Thoughts on Reopening The Economy

Darin Rutledge, Executive Director
Klamath Falls Downtown Association

Governor Brown and President Trump both recently released initial frameworks for reopening Oregon's and America's economy (you can click on the images below to see the details of what was released). The plans at both levels are still being fleshed out, but here's what we know so far, at least for the Oregon framework:

• Medical evidence will guide the timeline. Each "gate" will include certifications from medical experts, and/or metrics related to epidemiological data.
• The framework for Oregon will be gated, meaning that some restrictions will be eased followed by a period of monitoring. Then additional restrictions will be eased, followed by monitoring. This gradual cycle will assure that a spike in cases, for example, doesn't stress our healthcare system, and that we are able to proactively take steps (such as moving back to the last gate) should it be necessary.
• There are several working groups, task forces, etc. working with the Governor's staff to set the groundwork for specific business types (yes, business representatives from our region are participating in those discussions). Further, the Governor's office has demonstrated thus far that local leaders will have a voice in the process.
• For Oregon, the timeline may be different county-by-county (the basic framework will remain, but localized metrics will be used).
• It won't be back to "business as usual" right off the bat. Reopening will take place gradually, and likely be by industry sector.
• Masks, physical distancing, etc., will still be a part of our daily lives even after we begin reopening the economy.

Governor Brown's Framework for Reopening Oregon

President Trump's Framework for Opening America

UPDATE 4/29: We found a very cool resource for some strategies and ideas you should think about while considering how to reopen your business. Check out the information below, then visit Reopen Main Street for some other great ideas!

With the framework in place and conversations ongoing, it is likely within the next few weeks we'll see tangible activity toward reopening the economy. With that said, we want to make sure you are starting to think about your plans for reopening. Specifically, here are some areas you should be thinking about.

• What's your "reopen date"? You're right, that's impossible to predict right now. But bear with us for a moment. Based on what you know now, pick a date when you believe that your business may be able to reopen (or, a date you are HOPEFUL your business can reopen - just be realistic). Call this date your "reopen date". This is just a planning date for now; it will likely change in the coming weeks as more information becomes available and statewide plans become more detailed. It's a target though - it will be important for the rest of these steps.

 

• Get management tools in place. Make sure your financials and other important decisionmaking tools for your business are in order and up to date. Even for seasoned businesses, the rest of 2020 is will not look like what you normally expect even after you reopen. The only way to be prepared to make appropriate adjustments is to constantly monitor your finances and other variables in your business. More importantly, this information will inform your financial and time risk tolerances, which will be important for some of the following step. (Make sure any new loans, contracts, federal programs, vendor changes, etc. are accounted for).

 

• Plan. Evaluate all the things you will need to do to reopen (restock inventory, restart utilities, advertise, rehire/train staff, put together a COVID-19 management plan, etc.). Map these timelines and then apply them to a calendar starting from your "reopen date" and going backward. You might find that it's time to start on some of those things now! If nothing else, you'll know when you need to start on these tasks be ready for your reopen date. Also, do you have flexibility? If your plan says to restock inventory now and your planned reopen date is actually two weeks later than you projected, how will that impact your business? Conversely, what if you wait to restock until it's too late? What is the lost opportunity cost?

 

• Rehearse. What does the first week of "reopening" look like for your business? Remember, the guidelines - at least early on - will likely limit your capacity during a time when you're likely to get overrun with Customers. How will you manage that both in terms of public health, and making sure you are able to serve as many of those Customers as possible?

 

• Get the word out. With thousands of local residents just itching to get out of their house and anxious to support our small businesses, how are you making sure they will stop at your business on day one? Here's a quick checklist:
  • Make sure your digital channels are up to date. Facebook and other social media platforms have experienced unprecedented usage and engagement since the pandemic started. Customers should be able to quickly and easily find your current hours of operation and any modifications currently in place, and should be hearing about your plans for reopening now. What have you been doing during the disruption to make your business even more exciting for your Customers?
  • You may have either consciously cut your marketing budget or simply stopped or held off on some marketing projects thinking it wouldn't be effective. Now's the time to make sure your business is top of mind as people start putting together their itinerary of post-COVID outings. For a professional perspective on why this is important, here's some information from Scott Allen, General Sales Manager for Basin Mediactive (which includes KFDA Champion member KLAD-FM)

 

• What can you do right now? We know that many of you have been plenty busy since this started. But now that you've had a chance to get your feet under you, are there some things you could be doing to put your business in the best possible shape to hit your reopen date in stride? Here are some ideas:
  • Do you have the resources to do that renovation project you've been putting off because it would have required you to close your business?
  • Could you or your staff benefit from building skills related to the products/services you sell, customer service, or the technical products that your business uses?
  • One thing that would be easy to overlook: Many of our locally-owned small businesses trade products and services with each other. Recognize that all of them (and even your out-of-town vendors or suppliers) will be going through this process for their own business, and contact them early to determine how that might impact your plans. Will they be able to meet your inventory needs if everyone else starts restocking their inventory at the same time? Will you be at the top or bottom of the list to get that HVAC tech out to look at your air conditioner?
  • Shore up other areas of your business. For some, this has been a reminder of why they instilled a certain level of discipline in their business. And for others, they were caught off guard and frankly, learned some lessons the hard way. There is exactly zero value in the "I told you so" game, and shame on anyone who is making you feel that way about your business. But there is significant value in assessing the blind spots that this disruption has uncovered in your business and using that information to grow as a business owner. Use this opportunity to document and implement new policies, hire a bookkeeper, restructure contracts, etc. If you're not sure where to start or would like some help, there are plenty of resources locally. Start with KlamathIDEA.org, or register with the Klamath Community Small Business Development Center for free, professional, confidential business advice.

We are continuously scanning fo resources additional resources that would be helpful to our small businesses as they consider reopening. For example, restaurants and bars should visit this Relaunch Toolkit for Restaurants + Bars from Streetsense. We've added this link to our Business Resilience page, and will provide access to additional resources when they become available. ​