Neil &  Company CPAs, PC

A Professional Corporation

1184 North 15th Street, Bozeman, MT 59715

 

Phone: 406-587-9239

 

October 2020

Reinventing Your Business

Reinventing Your Business

The COVID-19 pandemic disrupted everything from education to business as we know it. Here are some considerations as you continue to run your small business during these challenging times.


VIRTUAL VS. IN-PERSON
With stay at home orders, lockdowns and temporary closures, your employees had to work remotely to keep business running relatively smoothly. Now that it’s been several months, determine whether it makes sense to keep employees remote. Recent research* indicates that nearly half of employees feel more productive when working from home. Of course, you’ll want to implement measures to ensure your employees remain productive. One bonus of not being tied to a physical office is that it widens your pool for future job applicants. That means you could attract top talent who live in another city or state.


OFFICE OF THE FUTURE
Even with remote employees, you may find that you still need an office; albeit a less expensive smaller one. For employees with jobs that don’t allow for remote work, de-densifying will be key. Ensure employees are adequately separated or alternate days that they come in. Be sure the office is sanitized regularly. Safety first. And if employees need meeting rooms to visit with clients, when videoconferencing isn’t an option, maybe reconfiguring your office space to include more meeting rooms is necessary.


BEHAVIOR CHANGES
More people are shopping online and staying home. Maybe now’s the time to create your online store to allow customers to order your products. Or offer curbside pickup for local customers. Providing multiple options for customers to buy will increase revenue and help build brand loyalty. Also, now might be the best time to implement a digital marketing strategy. With more people spending time online, enhancing your social media presence or delivering relevant content can pay off.


* https://www.mckinsey.com/business-functions/organization/ our-insights/reimagining-the-office-and-work-life-after-covid-19


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