Business Mistakes You Don’t Want to Commit in the Age of the COVID-19 Business

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The pandemic is one stress test most businesses were not prepared to take. For some, filing for bankruptcy and shutting their companies for good is the best choice. For those who chose to fight, many are having a hard time keeping up.

Keeping a brand afloat, satisfying clients, and keeping employees onboard is nowhere easy during the pandemic. There are lots of adjustments you need to make as well as issues you need to take care of. Make the wrong business move and your business can suffer grave consequences. But what mistakes should entrepreneurs be wary of during these trying times?

Moving Your Staff Remotely Without a Concrete Plan

The pandemic made businesses rethink their operations. Now, millions of employees are suddenly working from home. While many were happy about the transition, some are having a hard time adjusting to their new work set up.

Many companies failed to properly plan the move. In an attempt to avoid business disruption, they chose to immediately allow their staff to work from home. Now, they are starting to realize that managing a remote workforce is nowhere as easy as it seems.

This is why adequate planning is crucial before one decides to form a remote workforce. Tons of challenges come with managing a virtual team. This includes communication, collaboration, and performance tracking issues. Knowing how to address these challenges will make it easier for you to set up and manage your team.

If there is one thing you don’t want to forget when moving your workforce remotely, that is providing your team with adequate IT support. Chances are, you will be providing them with the equipment they need to work on their tasks from home. You will need strict security protocols in place and a reliable IT team they can call in case of an IT emergency.

It is also a good idea to have a network of providers who can drop by to quickly do computer repairs. Remember that not all issues your IT team can handle remotely. There will be times when a technician needs to physically drive to your staff’s home and fix their computer on-site.

Know that cyberattacks are on the rise during the pandemic. If there are network breaches, you can experience more than just data loss. You can end up losing your brand reputation in an instant. Work along with your IT team and find ways to better secure your cyber operation.

Failure to Engage with Clients

Small businessFor brick-and-mortar businesses, it becomes harder to engage with customers since most of your clients are sheltering in place. Before, it is easier to engage your customers as you can offer them with real customer experience. But with more people staying indoors and on the internet, it becomes a must that you find other ways to communicate with them and keep them engaged. Failure to do this leads to decreased brand awareness and poor business performance.

With or without a pandemic, it is only necessary that you don’t stop engaging with your customers. Thankfully, technology makes it easier to connect with your target audiences. For one, you don’t want to make the mistake of stopping your marketing efforts.

According to statistics, 98% of consumers believe businesses should not stop advertising during the pandemic. Consumers want to know how your business is affected by the current crisis. They want to see what businesses are doing to fit in the new normal and what they can expect for brands. Continuing your marketing but rethinking your strategy will help your customers stay updated on the latest efforts of your brand.

For best results, find out where your customers are online and communicate with them on their channel of choice. Ask for their feedback and listen to their struggles. You can learn valuable data for being proactive enough and formulate the best strategies to bring your business closer to your customers despite the pandemic.

Hiding From Your Tax Obligations

For some businesses, financial struggles are common. You may be behind your taxes and have no means to pay for them during the pandemic. But being irresponsible enough to communicate your company’s current financial situation can only lead to bigger dues. Instead of hiding, communicate with your tax agency.

During a crisis, it is best to still file your taxes even if you are unable to pay your taxes for now. Know that there is no point hiding from your tax obligations. There is a possibility that you can strike a good deal with the agency. You can actually work something out by providing them with a detailed explanation and finding ways to compromise.

Your business may be having a hard time coping during the crisis. Knowing what mistakes to avoid will save you the trouble and headache. With proper planning, you can succeed in moving your team remotely. You can keep the trust of your clients with continuous engagement and avoid bigger problems by keeping up with your tax obligations.

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