Submitted
Editor’s note: The following was written by Peachin Schwartz & Weingardt (PSW). They are CPAs and advisors who deliver accounting, tax planning, consulting and assurance solutions. You can learn more about PSW at psw-cpa.com.
Under our current environment, the COVID-19 pandemic has provided many challenges for small business owners and workers. We spend a tremendous amount of our time working with the closely held business on strategies to help them take these challenges and look at the opportunities to improve and enhance their company and team.
For us, it’s more than just taxes. As a CPA firm, we help our clients identify, define and focus on their goals beyond taxes. We also consult and serve clients through accounting services, tax planning, estate planning, and retirement planning. Just saying those words out loud can be overwhelming. But it’s also crucial to think about how you are positioning yourself in trying times.
What’s your office environment like? From a small business perspective, your office environment needs to be clean, sanitized and meet the requirements for the proper work distancing. We have found that the more comfortable you make your work environment for your team, the better they perform.
This is a great time to focus on increasing your online presence for your company. Take a look at your website and make sure your content provides the information your customers and potential customers are looking for. Does it make sense to have an online payment option? Yes, it is always about cash flow! Look at ways to grow your social media presence to stay engaged and build your brand.
Another item to consider is flexible work schedules and remote working. Making sure customers will still receive the same level of attention and ultimate satisfaction in your company’s product and service delivery is critical. Many of our clients are having more and more of their team working remotely. Our clients are evaluating their office space needs. Do you really need the space under your current lease?
The single most important aspect of dealing with these challenges and opportunities is to keep an open line of communication with your team and your customers. Reach out to your customers and let them know that you have the people and products to meet their needs. Check in with your team and let them know you are supporting and encouraging them in their work and how your company is navigating through these challenges.
We firmly believe that the small business owner will find a way to succeed. The successful small business owners will turn challenges into opportunities and ultimately into profits for their business. We are one of those businesses and look forward to helping.