These 3 Mistakes Will Cost Your Business Big Time

Written By Alla Levin
July 14, 2021
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These 3 Mistakes Will Cost Your Business Big Time During The Pandemic

Contrary to what some may have you believe, there’s very much still a pandemic happening around us. Things are slowly getting back to how they used to be, but with some pretty substantial changes! The way you have managed your business during the pandemic is such a critical talking point. How well have you handled everything, and have you made any vital mistakes?

Sadly, some of you are guilty of making a few common COVID-19 business mistakes. You may have felt their impact already, or you might feel them soon. Thus, you need to identify these mistakes, accept that you’re making them, and correct things before they cost your business big time!

Business Mistakes: Not Having a Contingency Plan

A contingency plan is there for instances where something unplanned happens. Like, for example, a pandemic! Those of you without contingency plans last year will have felt the full force of COVID-19 as your business suffered dramatically. Those with a plan would’ve been able to soften the blow because they were ready for something like this to happen. 

As the pandemic raged on, you had many opportunities to plan for reopening and to implement a new contingency plan. If you still haven’t done this, then you’ve only got yourself to blame if things take a turn for the worse. 

Not looking after your employeesbusiness mistakes

Your employees have been through a lot during this pandemic, as have you. But, as the business owner, you have a duty to look after your employees during difficult times. Many businesses, like Grupo Caliente, have implemented programs or schemes to ensure that all employees are protected during the pandemic and that they are supported both financially and emotionally. 

If you don’t do this, your employees are unlikely to return to work for you. At the very least, they will work until they get another job lined up. Why would they want to stay at a company that completely deserted its employees when times got tough?

Not looking for temporary solutions

Did your business completely cease operations due to the pandemic? Were you stuck at home for months, unable to do what you’d normally do? In most cases, there is always a way for you to get something done. This might mean altering the way you work, but you can find temporary solutions until things get back to normal. For example, working from home instead of working in the office – is a temporary solution that lets you carry on with your work and potentially talk to clients. 

The worst mistake is just doing nothing throughout the pandemic. When you think hard enough, there will always be something you can do – even if it’s temporary – to keep your business ticking over. 

Are you guilty of making these mistakes? If so, it’s not too late to the right your wrongs. Work on doing the opposite, and you can help save your business from failure during this pandemic. But, if you keep making the mistakes over and over again, you’re only going to end up in one place, and it won’t be a happy one. 

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