What ALL Entrepreneurs Should be Doing During COVID 19

By now we’ve all seen the memes, tweets, and other social media posts suggesting how everyone should be spending their time during quarantine. Everything from starting a business, expanding a new one, losing weight, investing in stock, etc, etc, etc. However, what SHOULD entrepreneurs actually be doing during these trying times?

Many of us are stuck (or safe, depending upon how you look at it) at home. Some of us are still working while others have been furloughed or seen their business forced to temporarily close down. Either way, we all technically have extra free time, even if it is just the time we save from having to commute everyday. Many have found themselves scrambling to find something productive to do that will do them some good when this is all over. Here’s a list of suggested actions entrepreneurs can take to assure their business has a better chance of thriving during and after this pandemic.

1. Do Nothing

Literally, do nothing. Entrepreneurs are the driving force behind their businesses. Many work at an almost feverish pace to see their dreams turn into actualized success. However, overworking can be damaging. The stress and lack of time to recuperate will slow down your ability to be productive. Add to that the stress of everything that is currently going on in this world and it should become quite clear how doing nothing can be beneficial. Your business is only as sharp as you are. Taking time to rest and recharge is important. What better time to do that than during mandated isolation? Whether it’s a specific day of the week, an hour every day or a even week-long mental vacation, make taking time to do nothing business related a priority. You’ll be able to approach everything with a much clearer mind once the break is over,

2. Review

Again, entrepreneurs are no strangers to hard work, This pandemic is not changing that. Instead of looking for new things to do, stop and review what you are already doing. The best solution might be to continue doing what you are currently or maybe simply make minor tweaks. Even if you have all of the time in the world there is no need to re-invent the wheel. Take this free time as an opportunity to look over your business plan, current marketing tactics, inventory, vendors, operational processes, website and other methods/tools you use to run your business. Identify both strengths and weaknesses, then set about capitalizing off of and adjusting what you already have in place.

3. Plan

It can be quite tempting to make a long to do list and just start doing it all. However, that’s not really the best way to set yourself up for success. Yes, you are clearing things off of a list - which always feels good - but how efficient are you being? Take time to write out a clear plan for what you want to see happen. Every action should have a purpose. Writing out a plan will aid in creating a prioritizing your actions and bring far more meaning to finishing tasks than just having the ability to scratch something off of a list.

4. Research

Lastly, do your research. There are a ton of resources, news, and tools that can help entrepreneurs in these trying times. Along with that comes a ton of false narratives and biased opinions. Do your research on everything you come across. Each business is unique and there is no one-size-fits-all solution. Dig deeper into everything you find out in efforts to make the best decision for you and your business.

Please do not hesitate to reach out with any questions should you need assistance with a deeper dive.

-Sheneka