Business Education

During the Coronavirus Quarantine, Communication is Key

With the massive disruption the coronavirus has foisted on businesses and consumers alike, it’s more important than ever to keep an open line of communication. While many focus on the need for telecommuting or teleworking, they do not highlight on the very vital role of maintaining good relationships with not only customers, but vendors, and peers as well.

What the Coronavirus Quarantine Teaches Businesses

If COVID-19 teaches businesses large, medium, and small anything, it’s the fact to always expect the unexpected. Or, be prepared for as many contingencies as possible. While you can’t proactively guard against every single scenario, there are situations which your business should be equipped to handle. For instance, natural disasters, criminal activity, and of course, epidemics or as we’re experiencing now, a pandemic.

Because nobody can predict what will happen next with the coronavirus, this causes great uncertainty. And this uncertainty has a direct impact on businesses. The only thing they can do is try to prepare for all outcomes. —JD Supra

This isn’t by any means easy, but it is necessary to at least have a framework to deal with emergency situations, particularly those that have a long-term impact, such as the one the business world is experiencing right now. If you aren’t prepared, it will have a more disastrous impact on your company than it otherwise would.

How to Maintain Business Relationships during a Time of Crisis

When catastrophe strikes, it can come in many forms. If you’re business is able to continue operations, even in a very limited capacity, then it’s of utmost importance to keep lines of communication open with everyone. Here are a few helpful suggestions for how to do just that:

Reassure employees. Although no one can predict the future, you do need to be upfront and honest about your situation with your team members. While you don’t need to paint a doomsday scenario, you do need to let them know where things stand and what’s likely to happen.
Reach out to customers. Many churches around the country are digitally broadcasting their weekly messages. And, some are even taking it a step further by personally phoning every single member. You can do the same with your customers, starting with the most valuable. Give them a call personally, or have employees join you to touch base with everyone.
Speak with your vendors. This is basically the same idea. But, here you’re doing two things — giving them a heads-up of where you stand and inquiring as to what they are doing and have planned for the near future.
Take some time to reflect. You should also take advantage of any downtime to do a little introspection. Use the opportunity to unplug in a quiet place and think about your next course of action and how you can improve your business.

What other suggestions do you have? Please comment to let everyone know about your thoughts and experiences!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

Like this article?

I Found Out an Employee has been Doing Something Unethical but Not Illegal – Now What?

August 12, 2022 No Comments

First, this has to stop right away. And second, it has to stop because you definitely don’t want this type of practice to be representative of your business – even if it is somehow benefiting your customers. (For example, cheating a manufacturer’s rebate.) Even if it’s small, the very fact that your employee has to do something that isn’t ethical makes it wrong. You already know this, which is precisely why it bothers you in the first place. Regardless, it can be very tempting to let certain instances slide. But, you must think about the possible consequences and repercussions should this go bad. So, let’s get into a few suggestions for what to do when you discover an employee is doing something unethical but no illegal. Ethics and the Law There’s no question that just because an act isn’t ethical doesn’t mean it’s necessarily illegal. After all, the law doesn’t deal strictly with morality. (Although a lot of laws are indeed based on standards of decent behavior.) Notwithstanding, you instinctively know when a practice isn’t ethical and just because there isn’t a direct on-point law, that doesn’t mean it’s all right. The experts in leadership and management at Michigan State University emphasize that it’s important to consider who is involved with the situation when dealing with unethical behavior in the workplace. Is it just one person involved or are there several people connected to act? —Houston Chronicle Business Management However, there could be illegality. What might seem to be mostly harmless could be against the law. Obviously, this is exactly what you should know. Take the time to research the subject and find out if there are legal issues – be they criminal, civil, or possibly, both. How to Deal with Unethical Employee Behavior If you learn that what’s going on isn’t illegal but is still unethical, you have some options. Unfortunately, none of them are particularly pleasant. But, your business’ integrity could well be at stake. Here are a few ways to deal with unethical employee behavior: Arm yourself with facts. Before you act on the issue, be sure to have all the facts at your disposal. If necessary, write them down to become familiar. You’ll undoubtedly have to confront this employee and he or she will probably have at least a few justifications and/or excuses. So, be ready to counter and push back with the facts. Talk with your employee. Speak with your employee and your HR leader. If your company doesn’t have such a department, just speak with him or her one-on-one. Be polite but firm. And, listen to what he or she has to say. They’re likely justifying their actions and it might be something that’s easily fixed. Establish a new company policy. You may have to establish an entirely new company policy. Or, make adjustments to an existing one. Regardless, be sure that every single employee knows so this doesn’t continue. What other suggestions do you have for dealing with this type of situation? Please share your thoughts and experiences so that others can benefit from your input! Interested in learning more about business? Then just visit Waters Business Consulting Group.

From Ketchup to Mercury: Medicinal Myths and Lessons for Small Business Evolution

December 26, 2024 No Comments

Throughout history, the pursuit of innovation has led humans down some surprising paths—sometimes with remarkable results, and other times with lessons learned the hard way. Two fascinating examples are ketchup and mercury, both of which were once hailed as medicinal marvels. Yep. That’s right. Ketchup and mercury were use as actual medicines.

5 Effective Methods for Coping with Fear and Anxiety Right Now

April 24, 2020 No Comments

Anxiety, stress, fear, and even anger. All these emotions result from a lack of control in a state of uncertainty. And, little else can describe the current state of events. It’s a time filled with unknowns and that’s not good for the human condition. After all, no one really relishes living in an environment of uncertainty. What Causes Fear and Anxiety This is precisely what triggers feelings of fear and anxiety — uncertainly. Having little to no idea of what to expect next or, being without any sense of control. It’s a combination of these two elements which cause anxiety, stress, fear, anger, and more negative emotions. For many people, the uncertainty surrounding coronavirus is the hardest thing to handle. We don’t know how exactly we’ll be impacted or how bad things might get. And that makes it all too easy to catastrophize and spiral out into overwhelming dread and panic. But there are many things you can do—even in the face of this unique crisis—to manage your anxiety and fears. —Help Guide International The good news is, even during the most uncertain and stressful times, you can do something to deal with such negative emotions. Better yet, once you begin to establish even a small sense of control, you’ll start to feel empowered and that by itself is a huge relief. 5 Ways to Cope with Fear and Anxiety To deal with anxiety and fear, you have to first accept your current set of circumstances. Fighting reality simply won’t work, because it can’t be changed. However, you can change how you respond to fear and anxiety by doing the following: Contextualize. Your first step toward conquering or at least coping with fear and anxiety is to contextualize. Here’s an example. Money is tight and bills are due. But, it’s only a temporary circumstance. It’s not an end-of-life situation. You will get through it and putting things in context is a big help. Take small steps. Next, you’ll need to take small steps in order to feel a sense of control. Sticking with the example above, you can reach out to vendors and ask what can be done. Just by communicating and better understanding the what’s actually going on will give you a sigh of relief. Limit news consumption. You’ve probably already heard this advice several times. So, take it to heart. Limit your exposure to news media, including social media, and other outlets. You only need to keep tabs on key developments but not bombard yourself with big doses. Revisit and revisit your goals. Now is a great time to revisit and revise your goals. This will help you to see and feel better about the future. And, it will also provide you with a sense of new possibilities, which is very empowering. Visualize and start to execute. It’s also a good time to visualize and execute. Although you may not be able to take things fully to fruition, you can at least start and that too, will help to give you a sense of control, accomplishment, and hope. What other suggestions do you have to combat feelings of anxiety and fear? Please comment and share your thoughts and experiences! Interested in learning more about business? Then just visit Waters Business Consulting Group.