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Is Your Hospitality Business Facing COVID-19 Uncertainty? Make The Most Of The Moment With These Lock-down Tips

March 26th, 2020  /  Blog, Clip member profile, Global Hospitality, Industry Insights, Mental Health, Uncategorized  /  None

Over the course of a few short days, the emergence of the novel coronavirus , and it’s subsequent infectious disease named COVID19, took the world economy by surprise and threw it into a nosedive. One of the industries being hit hardest during this pandemic is the tourism and hospitality industry. Out of an abundance of caution, governments around the world have shuttered businesses and ordered self-isolation orders. As hotels, restaurants, and other people-centric business close their doors, many are left wondering if there is any light at the end of the tunnel economically.

With so many unanswered questions hanging in the air about the days, weeks, and months ahead, we wanted to take a moment to shine a light of hope in the darkness. If you are an owner, employee, or investor in the hospitality industry, there are several steps you can take today to begin preparing for that day when the open sign lights back up.

Steps to Help Your Business Survive A Lock-down

History books show us time and time again that it’s not a matter if a crisis will occur, but when. When the bottom falls out, it is often those entrepreneurs and leaders who lean into the crashing wave and find a way to pivot toward what the future may hold – no matter how uncertain.

Andy Grove, the former CEO of Intel, observed, “Bad companies are destroyed by crisis. Good companies survive them. Great companies are improved by them.” If you and your hospitality or entertainment company is staring into the ever-widening void being torn into the market by COVID19, consider being a leader who comes out the other end stronger than ever with these opportunities:

  1. Stay Positive

While it may seem like the time to panic, it is likely that at this moment you are just fine. Take the external circumstances away for a moment and remind yourself of the reasons you have to be grateful today. This positivity can be just as infectious as panic.

Not only are you trying to make it through the current situation, but your employees and company are likely looking to you to make tough and quick decisions with little information available. When you are facing tough moments, try to infuse your mind and speech with positivity. This doesn’t mean to sugarcoat the hard reality of the moment, but rather, find unique ways to remind yourself and others that you have this day – today – to make a change for the better that could turn the tide in the long-term battle.

2. Find Unique Opportunities

Now that you’ve taken a moment for mindfulness, it’s time to get to work. If your restaurant or hospitality business has found its doors shut for the foreseeable future due to COVID19’s rampant closures, it may be tempting to throw in the towel. However, consider the reality and take this as an opportunity

Can your business move any sales or services online? Do you have a particular niche audience that could utilize your viewpoint right now? Can you move to a take-out option that allows for customers to still use your business while obeying lock-down or shutdown orders?

While there are many opportunities to be found in this new COVID-19 economy, be sure to be vigilant to go above and beyond in protecting your employees and customers. Make sure to sterilize and sanitize all aspects in accordance with CDC and WHO guidelines, and try to offer enticing and protective services for your employees who may fear to work in this time.

3. Launch A Delivery Service

One truth that the corona virus crisis has laid bare is that companies and organizations who had begun to move toward delivery and online ordering options are primed for a business lock-down of this magnitude. Even though individuals may not be able to leave, they still need to eat!

Consider hanging onto your kitchen staff and switch your wait staff into delivery drivers to take your dishes and other services to your customers where they are. A silver lining of this crisis is that your customers aren’t staying away because of you. So do your best to find a unique and safe way to bring yourself to them

4. Take Advantage of Government Grants

Almost daily there is news of federal, state, and local governments taking monumental steps to ensure that the economy holds together. For businesses in the hospitality sector, there are ample opportunities to apply for and receive grants and loans to make ends meet while the lock-down drags on. Do your homework by researching your local government’s small-business resources, and see if there is money available to help your company and your employees weather the storm financially.

5. Collaborate Like Never Before

Another reality of a crisis is the ability for humans to band together like they never have before. Around the world, billions of people are reaching out to one another for hope and encouragement during their particular lockdown situations

Know this truth in the middle of COVID19 – you are not alone. Nearly every business leader is experiencing the same stress, fear, and anxiety that you are facing. Why not reach out to leaders in your industry or location and see if there is a chance to chat and collaborate on what the days ahead may look like? You may be surprised how many people take you up on your offer to think together! This moment holds a great deal of opportunity for networking on a massive scale!

Above all else, remember: while many will panic at the situation, the
wise pivot to find new ways to adapt. Don’t panic – pivot.

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