Since we started Home Care 101 I've had the privilege of talking to hundreds of brand new Canadian Home Care entrepreneurs.
I've answered lots of questions but no one has EVER asked how to manage their home care business during a global pandemic because...
None of us were expecting this! (obviously)
And to be honest, even if someone had asked me, I would have told them that I had no idea what to do, because I've never been through a global pandemic before so I would be figuring it out just the same way they are.
But now that we're a few weeks into the pandemic I wanted to share what I've learned with our great HC101 community
So here are 5 quick guidelines to help you manage and grow your small Canadian home care business during COVID-19:
#1 - Change your marketing to fit what people are looking for
People are looking more and more for services that used to be 'fringe' services. Things like grocery shopping, moving services, and help with errands.
So you should move with the times!
As a small business owner you need to be agile!
Adjust your ad campaigns and your online marketing to mention those services specifically. By matching what you're offering to what people are looking for your phone will keep ringing (and you will keep growing) while other companies are left out.
#2 - Change your operations to minimize risk to your clients
First and foremost you need to work to shrink your care teams down as small as possible.
That means if you're providing weekly care with 3 people, can you get it down to 2? Reducing the size of care teams significantly reduces the risk of transmission with your clients and your staff, so do it proactively!
In addition you need to educate yourself about your provinces rules about community care, facility care and traveling between them. Those rules are key to protecting people and you need to make sure you are abiding by them
#3 - See opportunity where others see crisis
There's no doubt that COVID-19 is a significant crisis affecting almost everyone around the world.
But I believe that positivity in the face of adversity is a receipt for success!
So remember that this crisis is making people stay home and your company is designed to help them do that!
If you can just connect yourself to all those new people who are looking for services like the ones you are offering then this time could be a great opportunity for your business!
#4 - Watch your cash balance very closely
Depending on where you are in growing your business #4 will apply differently to you.
But whether this means delaying payments as much as you're able to or stretching every dollar that comes in you need to make sure your business has enough cash to weather the storm.
Which brings us to #5...
#5 - Make sure you are aware of the help the Government of Canada is offering and use it!
If you business has payroll of less than 1.5M then you are eligible for the 40K small business loan (of which 10K is forgiveable) and if you are bigger then the BDC is offering extremely low interest rates on larger loans.
You may also be eligible for one of the two wage subsidies the government in Canada is offering.
There are lots of supports out there right now for small business so make sure you use them!
It is a very challenging time right now for everyone but as a small business owner, you are used to adversity!
Stay positive! Move with the times! Protect your staff and your clients! And we will all be ok!
In good health,
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Did you like this article? Check out some more great content!
- Tips on how to start a Successful Canadian Home Care Business
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- The Key Ingredient for a Successful Home Care Business
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- The Financials of a Successful Home Care Business