|Quarterly 1 Day Fly-in or Virtual Strategic Planning Meeting (client flies into JFK)|
|BONUS: Unlimited Voxer access during business hours with paid in full|
|BONUS: First 90 Days of Weekly Calls|
3. Focus on Humanity
Admittedly, this may seem like a vague suggestion. However, it’s probably the most important thing you can do right now. What does this mean? Basically, what this means is you shouldn’t forget about the “human aspect” of working remotely. Remember: this is a tough time for everyone, including your employees. Often, the total digital immersion of business can inspire us to forget that a workforce is made of human beings.
What does a “focus on humanity” involve? First and foremost, it includes a clear emphasis on positive and productive communication. On a digital platform, your words matter, because they’re not only permanent, but usually devoid of tone and inflection. It can be very easy to be misunderstood in emails and instant messages. So positive and productive communication demands clarity and transparency in order to avoid confusion and conflict.
In addition, if you’re a business owner, this is your time to provide leadership. Your employees are looking to you to set an example during a turbulent and uncertain time. Professional relationships of trust, respect, and productivity come from the top down. These are critical to the success of all work, especially remote work.
Conclusion – Choose MM Accounting for Your Virtual Bookkeeping Needs!
MM Accounting is a professional service for the digital age, and a perfect solution for your business in a time of quarantine and lockdown. If you implement some of these reliable methods for strengthening your business remotely, it will help you to survive the effects of COVID-19.
MM Accounting’s packages have been refined to meet the current needs of businesses during this time. For more information on MM Accounting or our remote bookkeeping services, contact us today!