Six Immediate Actions the Coronavirus Should Inspire in Caribbean Based Travel and Tourism Businesses
Caribbean Travel and Tourism Business Owners should do these six (6) things to mitigate against the impact of the Coronavirus.
As I write this, there have been over 93,000 confirmed cases of Coronavirus in the world, according to the World Health Organization. There are less than five confirmed cases in the Caribbean. A small number but, it is enough to result in significant impacts on the bottom lines of Caribbean businesses which depend on revenue from travelers. Therefore, now is the time for Caribbean based travel industry operators to act, to mitigate against the potential negative economic impacts of the Coronavirus.
If you are a business operator whom this pertains to, here are six (6) immediate actions to take:
1. Pay attention to the latest news and updates. This activity will not only keep you current and informed, it will also give you the information you need to make critical and timely business decisions.
2. Recall and learn from past experiences. If you have been in business long enough, you would have experienced past incidents which posed similar threats, be they illnesses or natural disasters. How did you deal with them? What did you learn? Can any of those lessons help you now?
3. Plan. This action is critical if your business is to operate successfully during the time of impact and then thrive after. Make plans for your operations and finances as these influence each other and your business’ overall success. Remember, the goal should be to survive this then flourish quickly thereafter.
4. Pay attention to how your business is being affected. I suggest that you collect data and analyze it periodically by comparing it over an appropriate period of time during the virus impacted period. This way you will know when and if the struggle begins, and when your business begins to recover.
5. Communicate with stakeholders. Stakeholders are anyone with an interest or concern about your business, be they customers, employees, owners, or investors. All of them should get appropriate intermittent communications from you about your operations. Make your communications honest and tailor-made for each group.
6. Have a public relations plan. Those of us who provide services in public relations will encourage businesses to prepare by staying ahead of the situation and being proactive. It is important to have a public relations plan updated for the Coronavirus, that way you can act as necessary to maintain a good image.
The Coronavirus is new and unpredictable, and that is good reason to act so that you are as prepared as possible to succeed despite it.
Please contact me if you would like to discuss any of these actions further.
