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Many small business websites have continued to highlight the importance of moving business functions away from the office.  The reason for this is that the virus restrictions have made traditional operations and practices all but impossible.  Some small businesses are embracing remote workers for the first time, but is that a wise decision?  Can employees really maintain or exceed their level of productivity at home or are they going to be less efficient as professionals have predicted?

 

The notion of employing remote workers induces fear in some business owners as they believe that a home setting discourages professionalism.  You see this in online meetings that are often conducted in pajamas rather than business attire while children play in the background.  However, these observations suggest that remote workers take a casual approach to their duties and others argue that working at home is better for productivity.

Remote workers are more likely to work longer hours since they don’t have to worry about maintaining a schedule.  Therefore, they are able to commit more time to handling work-related tasks as they have plenty of opportunities to manage their personal needs.

 

The idea that a home setting boosts productivity rather than delays it has been proven by research.  Not only do remote workers lose ten minutes less per day than office workers but they spend 17% less of their time on avoiding work.  A few small business websites admit that remote workers have to contend with more distractions.  But once they adjust to working from home, their efficiency is far better.

Another aspect to keep in mind is that there’s no longer a commute to work so all of the time that was previously spent traveling can be applied towards finishing tasks at home.  As a result, the flexibility allows remote workers to juggle their personal and professional lives with greater efficiency!

The latest pandemic has accelerated the digital transformation in a way that many business owners never expected.  Particularly since businesses have to identify new ways of operating in response to the stay-at-home orders that were issued by the government, not to mention the limitations due to social distancing.

Even the concept of digital transformation has changed, shifting from a customer centered approach to tactics that are designed to safeguard the health and safety of workers.  This has made the prospect of adopting new forms of technology and methods far more difficult.  The following changes are just a few that some have noted.

 

If an Indianapolis website design firm was undecided about the notion of going through a digital transformation before the pandemic came, they have probably realized that they no longer have a choice.  Companies that could initially compete with their rivals without abandoning traditional techniques have discovered they can’t survive in a post-coronavirus world.  In some cases, digital transformation is no longer an option.  It has become crucial to most businesses that hope to compete favorably in the future.

 

For the longest time, digital transformation trends were meant to meet the needs of consumers.  Most strategies that were crafted and deployed by an Indianapolis website design firm revolved around a desire to enhance the customer experience.  Although the customer still matters, workers have become the bigger priority for now.  Many companies are working to develop a variety of methods that can meet the needs of consumers without risking the lives of employees.

 

The pandemic has revealed to small and large businesses that physical premises are not a requirement for success.  Stay-at-home orders made conventional operations all but impossible as many firms were forced to close.  However, business in various parts of the world is proceeding as companies have adopted technology that enable workers to continue working from home.  These latest trends are alarming but they are here to stay for now and any business that wants to survive the pandemic must evolve accordingly.

Some small business websites have dismissed debt as an inherently negative aspect of being in business.  They claim that it deprives small businesses and prevents them from achieving their full potential.  But this viewpoint is shortsighted as it fails to recognize that debt can expedite a company’s growth by lowering financial costs and allowing owners to benefit from tax incentives.  At a certain point though, debt could become an overwhelming burden so the following indicates what amount is too much.

 

Debt is only useful when it works in a positive way for a business owner and it becomes a threat once it starts working against a business.  Many small business websites tend to classify a company’s debt as a burden.  Especially when the debt begins to outpace revenue and the financial resources that are used to cover debt exceed the amount being invested back into the business.

Situations like this typically materialize as a result of external factors beyond the control of a business owner, such as clients that keep paying late or a drastic drop in revenue.  If it goes unchecked, a small business that is deeply burdened with debt will likely collapse.

 

Companies that are struggling under the stress of excessive debt need to analyze their situation immediately.  That means using a program that takes into account your total debt, identifying the debts associated with the most serious consequences, and then create a strategy that prioritizes a resolution.

There are different types of debt and some of it is far more damaging than others.  For instance, if you don’t pay your employees, they would probably quit and your operations might come to a halt.  As such, you are better off prioritizing your payroll since it allows the business to continue.

You can always renegotiate the terms of banks loans to secure a more lenient payment plan.  Alternative payment plans should be considered with creditors to give your business the breathing room it needs to manage debt efficiently.  If a business struggles for many months with their financial management efforts, it could ruin their credit rating and deplete their savings.