Coronavirus: Impact to Your Business, Health & Happiness

While it’s still difficult to tell how the Coronavirus will impact us in the long term, there’s no denying that it is having a huge impact on our health, economy, and way of life.

Just last week, Governor Newsom issued a statewide order for all residents to ‘stay at home’ amid the coronavirus outbreak.

Whether the coronavirus is a dangerous pandemic or just a common cold, your business will likely be affected due to shelter-in-place orders, public perception, and fear. We’re going to empower you to make informed decisions for your business. Here are some possibilities to keep in mind, and actions you might take now to mitigate the risks to your business.

Consider shifting to virtual or remote services if you do not currently offer them. Now is the perfect time to start thinking about which of your services you can offer virtually and how you can set up your employees to work remotely. We’re working on this ourselves, right now, and we’d be happy to offer our experience and recommendations about online platforms.

If your business sells physical goods, now is also a great time to consider updating your website (or creating one if you don’t have one already), starting an online blog, and/or start selling your goods online. Even if you aren’t particularly “computer savvy,” it is surprisingly easy to create a beautiful website and/or blog through wordpress.com.

Consider marketing on social media! I’m sure no one will be surprised to learn that our social media consumption has increased significantly over the past couple of weeks. Now is a great time to start engaging with your friends and prospective clients about the types of services and goods you offer and to learn about social media marketing. Whether you choose to do it on your own, or hire a reputable online marketing firm such as Swingpoint Media or Spot Color Marketing (two of my favorite local social media marketing firms), now is a great time to take advantage of social media marketing.

And lastly, stay as informed as you possibly can.

For your reference, here’s a link where you can track infection and death rates over time. As you can see, the numbers are increasing daily. Most of the people who die from coronavirus are over the age of 60,  and people who have chronic illnesses like heart disease and diabetes have a 5–10% higher chance of dying from it.

This video shares that, as of January 30, 2020, approximately 8,000 people had been infected with the Coronavirus, and 214 had died. The video indicates that symptoms are similar to a bad respiratory cold, with fever and cough, and that the only treatment is fever-reducing medication. Taking precautions now to up your intake of immunity-boosting supplements, the same way you might if there was a cold circulating in your community, would be a great idea.

ADDITIONAL TIPS:

  • Wash your hands, more than you usually do, and consider wiping down surfaces on airplanes, public transportation, and at the gym with your own sanitizer wipes.
  • Have emergency food, water, and medical supplies prepared (always a good idea).
  • Practice breathing through your nose instead of your mouth. Nose hairs offer natural protection from airborne viruses. This is especially important for those living in big cities.
  • Consider avoiding crowded places like airplanes, churches, theaters, etc.
  • Make sure you are drinking plenty of purified water.
  • If you smoke, it’s an especially good time to quit to protect your lungs.

In the event you or a loved one do get sick and need to go to the hospital, it’s important to prepare a list of your needs. Include your preferred hospital, your primary care doctor and any specialists, food allergies and preferences, and supplements and medications you take. Also indicate any procedures you desire or don’t desire. Additionally, you should name the person or people authorized to make healthcare and financial decisions for you if you cannot make them for yourself. We can help you prepare these documents in our office, either to take precautions against coronavirus or for any other reason. Please get in touch if you are ready to get this handled and would like our help.

We are here to support you making educated, informed, empowered decisions for yourself and your business.

This article is a service of Pantea I. Fozouni, Family Business Lawyer®. We offer a wide array of business legal services and can help you make the wisest business choices throughout life and in the event of your death. We also offer a LIFT Start-Up Session™ or a LIFT Audit for an ongoing business, which includes a review of all the legal, financial, and tax systems you need for your business. Go online today to schedule a LIFT Session and find out how to get this $750 session at no charge.

CategoryBusiness law, Family