Blog

A business owner’s response to crisis can be game-changing

2020 has proven to be the year of unprecedented challenges – from a global pandemic to rising unemployment to societal unrest. This year has hit everyone hard – including business owners.

No one was prepared for everything this year had in store. But those with the right mindset and adaptation skills will find themselves in a better position to succeed. Here are three recommended approaches to this unique period in our history:

Safety first

Your staff may have transitioned to working from home for the past few months, and you may be ready to bring them back to the office. Having people physically in your company headquarters may be good for optics. But first and foremost, you should consider whether re-opening is what’s best for your employees – and customers. Prioritize the health of everyone. If working on site is the only option, make sure you’re promoting healthy practices at work. Failing to provide a safe workplace could result in you losing valuable employees, and could even open you up to liability.

Make informed decisions

If 2020 has taught us anything, it’s that the world as we know it can change in a heartbeat. As an employer, every decision you make has the power to affect the lives of your employees, your customers and your community. It’s your responsibility to stay on top of the public health crisis as it unfolds – and to seek out information from reputable sources. Having an accurate and up-to-date understanding of the situation can help you to adapt to the fluid situation.

Be willing to change your mind

Flexibility is the key to success – especially when the economic and social landscapes are in such a state of flux. There is no blueprint for how to respond to this crisis. Be willing to make courageous decisions – and also to admit your mistakes, if necessary. Your customers and employees will respect a leader who learns from their mistakes and changes course as needed, for the best interest of everyone involved.

Help is available

The challenges of our time can be overwhelming for any business owner. An experienced business lawyer can help guide you through any hurdles that arise – from creating new policies and procedures to re-evaluating your business plan to helping you strategize around a sudden decrease in revenue.

No Comments

Leave a comment
Comment Information
  • Toll Free 800-339-6086
  • Fax 905-525-0031

Office Location
1 King Street West
Suite 500
Hamilton, Ontario L8P 4X8

Toll Free: 800-339-6086
Hamilton Law Office Map