Five Strategies Business Owners can Work on Remotely

If you run a business, and are being responsible about social distancing and staying at home, you’re probably wondering what the heck you can do. It’s a bit of a perfect storm with plummeting markets, virus-related quarantine and uncertain economies. The one thing you can be sure about is that the storm will eventually pass. We may not know how long it’ll take or what the full impact will be, but there’s no sense doing nothing in the meantime.


Here are five things you can do from home (or anywhere), and it’ll benefit the business in the short and long term.

Number one: Create digital assets. 

You know that book you always wanted to write? Or those blog drafts that you haven’t completed yet? Now is the perfect time to start working on them.


As the world gets more used to the idea of moving online, it will be a necessity - not a luxury - to have digital assets. An asset is something that makes you money. Digital is when the existence is non-physical. Your digital assets can be your e-book, your online course, or your proprietary software. Start creating.

Number two: Work on internal systems and processes.

There are inefficiencies in the business that have cost you time and money, and you’ve always been a bit too busy to address them. Well, here’s the time you lacked, and internal processes are a great place to start.


Two suggestions to get you started: 

One: Have your team collaboratively create the internal and external processes, get them scored by the team, and start fixing them from the lowest ranking one up. It’s not a complicated procedure, but is a lengthy one, so the sooner you get started, the better. A great resource to aid you in this exercise is the principle of the book “The Goal” by Eliyahu M. Goldratt.

Two: ask every contributing member of the team to come up with 3 ideas for improving the business; one logical and straightforward, one interesting but challenging, and one bold and crazy. Get into teams - based on who likes what ideas - and start executing. Nothing like some quiet time to get creative!

Number three: Redo expenses and look at saving costs. 

When was the last time you did a comprehensive expense overview? Your profitability will come from revenue generated minus cost of running the company…and revenue generation is quieter right now. Take this time to sit with your accounts and go over every line item, consolidate your purchasing, get vendors to give you fixed prices and rates - and start saving some money.

Number four: Improve team collaboration and communication

In an office setting, everyone is everywhere, ‘meetings’ are always happening, and there’s a buzz going. Working alone may give you some quiet time, but it also reduces collaborative work. 


Use this time to experiment with social tools that maximise productivity, while minimising disruption (Watsapp Web may allow instant messaging, but won’t stop all those blasted Corona forwards). Tools like Slack, Quip or Google Docs are brilliant for working on stuff together, while others like Trello and Monday.com are invaluable when it comes to ensuring project milestones are being adhered to.

Number five: Keep up learning and reading. 

It’s easy to get into a routine that includes unhealthy amounts of Netflix and YouTube. Make sure you’re also taking care of your most important asset: your mind. That pile of books you’ve been promising yourself you’ll read, that new language you wanted to learn, that hobby you said you’d take up - now’s the time. Keep up the mental activity, and the physical becomes easier. Let the brain start getting bored and rusty, and your work will suffer.


And if you need something to spur along that mental activity - or want some support on implementing any of the above - join us for the webinar we have coming up on Thursday, 26th March. You’ll get three hours of learning and planning, alongside some of the top entrepreneurs and SME owners in the country. It’s on a first-come basis, so you’ll need to book your place quick.