(for those businesses able to continue trading).
Every business should have a long term strategic business plan, together with short term tactical plans to help achieve its strategy. Under current extreme stress periods these tactical plans will need to be re-written so as to adapt and to keep your business on-track. Some areas of particular focus should include:
- Minimising the potential health risk to all employees, customers and service providers (these are obvious should I include)
- Operate within Government guidelines (this is obvious should I include)
- Implementing business continuity plans, or if not in place establishing a set of realistic tactical objectives
- Cash is king in such periods so managing cashflow, reducing outgoings, utilising credit/loan facilities, taking advantage of payment holidays as well as Government support – all are essential
- Clear, open, regular and transparent communication with all stakeholders provides re-assurance and on-going viability
- Work smart to work around the challenges – this includes remote working and adapting the manufacture, logistics, distribution and delivery of your product or service, wherever possible
- Ensuring all assets are secure, and full compliance of all business requirements are retained as far as possible
And in moments of down-time be productive, undertake more training, review markets and competitors and start planning for when we are over this pandemic.
If you would like any help or an informal conversation, please get in touch – martin.pattinson@focusfive.org