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COVID-19: 10 Ways to Prepare Your Business

It is no longer strange news that gathering in large numbers has been banned in some places in a bid to reduce the spread of COVID-19. As a result of these restrictions, many concerns have surfaced as to how the wedding and event industry will be affected due to the rising fears over covid-19.

Amidst all the uncertainties, we are here to give you 10 ways you can keep your business running and not sink in these trying times. Let's get started.

1. Try not to Panic

Panic doesn't get you anywhere. Quit panicking and get educated on the happenings from reliable sources. In order for you to be able to take control of the situation and answer questions thrown at you by your clients, you need to have a good understanding of the present happenings. The World Health Organization (WHO) and the Centers for Disease Control (CDC) are reputable sources.

2. Make use of your Network

Having people you can always rely on is a vital lifeline, especially during a crisis. Knowing that there are people who have your back is a huge gain. Therefore, make use of this important fact and get help from your fellow professionals in the field. Confused about where to find them or how to find them? Facebook, WIPA, or even ILEA are readily available sources. You just say hi or drop them an email.

There are also different platforms when professionals in a field come together and discuss ways and ideas to help each other pass through difficult situations in business. You can find them out through a simple internet search.

3. Make Adjustments on Your Timeline

Update your normal ordering timelines according to current developments. This will enable you to advise your clients. Remember, it is to your advantage to play safe even though there are no delays to some products.

Normally, it takes international dress designers 12–16 weeks to manufacture wedding dress but now, those timelines have grown to 16–25 weeks. Though this will not affect couples now, it will affect those who are shopping for Spring or Fall.

4. Ensure Your Contract Is Intact

Create time to get an attorney who will go through your contract and update it with current developments, which include cancellations and even majeure language. This attorney must have a specialty in contract law. You can discuss any issues that may arise or options available to handle such issues.

Sometimes your clients can request to have their event rescheduled. In this case, you can consider taking the reschedule or allowing a transfer of date, even though it is not in your contract to do so. But you will not give any additional charges or restrictions.

5. Know Your Financial Situation

There is no doubt, there are going to be wedding cancellations and reschedules within this period. You should be able to effect quick cancellations and have a clear deposit policy that sufficiently answers clients' questions.

It is also very important to have an emergency fund available for you to rely on when the need arises because your expected cash flow will dwindle.

We are in times when one needs to be smart with expenditures and cut down excess expenses that are not needed. BUT, do not cancel your marketing budget. Everyone needs to know that you are strong, positive for the future and a beacon of stability. That's what will get you the bookings moving forward.

6. Stay Positive and Be Patient