For some small businesses the coronavirus has meant that some businesses sadly have had to shut their doors permanently for others they have to in theory start again.
Will business be like it use to? Will I be able to just open and business as usual? There are many questions without a foreseeable answer.
To be honest even the most in touch commentator will be unable to answer these questions.
When businesses re-open the geography will be completely different and still very uncertain.
As this is just the first wave of the virus we don’t know what will happen in a few weeks or months. Do we re-open and then in a month or two will the second phase kick in and we are back in the same position again with another shut down and more time away from business? On thing if for sure that it’s not going to be business as normal.
As a small business owner you will be asking many questions and sadly no concrete answer will be available. In reality with what ever happens, it will be like starting again.
When you do go back, use the time to evaluate what your new business plan is although as I mentioned the plan may change due to the environment yet again. Maybe you have had no choice but to let some people go and do you just rehire them just to let them go again in a few weeks? Do you run a skeleton crew and wait and see? The fact is we are still in uncertain times and nobody has a crystal ball and can predict the future.
My suggestion is if you are restarting start back small, tread water until such time as you/we have a better forecast, don’t go getting yourself into debt or make deals based on an uncertain immediate future. Go ahead and try to make enough that you can get through the times, because if you can’t support yourself and maintain yourself you won’t be able to carry on the responsibilities with staff when they come back.
During the pandemic I myself took some time away to re-evaluate. As a small business owner we generally don’t look after ourselves real well. I decided to step back and I took some time to spend with the family, re-evaluate where I wanted the group to go and did a course that was just for me away from business. I needed to have a break. I think it had been 3 years since I took a real holiday. Although I was pushed into it I feel refreshed and ready for the challenges that lay ahead.
In short the most important person in your business is you! You have to make sure that you are able to start again and deal with this uncertain time. Hopefully the environment will be clearer.