How Do Small Businesses Maintain Sanity in the Chaos?

I know many small business owners who have suddenly become yogis, bakers, Happy Hour experts, full-time homeschool teachers, and volunteers. For many the “free” time is merely time spent avoiding, embracing, or stressing over the uncertainty of their business. 

But here’s the thing about small business owners: they know how to sustain with limited resources and impending doom. Some don’t make it, regardless of pandemics, but I believe survival is embedded in the DNA of most small business owners. Many will get by, especially with the help of SBA and PPP loans, grants, and crowdfunding, but what should you be doing in the meantime?

Cutting costs

There’s never been a better time to check the balance sheet. No matter if you’re in the positive or negative, you should be finding ways to cut costs. All extra (meaning unnecessary) expenses should be removed, from the co-working subscriptions to the bi-monthly paper expense. Just like the country is relying on essential businesses, you should be relying on essential expenses only. 

Go through your credit card statement, monthly bank statement, and unroll.me app line by line to assess every single charge and make sure it’s worth it to your business, and don’t be afraid to call vendors about lowering monthly charges before you drop them. Have a staff manager or your bookkeeper there for accountability if you need it.

Rallying the troops

We’re in crisis mode, which means your business should be responding to the crisis. I don’t mean sending an email reminding customers that you exist and you “recognize the importance of COVID-19.” Look for ways to support those battling the pandemic. Do you have the resources to make masks, to make gowns, to send groceries to local seniors? Do you have the ability to send care packages to those who are isolated alone? What can your business do? 

Turning to mental health

Regardless of whether your small business is still running or on hiatus, mental health is crucial. You need to acknowledge this for the sake of yourself and your staff - and you need to find ways to incorporate mental wellness into your new “work day,” whatever that means. Our team at Grey Horse takes a mandatory break at 3pm every day, at which point all of us put on shoes and go outside to breathe in the fresh air. 

Establishing routines

Even if you don’t have a home office or a reason to put on pants, establish new routines that make you feel good and make you productive. Something as simple as getting out of bed, moving into the living room, and not returning to your bed until the end of the day is a good, healthy routine. We recommend setting the same alarm, ending your day at a certain time, and setting up a work-only space, even if it’s in a hallway! Because this quarantine will extend for many weeks, you want to make sure you’re adapting your space to your new lifestyle. 

It’s also a good idea to make plans with friends (hey, Zoom), try new recipes, journal, or do something enjoyable that doesn’t involve a computer. Experts may be predicting the eventual end of COVID-19, but with nearly half of all human beings currently in lockdown and the post-coronavirus fate of of the economy unclear, none of us know when this will really end - but the saying “we’re all in this together” has never felt more true.