Ross Birkall, a special counsel at L4SB, has spent the majority of 2020 in self-quarantine. He has some specific insights into how the challenges of 2020-2021 could do better.
With 2020 over and 2021 looming, most of us share a certain level of anxiety. We taught 2020 to expect the unexpected and unfortunately, many companies were not prepared for this. I find myself recommending clients to consider a few points. Some of them may seem basic or perhaps trivial, but I must emphasize that they are very important and have a serious impact on you and how you do business in the future.
First, where would you and your employees work in the next year? Still planning to walk around the house during at least the first part of 2021? Maybe it’s time to reassess your office lease? Is your current space lease contract expiring? You might want to consider whether you need the same type of space? If you want or want to get bigger, this could be a great year to do so. The savings either way can be significant. See reviews of the L4SB Fixed Price Contract
Second, will the professionals meet in person with their clients again anytime soon? It does not look promising. At least for the next 6 months. Now that working from home and on personal devices is the norm, are you confident that all of your employees’ equipment and locations are safe? Is everyone’s anti-piracy and virus software updated? If you haven’t invested in IT in 2020, and you can do so now, what are you waiting for? Even after the pandemic, it seems clear that things will not be exactly what they were before. Be prepared to keep moving in the hypothetical direction or be prepared to let loose. See our blog about phishing and email attacks
Third, do employee handbooks and policy guides need to be re-evaluated and updated? Especially when you think about drastic change in work environments? Much of the workforce now works from home. How can you hold employees accountable and manage them successfully if there is no clear indication of what everyone should be doing and when? See Review of L4SB Policy and Procedures
Fourth, you still need to update your business entity and in compliance with it for 2021. Is it necessary to draft an approval in place of the 2021 shareholders and directors meeting to refer to the new management members or the same company members or officials? Have you submitted all of your annual reports? You still have to keep your home for so to speak, even if state offices are closed to the public. See the L4SB paperwork package And the L4SB Annual State Deposit Service
Fifth, have you finished financial collaboration and cut back on any unnecessary expenses? Remember that breaks can be a catalyst for a significant and beneficial change. If you need an excuse to change your ways when it comes to spending – here it is. Instead of blaming the pandemic for financial hardship, use it as an excuse to unleash a meaningful and fundamental change that will keep you in business long after the pandemic has passed.
Finally, now is the time to get all your Personal Affairs yet. Did you fulfill a will? Medical guidance? Business succession plan? Really, there is no excuse for not having these very important documents in order – especially given current events.
Consider downtime, slow work, and public health shutdowns as an opportunity to reassess your work and personal affairs. Tackle these items that were once easy to push aside. This way when 2021 begins, you can move forward with a certain degree of confidence. Get your business ready, in the best possible condition, to recover from the plague’s shackles tearing in 2020. Be prepared for a successful transition into the new year.
Help with any of the points Ross described is just a click away.
author: Christy Donahue
Christie is the Marketing Director (CMO) for Slingshot, the parent company of Law 4 Small Business (L4SB). She holds an MBA with a Psychology undergraduate. Christie was previously senior vice president of Albuquerque Bank and now leads the marketing efforts of six legal brands of the Slingshot Group of Companies.