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Business Not Quite As Usual: Running Your Real Estate Business During A Global Pandemic

Business Not Quite As Usual: Running Your Real Estate Business During A Global Pandemic
21 April 2020 Stafflink

Business Not Quite As Usual: Running Your Real Estate Business During A Global Pandemic

The coronavirus outbreak has reached new heights, with countries taking drastic steps to contain the virus. Most of the world has responded with quarantine lockdowns, the promotion and strict implementation of social distancing and isolation, and temporary business shutdowns. For many businesses, the impact is devastating.

In this strange new isolated world, more and more businesses are suffering. But what if you can soften the blow?

What is a business continuity plan and why does it matter?

A business continuity plan is a company’s way of adapting and responding to unprecedented events. It is a comprehensive guide to carry on the operations of your business.

Developing a business continuity plan is the key to thriving in situations such as the current COVID-19 pandemic.

The plan you need depends on the scale of your business, but it typically includes the following:

  • Objective(s) – These are things your organisation plans to achieve. The end result of your business continuity plan.
  • Responsibility Assignment Matrix – This where you delegate responsibilities to your key staff. This is where you appoint your rescue team to lead the rest of your employees.
  • Strategy and Process – This is where you identify and strategise actions to accomplish your objectives.
  • Data & Software – This is where you tick off hardware and software that will enable you to continue your operations.
  • Infrastructure – This is where you propose to establish new remote work arrangements to continue your operations.

Form your team

The first thing you need to establish is who will lead your workforce.

Your “rescue” team will consist of your most trusted employees, those who will be at the forefront in times of crisis. This is crucial in the process as you need to devise plans and strategies which will require some extra hands to implement.

But when a business is facing an existential crisis, the rescue team should be able to execute the plan and strategies. Time and money should be treated as a limited resource, so unless a task is vital, it should be done at a later time. Creativity is fine during normal circumstances, but when a business is fighting for its life, it’s best to stick to a plan as accurately as possible. The rescue team is responsible for this.

The rescue team is also here to help the business manage employee and client relationships and expectations. Knowing you have a team to rely on during times of crisis will be key to making your business continuity plan a successful one.

Workflow in the cloud

During any other circumstance, work management software is seen as a great tool for improving efficiency but not vital in any sense of the word. In fact, many businesses get by with just email and calendar reminders. But during a crisis, it all becomes very different. Suddenly every move you make has to be calculated, lest you spend more money than you intended. Suddenly you need a tool like Airtable.

Work management software like Airtable has made workflow processing easier and more transparent. So whether your staff is in the office or working from home, it would be incredibly easy for you to track their tasks and whereabouts.

What makes Airtable different?

Airtable is a user-friendly collaboration software designed to keep your business organised.

Features and Benefits:

  • Fully-customisable and flexible spreadsheet – There are a myriad of ways to view your database. It can be reorganised and customised to your preference.
  • Simple and easy to use – The software is intuitive and can easily be picked up on. You can even broaden your knowledge with Airtable’s extensive collection of video tutorials.
  • Tracking progress – With Airtable, you can easily track tasks, who it’s assigned to, and how it’s progressing.
  • External integration – You can fully-integrate work-related apps like Slack to achieve seamless work collaboration. It’s constantly updating to merge with more apps.
  • Collaborative space – Airtable is an excellent software for a collaborative workforce. Teams will have no problem acclimating to this software as it already has familiar features and functions available in other software.
  • Visually appealing and unique UI – One of Airtable’s best features is its stunning user interface. Most project management software looks dull and intimidating. Airtable’s unique look is refreshing and motivational in a way.

For a deeper look at why airtable is good for your real estate business, click here. Or if you wish to learn the basics, try out our Free Airtable Course on the STAFFLINK Learning Platform.

Consistent team huddles + Reprioritisation of tasks

Teamwork makes the dream work. Question is whose dream gets worked on?

It’s important that you talk about the plans of the business so that everyone is working towards the same goal.

So make it a habit to communicate with staff, even just to catch up on things. Be open, transparent, and present. This also means always being present in their time of need.

It’s a great exercise for you to get to know your staff a little better and what they are capable of.

Yes, the world is currently having a bit of a rough patch but that doesn’t mean your business and your staff has to suffer for it. By keeping your business running, you are able to salvage the livelihood of all your employees which they need now more than ever. And the only way to make it through this COVID-19 pandemic is to have a plan for your business to stay right on course.

An age for digital office

These are times where outsourcing flourishes. Many businesses in Australia that utilise outsourcing services have enabled them to carry on their work with only having to deal with minor obstructions. But outsourcing isn’t the only solution.

Having a remote staff can be advantageous in times of a pandemic as there’s no need to uproot your entire office to continue operations. All you really need is a computer and a stable internet connection at home. In fact, it is not uncommon for businesses to administer a “Work From Home” policy during the COVID-19 pandemic.

The employees are safe in their homes, business is still in operation, the only difference now is the view.

Stafflink has created a system to establish a strong offshoring experience for people who are looking to build remote teams. If you want to know about our contingency plans and processes, click here.

Click here to know how you can make the switch to outsourcing or how you can make Work From Home (WFH) Work.