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TABLE OF CONTENTS The Business Implications Caused by the Novel Coronavirus
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Sandra Hinshelwood EDITOR
Business Partner Magazine is issued bi-monthly by Sandra Hinshelwood of Effective Website Marketing
Epidemic or Opportunity
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How to Bolster Your Business Offering
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Goodwill Giving During Quarantine Gets Customers
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How To Look After Employees’ Mental Health During COVID-19
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Why You Should Have Good Customer Service
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Aljon Sampaga LAYOUT/DESIGN
How To Protect Your Online Business During The COVID-19 Pandemic
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MESSAGE FROM THE EDITOR The impact of the Novel Coronavirus is being felt in all aspects of our lives. As the pandemic takes hold the way we live our lives has changed beyond recognition. Many of us are asking “What next?” We are wondering if life will ever be the same again and we think about what the “new normal” will be going forward. Many of us are facing financial difficulty, but thankfully, the UK Government has put in place several relief and support packages to keep the economy going in the immediate short term. This is the case for many countries, but not for all. The UK is still in lockdown and many are asking “When will the lockdown be lifted?” The biggest challenge governments around the word are facing is how to balance the risk to life compared to the risk to the economy. During these tough times it is easy to focus on the negative aspects. However, sometimes good can come out of the bad. Is it a disaster or is an opportunity? It is important to remember that some important leaps in innovation and technology have been made during the most difficult times. Just look at how quickly the new COVID-19 vaccinations have been brought to trial stage. We can also see how communities have come together to aid and support each other. While we have been lockdown, pollution levels have significantly reduced, inland waterways and the sea have become clearer, and wildlife have been seen wondering around deserted cities – including goats, deer, wild boar, and kangaroos. As world Earth Day celebrates 50 years, the recent pandemic has offered a glimmer of hope for the environment and how things could be, but in the most painful way possible. In this issue we look at the implications of the Coronavirus and offer tips to help you cope with the challenges you are facing now. While it may not look like it now, we will get through this. It is time to pivot, to be agile and, in many cases, to reinvent the way we live and work. Until next time, take care. Kind regards, Sandra
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The Business Implications Caused by the Novel Coronavirus
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s of March 2020, the Novel Coronavirus has infected more than 335,000 people and led to more than 14,000 deaths. Unfortunately, the battle rages on in most countries throughout the world. The effects of the illness are evident in our daily lives. Purell hand sanitizer is sold out in almost every store. Organizers have canceled global events and festivals. Many of the biggest cities’ streets are empty as citizens stay inside. The business implications of the virus are also clear for small business owners, corporations, employees and more. The virus has affected everyone in one way or another. Find out what the business implications mean and how owners can protect themselves and their employees.
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What are the Business Implications for Small Business? Small businesses are among the worse affected by the Novel Coronavirus. Cities have been mandating many local businesses to shut down. More and more cities are placing restrictions to help control the virus. But, small businesses aren’t equipped with emergency funds to continue operating. As of March, 96% of small businesses said the Coronavirus impacted them in some way. Fifty-one percent said they wouldn’t be able to continue operating for more than 3 months.
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The larger corporations and vendors above them are feeling the same effects. The airline industry is taking big hits. Countries close off their borders and governments tell citizens to limit nonessential travel. Global businesses aren’t able to conduct their usual businesses, so they’re stopping work and massproduction. As these businesses scale back, manufacturing is limited as a result. The virus started in China, which accounts for close to 30% of global manufacturing. The country has been forced to shut down many plants limit supplies for the rest of the world.
Currently, the best option for small business aid is through the U.S. Small Business Administration. The SBA offers an Economic Injury Disaster Loan Program. Businesses in every U.S. state and territory are qualified for the loan. With the SBA loan, you can receive capital loans up to $2 million at very small interest rates. We recommend applying for at least three months of funds.
How Does the Coronavirus Affect the Entire Supply Chain?
As a result of limited productivity, corporate bankruptcies could be in the near future. Investors are choosing to stop their projects or hold off while they know they won’t receive an ROI. Businesses are turning to major banks. The need for business funds could overload the financial system. All of these effects have greatly impacted the stock market. U.S. stocks continue to plummet as the economy comes closer to a global recession.
Small businesses sit low on the supply chain.
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What Can Businesses do for Their Employees?
How to Protect Against Coronavirus
As a business owner, know that you’re not alone. Nearly every company big and small is feeling some type of business impact right now.
If you’re in a city where the coronavirus hasn’t expanded, you may still be able to continue business as usual. But you’ll need to increase your cleaning procedures to protect you and your staff from the virus.
Your biggest concern may be for your employees. How can you keep them safe and employed while shutdowns are imminent? This depends on your finances, your industry, and where you’re conducting business.
Consider hiring additional services that can help with cleaning for Coronavirus on a daily basis. Trained specialists will understand the precautions they need to take. While cleaning, they’ll pay attention to disinfecting every area of your office.
Many countries and cities are experiencing full shutdowns with shelter in place orders for their citizens. Unfortunately, the hospitality industry and other peopleto-people industries are experiencing the worst effects.
Even if you do hire a cleaning crew, know that your surfaces will only remain clean until someone brings in a virus from their outside activities. You’ll need to bring your staff together and make sure everyone is on the same page with daily cleaning procedures.
If you can still operate in a limited fashion, try to keep on as many employees as you can. For restaurants, this could mean keeping some cooks and hosts who can run take-out and curbside pickup orders. For the employees that you have to lay off, there may be aid packages for servers and bartenders.
Consider placing at least one Purell hand sanitizer dispenser inside your office. Encourage everyone to use the hand sanitizer whenever they leave and return to the office. They should especially wash their hands as much as possible.
No matter what industry you’re in, you can also apply for unemployment on behalf of your employees. Doing so at the first sign of a shutdown can speed up the process and give them aid as soon as possible.
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It would also be great to buy disinfecting wipes. You can encourage each employee to wipe down his or her work area at the beginning and end of every day. Throughout the day, your staff should focus on keeping their hands away from their faces.
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What Comes Next?
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Business implications from the Novel Coronavirus are far and wide. Furthermore, the news continues to change every day. As of March 2020, U.S. lawmakers are working to provide relief to both businesses and their employers. Any new business funds will likely come through the Small Business Administration. The SBA is already offering disaster relief loans at 0 -.25% interest rates. These loans can help get businesses over the hump to keep them in business once the worse of the virus is over. In the meantime, pay attention to local and national news to see if new options open up for business owners. Turn to Business Partner Magazine for more tips on keeping your business safe and secure.
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EPIDEMIC or OPPORTUNITY?
“Our most significant opportunities will be found in times of greatest difficulty.”
- Thomas S. Monson
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hat do you think of when you hear the word disaster? It’s not uncommon to picture earthquakes, floods or disease spreading around the world. COVID-19 is causing our world to change in some big ways and to many, it may seem like a disaster. What you may never have considered is that disasters can also be extremely beneficial, it just isn’t always so obvious as the destruction or pain which is often the most visual and striking.
world’s most important leaps in innovation and discovery were marked by times of disaster and difficulty. While they can be damaging and full of heartbreak, they also have the ability to push human beings to maximize their potential and intelligence. Here are just a few examples of the innovation and creativity that has been unleashed in connection with disasters.
During this time of uncertainty, it can be important to remember that some of the
In her book, A Paradise Built in Hell Rebecca Solnit recounts the history of the great
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1. Earthquakes, Fires, and Human Beings at Their Best
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San Fransico earthquake but from a new perspective. In was one of the largest earthquakes in U.S. history and many were displaced and lost nearly everything they had as a result. Somewhat unexpectedly, this experience became a cherished time of life for many of the citizens who lived through the calamity. Displaced with nowhere to call home and surrounded by only strangers, one might most likely expect prolonged suffering and only misery, but this was not the case. Many saw it as an opportunity to help others and make the best of the poor situation. As a result, a new kind of community was created, one where people became increasingly generous and full of new values. The earthquake destroyed not only buildings but the previous social structure and status and led to a new kind of living in which people cared more about each other than their possessions. A new way to live was revealed and has been the source of some powerful studies and insightful literature.
government and other organizations will know which areas are most at risk leading to better evacuation efforts and damage predictions and assessments. In addition, some of the citizens of Houston quickly realized that 911 would be insufficient to handle the number of calls and help requested. Three men, Matthew Marchetti, Nate Larson, and Oliver Carter didn’t wait around for someone else to handle this problem, they took matters into their own hands. They put together a site called Houston Harvey Rescue which compiled emergency service data to help create a map and organize volunteers for victims to easily find help. As a result, the site led over 7,500 rescues. There are many people alive and recovering today because of a few people’s ingenuity and initiative.
2. Hurricane Harvey and Innovation As is often the way, disasters teach us how we can be better prepared for the next time it happens. Researchers from the U.S. Geological Survey spread across the state with sensors to determine the flow of water as it receded back into the ocean. This information along with other hurricane-prone places has led to improved models about flooding. In the future, the
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3. A Broken Piano This last example comes as a different kind of disaster. Keith Jarrett, one of the greatest jazz musicians of all time, once arrived to perform for a large audience only to discover that the piano available was severely out of tune. Embarrassed and somewhat mocked, the musician initially refused to play, but after the pleading of the young event coordinator, he changed his mind. Using his extensive knowledge of music and unmatched creativity, Keith Jarrett put on a concert that has gone down in history and led to one of the highestselling jazz albums of all time. Keith could easily have seen the situation as a lost cause and left the scene, but choosing to stay produced something great. Few of us are accomplished musicians but we all have the potential to turn bad circumstances into something amazing if we look for the opportunity.
What do you see in this picture of outer space? It’s striking colors and incredible detail are beyond description. Now ask yourself, what exactly is this a picture of? This is a nebula. A nebula is a giant cloud of dust and material left over after the supernova of a star. In other words, it’s a giant mess. A mess bigger than any that could be made on earth, and yet, it’s beautiful. COVID-19 will pass and we will get through this challenging time, but remember this is also a time of learning and innovation. Whether it’s a disease or a broken piano, solutions are found when humans are tested. We have an abundance of resources and companies at our disposal to build and transform the way the world handles new challenges. Companies like Jupiter Design have teams of talented employees who help construct and produce the ideas of the future. Don’t focus so much on what we have lost but what we can gain.
There is Beauty in the Storm
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HOW TO BOLSTER YOUR BUSINESS OFFERING
t its core, the coronavirus is a human tragedy, and one that has now cost more than 380,000 lives across the globe. However, it would be naïve to overlook the economic impact of the virus, particularly following the recent restrictions rolled out throughout the UK.
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can such businesses bolster their offerings and thrive amid the ongoing chaos?
With all non-essential businesses now closed and the country effectively on lockdown, most firms are having to spend their time consolidating their existing operations and ensuring that they remain afloat during difficult times.
Even though your business may not have been too adversely impacted by the coronavirus outbreak, it’s fair to say that the demands and behaviour of customers will have changed to some degree or another.
Some companies may continue to operate as usual, however, and these entities will adopt a slightly difficult perspective even as the Covid-19 outbreak unfolds. But how
This means adapting your approach and product ranges to penetrate deeper into your existing consumer base, as you look to simultaneously adjust your stock holdings and meet the new demands of consumers
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Tailor Your Product Range to Suit the Market Conditions
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nationwide. Another key element of this is a full review of your pricing, particularly as most customers will be impacted by the coronavirus outbreak (particularly in terms of their income streams). With more competitive pricing, you can continue to sell in volume and optimise your revenues during challenging times.
Expand into New Markets Of course, the Covid-19 outbreak is a global health crisis, and one that has decimated business markets across the globe. However, firms with an international focus may still be able to target new markets in the current climate, particularly as some countries have been far less affected than others (while a few may be emerging from the worst of the crisis). This would present a unique opportunity to optimise revenue and profitability at a time when most markets are struggling, while potentially increasing your share and affording you a competitive edge over your rivals.
even after the Covid-19 outbreak has come to an end.
Tap into New Sales and Delivery Channels Interestingly, a number of ecommerce sectors have experienced increased demand during the Covid-19, and this is unlikely to change with the delivery of food, clothes and toys still permissible nationwide. With this in mind, firms that tap into new sales and delivery channels will able to reinvent their business models and target as many customers as possible, with Internet sales offering the best value in the current climate. Of course, you may need to seek out the requisite funding from cash-flow financers such as Nucleus, at least if you’re going to successfully target new channels and optimise revenues. Remember, while you may be loath to borrow in the current climate (especially if you don’t need to), this is more than justified by lower costs and increased profit margins.
The key is to target markets with both a short and long-term perspective where possible, as this means that your strategy will continue to add value
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Goodwill Giving During Quarantine Gets Customers
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uring this coronavirus, you might consider taking a two-pronged approach.
you’re doing and feel a little bit better about their situation. You did something good, so be happy with yourself.
• First, continue to sell your products and services. • Second, give far more than you usually do.
• For other people, this will be an introduction to you and your work. They will get to know you, like you and join your tribe. They might buy something from you now or they might buy later.
If you can hold online classes that help people right now and you don’t charge for them, here’s what will likely happen: • Some people will take the classes or watch the videos or whatever it is that
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• Some of those people will tell others. Depending on what you’re offering, it’s entirely possible there could be a viral effect. (Marketing-viral, not virus-viral.)
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• Your current customers will appreciate what you’re doing, and you’ll build more goodwill with them.
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• And former customers who might still be on your list or your social media platforms can be brought back into your tribe. The downside? I can’t really think of one, other than this will take you some time and effort to put together. But then again, if you’re stuck in self-isolation, odds are you have plenty of time and perhaps not much else to do. What kind of content can you offer for free? That will depend on your niche, of course. Anything that relieves stress and anxiety, such as yoga classes or meditation, is great. Anything that can show people how to add to their income right now, or get along better when their entire family is stuck at home, or distract them from what’s happening is great. Anything that makes them better in some way, that gives them a new skill or better confidence or new ways of thinking can be awesome. Think about what you want to give right now, with little thought to what you might get back, and then get busy. It could be cathartic for you, too.
Get started now.
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How To Look After Employees’ Mental Health During COVID-19
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t’s been two weeks since a nationwide lockdown has been enforced and COVID-19 turned everybody’s lives upside down. More of us than ever are now working from home and, whether you are rejoicing or recoiling at the thought of powering away in your home, there should now be a focus more than ever on employee mental health. This pandemic isn’t just causing physical illness throughout the nation but is also impacting our wellbeing. It is important now more than ever to look after the mental health of our employees. However, this can be tricky when they are all working remotely.
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Companies are aware of the importance of looking after their employees’ mental health and while they might have had strategies in place before, it is unlikely anyone could have prepared themselves for the current situation. This is new territory for all industries and, while you may be using all your time and effort to keep your business afloat during this difficult economic time, it is crucial to remember that our employees are our most valuable asset. Here are 5 ways of how employees’ mental health during COVID-19 can be looked after.
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1. Keep Connected
2. Encourage Breaks
Video calls are now the most popular way to communicate throughout companies, it’s a great way to keep some sense of normality by still seeing colleagues face-to-face.
When staff are working from home, it can be easy for them to forget to take breaks but you need to encourage people to step away from their desks.
While getting to the point may seem important as man-hours are more precious than ever and you may feel like time is wasted with general chit chat, it’s important to open the room for general discussion.
Remind everyone to take regular breaks to give their minds a rest and stretch their legs. If you offered longer lunch breaks, it could be a huge benefit to staff because they can use this time to take their daily exercise in line with government guidelines.
In the office, a lot of conversations wouldn’t have been work focused so why should it be any different now? Take the time to ask how everybody is doing. A friendly conversation daily can make a difference, especially to those who live alone and will be missing social interaction the most. The British are infamous for not talking about their feelings so don’t be surprised if all your staff members seem to be doing ok, they may simply not want to let colleagues know they are struggling during a group call. Let your staff know they can contact you privately if they need to. You should also allow your staff to set aside time during the day to contact loved ones. So many staff will have not seen family and friends for weeks and worrying about them could cause stress, anxiety and decrease their quality of work.
Staff need to switch off at the end of the working day and weekends. As they are now working where they also are meant to relax, it can be hard to separate the two. Let your staff know what you expect of them and also that you realise it is healthy for all of them to leave their computers at the end of a working day and not log back on until the next working day.
3. Make Work Management Easy Without access to the usual tools and resources, your staff can easily become stressed as they may feel they can not work as efficiently as before. You can avoid this by using cloud-based HR software that everyone can access easily. It
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allows you to keep track of everything, while also updating other members of your team. Not only can you then see how projects are getting along, but it is also a good way to notice if staff are struggling. Some of your employees may not want to admit they are finding working remotely difficult, for whatever reason. You can track everyone’s workflow and this may flag a member of staff who isn’t performing as well as they usually do. This could be a reflection of their state of mental health, so use this opportunity to reach out to them and offer help.
4. Provide Resources If staff members have previously suffered from mental health issues, they will probably already be aware of resources available to help, this could have been through yourself. However, this lockdown is affecting everyone and those who may have deemed themselves as ‘fine’ can easily be feeling negative about this strange situation and struggle to deal with it. With all your staff, share helplines, websites, online leaflets and any other useful information you have come across so they are aware of how to get help.
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You can even go a little further and subscribe staff to online mindfulness, wellbeing and meditation classes, a lot are now being offered for free! Not only can this help those who need it, but it could also prevent others from spiralling into poor mental health.
5. Be Flexible Your staff may have managed a normal 9-5 working day before, but these hours may not be practical anymore. Caring for children and vulnerable family members have now been thrown into daily lives. While caring for others and trying to work alongside, it can be difficult for staff. You need to be understanding and flexible and know that your staff may have bigger priorities at this time. Set clear, realistic expectations of your staff and allow them to complete these when best suits them. It will relieve stress for many which means when they can sit down and complete these tasks, they are more likely to deliver the standards you expect. Everybody will be coping in different ways during this time and some will find it harder than others. Even the happiest people are struggling during the pandemic but by doing everything you can to look after the mental health of your staff, you can ease stress, anxiety and worry and help them through this until we get to the other side.
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Why You Should Have Good Customer Service
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ood customer service should always be at the heart of your business. It’s a given that your product meets a very high standard or that your service fulfils a need. The quality of the customer experience determines whether you have repeat business. This may sound obvious, yet the actions of some businesses suggest they have forgotten that their very existence is determined by people buying what they are selling. Social media posts, direct advertising and email blasts are all part of acquiring, maintaining and increasing your customer base. A look at any of the top Fortune 500 companies reveals something that applies to any business, of any size, in any industry, in any country: You grow by looking after your customers. There is a direct correlation between customer satisfaction and profits because happy customers come back and they tell their friends. This has immediate implications in the digital age where positive or challenging feedback can be transmitted within seconds. Neilson Norman Group research determined that the average time
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people spend on a web page is between 10 – 20 seconds. The research also concluded that a clear value proposition had to be communicated within the first 10 seconds for a someone to continue reading. First impressions count whether online or in person. I would like to suggest four ways to ensure exemplary customer service:
A.
An effective way to engage your customer is by trying to see your business through their eyes. Put yourself in their shoes. Think about how you would like to be treated. This level of empathy also reflects the emotional intelligence you bring to your product or service which will distinguish you in the
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If you sell wellbeing, soda promotions are off message. An example of innovative customer service coupled with best practice is Guru Piercing, Brighton UK. They are in a niche industry offering a high-quality precision service. Qualified and experienced personnel deliver professional services as masters in their niche industry. There is a clarity in what they represent, the environment is impeccably sanitised and the staff connect with their customers through building rapport without being overly familiar. They state what they offer and deliver with class.
mind of your customer. The good feeling will be anchored through their interaction with you and they are more likely to return.
B. Handle complaints speedily and fairly.
This way a reasonable customer will be assured that you took their complaint seriously and did all you could to resolve the matter.
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Assess how you can improve the customer experience. The odd give away, limited discount promotional code or flash sale go a long way in maintaining customer loyalty.
You already know what you and your team offer the global marketplace. This is the time to increase your market share and create new opportunities by re-evaluating your customer service model. It’s simply good for business. About the Author Malik Muhammad was raised and educated in Jamaica and read law in London. He created The Empowerment Mastery System to influence, help and inspire businesses to cultivate their visions. Malik enjoys vegan cooking and quad biking. He is an afterdinner speaker, event host and convenes empowerment seminars internationally. His latest book COFFEE & CONTEMPLATION: a taste of empowerment is available on Amazon.
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Be clear about the consistency of message in relation to what you offer.
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How To Protect Your Online Business During The COVID-19 Pandemic
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he COVID-19 crisis was something hardly anyone saw coming and it’s completely blindsided thousands of businesses across the globe. For those of us running online businesses, however, it might have proven a blow but it’s not something that can’t be overcome, particularly given the fact that more people are sat at home potentially using your online services now than ever before.
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But what measures should all online businesses be taking to ensure they can not only weather the coronavirus storm but make the most out of it too?
Cut costs All fixed costs that can be cut should be shed as soon as possible in order to sustain the business. Go through your expenses and single out any that can logistically be cut for the foreseeable future. It might be a difficult choice to make but it could be the difference between your business surviving or failing.
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Diversify If you’ve been meaning to reach out into a new market segment then this could be the perfect time to dip your toes in that water. There are millions of people stuck at home and that opens up several interesting opportunities, regardless of your market segment. This could mean anything from experimenting with new products to starting a bespoke delivery service.
Swap couriers
For most businesses, commerce has switched completely to online retail right now by necessity. With that being the case, it’s never been more important to have a reliable courier on-hand that you can trust to get your products to your customers quickly and safely. Parcel2Go is a wonderful resource that allows you to compare and contrast couriers and the services they offer and could save your business a lot of time, money and hassle.
Expand social media Expanding your social media presence is always a good idea but during the lockdown, people will be spending more time on their Facebook, LinkedIn and Instagram profiles than ever before. Use this opportunity to really ramp up investment in your social media profile. It’s cheap, powerful and a
way of reaching out to your user base in a more personal and direct fashion so you can keep your business and brand at the front of people’s minds during the crisis.
Pricing You’ll undoubtedly have noticed many businesses ramping up their prices in response to the coronavirus, particularly grocery stores. With everyone else raising their prices, perhaps you could buck the trend by offering some great deals and incentivising people to choose you over the competition? It would also do wonders for your brand.
Planning and adapting It’s obviously easier for smaller businesses to adapt to change but even larger organisations should have contingency plans in place when it comes to alternative supply chains. Whether it’s opening up alternative sales channels or researching new consumer trends that are being born as a result of the COVID-19 pandemic, it’s never too late to pivot in order to survive. Above all else, however, perhaps the powerful thing you can do to keep your business afloat is simply to remain positive. We know it’s almost impossible to do during such uncertain times and motivation can be difficult to mind. But a positive mindset will always foster positive results.
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