Key Advice To Small Business Owners During These Challenging Times By Christopher Achkar

Small Business Canada

Christopher is the founder and principal of Achkar Law. He has represented clients at multiple levels of court, including tribunals such as the Human Rights Tribunal of Ontario, the Canadian Human Rights Commission, the Ontario Labour Relations Board, and the Workplace Safety and Insurance Board. 

Christopher also practises in corporate and commercial litigation and disputes, including shareholder agreements, contract disputes, construction law, liens, incorporations, compliance, and other business law issues.

He worked and continues to work with top Toronto law firms and legal professionals, and has experience working at the Federal Court of Appeal.

Christopher serves on various boards, including CCAS and Spelling Bee Canada.

What is your key advice to small business owners during these challenging times? And what steps should they take to keep their small business afloat during the current crisis?

It is not an apocalypse out there, but it is not that different. Business owners and people everywhere are hiding their resources and repurposing them in order to weather the storm.

Leading and innovating is more important now than ever. Some businesses call it pivoting – others call it just being entrepreneurial and flexible. It is extremely important to use the resources that you have, including the talents of your team, to survive and thrive as a business. 

You are called now more than ever to lead – starting with managing your employees’ mental health, engagement, and job satisfaction, to making ends meet and grow as a company. 

From fallen profits to increased costs, business owners are having a hard time staying afloat now more than ever.

To assist with adapting to the current environment, business owners should adopt flexibility as a mode of operation and adapt. They should explore business partnerships, as well as new techniques to manage their workforce.

Employment agreements should always allow for the business to make changes as required, and when necessary, since we now know how uncertain the future can really be. Remaining flexible to changes and the possibility of needing to adapt overnight allows business owners to get back to the creativity of bringing resources from lowel levels of production to high levels of output. 

The drawing board is exciting for us business owners because we get to reimagine and do things better. Rethinking services and products in a different way, as to get their company back on track, is the sure way to sell your clients on your longevity, as a partner as a service or product provider.

How can a business stay afloat during this difficult time? Take a step back and reanalyze the current position of the organization. Who are your talents? Who is flexible? Who is good? Companies should be analyzing where products and services can be repackaged to accommodate for accessibility – financial constraints are changing, so businesses have to think of ways to market their products and services successfully. 

Businesses need to be providing faster, better, and cheaper services. By forgetting the old limitations on business and being creative, companies get to reimagine, refocus, and ameliorate their products and services to acclimate to the new norm – whatever that is. 

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