As if running a small business wasn’t hard enough, now we’re dealing with a pandemic. At this point, no one has any idea what that will mean for second-stage companies (between 10 to 99 employees), so we sit and wait. Waiting is not something we do well as business owners.
Here is what we know:
- The financial market is taking a hit
- Events are being canceled
- Large companies are asking employees to work from home
- Our health care system is overwhelmed
Here is what we don’t know:
- When will the spread slow?
- How long will this go on?
- Will the market stabilize?
- What will the effect be on our businesses?
There are a few options for moving forward.
Curl Up in the Fetal Position Option
While a popular choice, it will more than likely cause an adverse effect on your business. While it is nice to bury your head in the sand or hide under your covers with your 200 rolls of toilet paper, it won’t solve anything and you’re contributing to the panic.
Educate and Respond Option
Personally, I suggest this option. I met with my leadership team today and we talked about the coronavirus. It was not something we wanted to address but for the business and employees, it was a necessity. We broke it down by what we knew, 1). We are a small company and for now, are as safe as we can be working at our office; 2). If you sniffle, you stay home; 3). We must conduct business as usual and continue to serve our clients; 4). It is important for us to continue to educate ourselves and make informed decisions and finally 5.) Don’t panic, it is not going to help anyone. Stay calm, informed and for the love of all that is holy; wash your hands.
There is so much we don’t know and human nature seems to be “fill in the blanks,” which only makes it worse.
We are all going to be ok.