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Writer's pictureCherie Sayban

5 Business Tactics to Strengthen Your Business During Covid-19

Updated: Mar 18

Like so many other small business owners, you may be fearful of what will happen to your business during the 2020 pandemic. And while every business and industry is different, there are several strategies that are common to most.


covid protochol

Be Calm. This probably sounds unhelpful, but it might be the most important item on this list for several reasons. For starters, you cannot make good business decisions if your emotions are at a fever pitch. And right now, you need to make good decisions. Focus on the things you can control and accept the things you can’t control. Some challenges might be nearly impossible to surmount, but panic is not going to improve your chance of success. And if you have employees, they need to see you acting confidently as well because they are certainly feeling stressed right now too. Above all else, stay strong and stay calm.


virtual meetings with a bookkeeper

Seek Advice. One of the unique aspects of Covid-19 is literally everyone is dealing with the same global situation in one way or another. That means there are millions of businesses who are having the same struggles. So get in touch with small business groups online. Find others in your industry and learn how they are coping with the current environment. Talk with your accountant, attorney, or banker and see what programs they might be aware of to assist your business. Speak with your own employees. Sometimes the people inside your own organization have the best insight into what you need. Which leads us to…


Don’t Talk Like a Leader. Be a Leader. Obviously, the health and wellbeing of your employees is the most important thing. You can do a lot for the future of your company by showing your employees you care. You might have to let people go temporarily or permanently, but do it out of necessity, not convenience and make it your priority to help them however you can. There will be a massive shuffling of opportunities when we all come out of this. The strength of your business in the years to come may depend on how you treat your people in the most trying times. Leadership can’t be something you write in an email or share somebody else’s post. It will be determined by your actions.


remote meetings with your accountant

There Is Always Something To Do. No customers? Sales way down? Unable to operate? Do you remember all those things you had on your management to-do list all these years that you were too busy for? Well, but the remote down and get to it! Write a business plan. Organize your human resource files. Write those policies you have been needing for so long. There isn’t a business that doesn’t have all sorts of zero-cost projects that could be worked on while we wait. So make a list, set yourself some deadlines and work.


strategizing with your accountant

Prepare To Be First. My dad once told me that no matter what is happening in the world, somebody is making money. Use this time to look for opportunities. It could be a different way to do your business with the changing culture of remote working. Companies who can thrive with remote work will find a path to reduced overhead costs and happier employees. There might be a chance to buy a competitor or expand where others have faltered. Don’t be afraid to dream big. The business owners who prepare the best are the ones who will be best rewarded.


We are here to help you navigate through the constantly changing economy during this pandemic. If you would like a complimentary consultation please connect with us HERE.


About the Author


Cherie Sayban, Certified Public Accountant

Cherie Sayban is a certified public accountant. She has over 25+ years of experience in Finance, Accounting and Bookkeeping.


Cherie Sayban CPA provides various financial and accounting solutions to small and mid-size businesses. Our portfolio includes: tax preparation, payroll preparation, accounts receivable and payables, general ledger, and QuickBooks . Our bookkeeping workshops are offered both in-person and virtually.


To learn more about how Cherie Sayban CPA can help you and your business, click HERE


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To learn more about Cherie Sayban CPA's website finance services, how we can help grow your business through social media or even strategize with you on some ideas to better manage your businesses finances. Visit us at www.CherieSaybanCPA.com

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