Temporary lockdown: What to do if your business has been hit by coronavirus

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StrategyDriven Tactical Execution and Managing Your Business Article |Coronavirus Lockdown|Temporary lockdown: What to do if your business has been hit by coronavirusAs we all know, the world is coming to something of a halt courtesy of the recent coronavirus outbreak.
To say that it is unprecedented would be an understatement of the highest regard. Many countries have insisted that businesses have to be shut down and for the economy as a whole, this has monumental repercussions.

For self-employed individuals, this is a scary time. It’s going to be difficult, and for the time being at least not many people are going to hold many answers. Sure, the government might be pledging various support packages, but it remains to be seen what sort of difference this will make.

Bearing this in mind, today’s article takes a look at three areas which you should be considering if your business is bracing itself for a lockdown (or has already). Again, it might be of little consolation for the time being, but by keeping an eye on these areas it might do your chances of prevailing out of the other side of coronavirus the world of good.

Consider your storage options

Like it or not, this might be a time where you have to close your main premises. Some companies will decide to do this to cut costs, while others might decide that they just aren’t getting the footfall to merit staying open.

However, if you sell tangible products, you still need somewhere to store items. This is where you need to research storage units, or alternative smaller office space, as your business gets through this period. Both of these solutions can save you money in the short-term.

Be as flexible as you can with your employees

As we keep being told, this is going to be an almightily tough time for everyone in the world. Jobs will be lost, and some people really will be struggling to financially survive.

This is where you need to offer as much flex to your employees as possible. Granted, you can’t put the future of your business at risk and there will be times where tough decisions have to be made, but whenever possible try and add a degree of flexibility with your workers. It might be offering them the chance to take unpaid leave now, or even take their annual leave. Some people will realize the difficult positions that businesses are currently in and will accept these decisions, if they at least know in the back of their mind that they will have a job waiting for them when this crisis is over.

Communicate to customers whenever possible

We’ve entered an era into the unknown; nobody has ever experienced this before and it means a lot of issues are up in the air.

This is the time where communication is key. We’ve gone past the stage where we can stay quiet and hope for the best, customers will want updates as to where your business stands on the virus. This will largely depend on the nature of the industry you are involved in. For some, it might be the occasional email about stock levels, while for others it might be reassurance about the steps you are taking to minimize the risk of the virus spreading. Either way, communication is key during this period – people still need to know that your business is operating.

Is Your Business Ready to Hire a Small Batch Co-Packer?

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StrategyDriven Managing Your Business Article |small batch co-packer |Is Your Business Ready to Hire a Small Batch Co-Packer?Your food products may be gaining traction in the marketplace. Now is the perfect time to scale, but you have to find out the best way to do that.

It can be difficult to know if your business is ready to hire a small batch co-packer or not. What does a food co-packer do and how do you know if it’s time to hire one?

Keep reading to find out.

What Does a Food Co-Packer Do?

A food co-packer is also called a food contract packer. They are an existing food manufacturing plant that you contract with to produce your food product.

Many small consumer packaged goods companies will use food co-packers as a way to outsource food production.
This can be a game-changer for small businesses because it allows them to focus on the operational side of the business, and marketing and sales.

The fees for a food co-packer will depend on a number of variables. The size of the order, the ingredients involved, the co-packer’s labor and production costs are the main variables.

When you work with a small batch co-packer, you will have several advantages. You’ll be able to maintain high standards of quality. You’ll also have lower minimum order standards to meet.

This can be a great step if you want to move your business out of your small kitchen and you’re not at the point where you need to place a huge amount of orders.

How to Know if You Need a Food Co-Packer

A food co-packer can be a great asset to have if you are ready to scale up your business. How can you be sure that this is the right time to create a partnership with a food co-packer?

Here are some signs that you’re ready to take the next step in growing your food business.

You’re at Capacity

Have you taken your own manufacturing capabilities to the brink? You’ll find that you can only support a limited number of sales.

If you’re at the point where you have more demand for your products than you can handle, then it’s time to find a small batch co-packer.

You Can Scale Your Recipe

You may have initially developed your recipe in a tiny kitchen. You were able to scale it to satisfy more customers and still retain the quality of the final product.

Consumers are demanding healthy food. If your product falls in this category, you need to make sure that your recipe can handle large production runs with healthy, natural ingredients.

When you created your recipe, you may have used approximate measurements and still had great results. It’s much different working with a food manufacturer.

You have to give the manufacturer precise measurements to ensure quality. You have to do the same with cooking times and temperatures. Your recipe should deliver the same exact result no matter who the manufacturer is and which employee is managing production.

Sales Demand

You may be at capacity right now. Do you expect your sales to grow over time? Are your sales seasonal? Co-packers require a minimum run to make manufacturing your product profitable for them.

You may be able to try a test run of 1,000 units with a small batch co-packer to see how fast you sell the product.
That’s only a viable option if your product has a long shelf-life. Keep in mind that you’ll need to absorb storage costs if your sales slow below your projections.

If your product has a short shelf-life, your sales projections have to be as precise as your recipe.

You Have Capital

For businesses that have a significant amount of cash set aside, you can afford to take a financial risk and hire a co-packer.

There are other costs involved in co-packing that can make it challenging. You may have to pay research and development costs to the manufacturer. They will improve the recipe and give it a longer shelf-life.

There may be additional costs if your co-packer supplies the ingredients. At the same time, you may be able to save money if they provide the ingredients because they get a better volume discount.

A food co-packer requires significant investment. You want to make sure that you understand the risks involved before you hire one and you have enough capital on hand.

How to Find a Co-Packer

Do you think that your business is ready to work with a small batch co-packer? You have to find the right food co-packer to work with.

You should start by researching co-packers in your area. Talk to other food producers in your area and ask them how they manufacture their products.

You need to make sure that you find a co-packer that’s the perfect size. A co-packer that’s too large will be difficult to maintain. You’ll outgrow one that’s too small.

You’ll start to understand how food co-packers work and what you need to look for in a co-packer agreement.
The most important thing to know is that you cannot rush the process. Expect to invest at least six months before making a final decision.

A Small Batch Co-Packer Helps Your Business Grow

As a food business, you have to walk a very thin line between having enough inventory and having enough sales to move inventory.

That makes growing a food business a challenge. If you grow your capacity too fast, you don’t have the sales to support it. Grow your sales to fast, you have customers waiting for your product.

Both options can cost money. The best way to grow is to use a small batch co-packer, which gives you more capacity, but not too much. You also maintain quality as you scale your recipe up.

Finding the right small batch co-packer is a big step. You have to know what questions to ask and understand how co-packers work.

Be sure to visit this site often for more business and leadership insights.

Greer Trucking

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StrategyDriven Trusted Service Partner | Greer TruckingGreer Trucking

Greer Trucking was started in 1960 by Jerry Greer, an Army veteran and long-time trucking industry mainstay. After working multiple roles across several trucking firms, Jerry took the entrepreneurial leap of faith and ventured out on his own to start his namesake company; and has never looked back.

Over the years, Jerry grew the organization from a sole proprietorship with one truck to a well-respected and reliable national industry service provider with multiple partners and employees.

Today Greer Trucking continues to serve our clients with the same determined spirit Jerry possessed when he started the firm. After over 50 years in business our mission remains unchanged. Our customers, many who have been with us for several decades, are the lifeblood of Greer Trucking and we will always strive to provide them the best air freight and logistics services in the industry.

If you are in the process of expanding your logistics or air freight operations or looking for a firm to service your needs, we would love the opportunity to earn your business. As we like to say to our customers- current and future, when you’re considering a company for your trucking and logistics needs, Go with Greer!

Contact Greer Trucking

Phone: 4047687300

Email: [email protected]

Website: www.greertrucking.com

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4 Ways Vehicles Drive Businesses That You Don’t Know

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StrategyDriven Managing Your Business Article | Entrepreneurship | Business Vehicles | 4 Ways Vehicles Drive Businesses That You Don't Know

Cars may be a standard part of life, but businesses don’t utilize them as much. Some do, and they are seen as influential, thriving companies that can afford to provide vehicles for their staff. You would love to do the same, yet don’t have the money or resources. At least, that’s what you assume.

Of course, the truth is that company cars raise brand awareness and generate leads without being overly expensive in terms of upfront costs. The majority of them are leased and paid in installments every month. And that’s one thing you didn’t know about vehicles and how they drive businesses.

In this post, you’ll find four more impacts that cars can have on your organization. However, be warned that they aren’t always healthy. Cars come with lots of positives, yet you’ve got to plan carefully for them to help the firm be successful.

Employee Perks

As far as employee perks are concerned, a vehicle is usually at the top of the list of benefits that workers desire. It’s not hard to see why when it eliminates the average costs that are included with owning a car outside of the office. The average sale price for a new engine in the US is around $35,000, and used cars aren’t much cheaper. Then, there is the rising costs of insurance and gas to consider, as well as repairs and maintenance fees.

Looking at from a financial point of view, it’s no wonder employees want a company car. The direct knock-on effect of this is that you’ll be able to attract a high standard of applicants when looking to recruit. Organizations that provide quality bonuses tend to secure fantastic candidates because modern workers require more from a job than a strong salary. Of course, though, it’s worth considering that you will also need to provide parking, maintenance, and even a traffic control company to keep things from getting out of control. These costs are often worth the benefits that come with your company cars.

Hidden Costs

What people don’t understand is the expense of opting for a company vehicle. In some ways, it can result in their wage being smaller at the end of each month. As soon as staff realize this, morale may drop, and that can affect output and productivity, too. There’s also employee turnover to consider.

A high rate of people leaving the business will cost you a fortune in the short, medium, and long-term. You must find a way to make employees who drive happier, and a utility vehicle is an option. They are believed to make drivers more content, limiting the high rates of turnover. Alternatively, you can be transparent about the fees from the outset. That way, you or the business isn’t to blame if the situation goes south.

21st Century Practices

The changes in the automotive industry are massive. Today, pretty much all the major manufacturers are creating hybrid or electric cars, and some are pushing the envelope further by removing drivers. Automated cars may be experiencing a few snags right now, but there’s no doubt the technology will be on the market in the future.

How does this help your business? By partnering with manufacturers such as these, you can piggyback off their innovation. Your brand is seen as creative and new-age as a result of implementing the technology into your business plan. The right vehicles are more than marketing tools with gaudy exteriors – they are signs of intent.

Also, these cars connect consumers with companies. Shoppers are more moralistic than ever, and it impacts buying decisions. Using an EV may be the symbol that proves you respect the planet, encouraging more people to adopt the brand.

Enhanced Customer Service

The importance of customer service will never cease. How customers expect to interact with business may evolve, but they will always judge you on your ability to deliver. Cars are the missing piece of this puzzle, especially vehicles that drive autonomously.

Similar to a drone, AV will be able to deliver products with fewer glitches in the future. However, unlike a drone, customers will be able to track it mid-journey to check up on their package. Plus, removing the human element means that delivery times will be shorter than usual. Then, there is the virtual assistant support that you can implement for holistic consumer experience.

Affordable self-driving cars are some way off the market, so it may be a while before they’re used in to drive businesses forward. Still, when the price drops and the tech is more stable, your customers will receive an enhanced service that will catapult you to the top of the market.

From helping customers to advertising the company to potential employees, cars have their pros and cons. Do you think one outweighs the other?

How to Keep Business Travel Costs Down

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StrategyDriven Managing Your Business Article |Business Travel Costs|How to Keep Business Travel Costs DownBusinesses are pinched, but managing your supply chain and business relationships through online video chat and emails is hard. It’s hard to keep people accountable, hard to clarify what you mean when you aren’t on-site, and harder still to come up with innovative solutions when you’re working through a screen.

Travelling to solve and fix these issues is essential, but not every company can currently afford it or find a flight to get them where they need to be. If you are grounded, there is not much that you can do, but to keep costs low for when the restrictions lift, you will want to follow this guide.

Sign Up for Flight Deals

There are two ways you can get a great deal on a flight. The first is to keep an ear out for special deals or sales. You’d be surprised at how many are occurring right now to help airlines manage their costs even though all their flights are grounded.

Take advantage of this to book very cheap flights months ahead, but don’t forget the cancellation policy. If the cancellation policy offered by the airline isn’t good enough, then your travel insurance should offer protection.

The second way is by comparing flights based on day and time. There are no set prices, so setting up alerts for price drops can help you get a great deal at any time of the year.

How to Save Going to and From Airports

If you live close enough to an airport that you can either take a shuttle or rent a taxi without it piercing holes in your wallet, then these are the better options. If your nearest airport is far away, then your best bet will be to drive there yourself. You will want to book long-stay parking in advance, especially in popular lots like Atlanta airport parking to secure yourself a good deal and a better spot.

Accommodation Options

If your business is truly struggling, then even hotels are going to seem out of your reach. Alternatives to hotels (even with the best deal you can find) include renting a private room from a local to seeing if your business partners have a place where you or your employee can stay.

You should also look for places out of the main area for more deals, but do remember to compare the travel costs to ensure overall you are spending the least amount of money.

Budget Food Options

The best part about renting either a room or a non-hotel option is that more often than not, you will be allowed to use an actual kitchen. Cooking will be hands-down the healthiest and cheapest way to eat while you are travelling. You can even bring with you familiar foods if you are travelling to an area where you are not used to the cuisine.

Saving on Public Transportation

The cheapest way to get around your destination will be with public transportation. Save with passes – some are designed for tourists, others are just passes for the day or week. Choose the best one for your budget and needs.

If you need to travel out of the city for work, however, then you will need to research your options. It might be cheaper to drive yourself, or there might be shuttle buses and other public transport choices that can help you save even further.