“COVID-19 is quite literally the equivalent to an asteroid hitting the earth; we have to adapt completely…”
AUTHOR: Michael Brennan
Over the past week, the calls from small business owners in distress have progressed from a trickle to a small tsunami.
COVID-19 is quite literally the equivalent to an asteroid hitting the earth- we have to adapt completely to a new social environment, a new business environment and in many instances, a new way of life altogether.
While we are in the early stages of a period of unprecedented challenge, it is important businesses remain calm and strategic in their approach.
Acting swiftly is critical, absolutely. But doing it with purpose and a sense of clarity is just as vital.
We are faced with a crisis that needs a seismic shift in the way we think and act. For businesses to survive this, owners need to throw out the book called “business as usual”.
In its place, we’re advising they adopt a new Bible- a Strategic Business Survival Plan.
To survive this crisis, businesses need to navigate three critical stages:
- ISSUE TRIAGE – What are the most urgent issues that need to be dealt with to keep your doors open over the next four weeks?
- MEDIUM TERM PLANNING AND IMPLEMENTATION – What does your business need to do to get through the next six months?
- FUTURE PROOFING – Where does your business need to be post-crisis to remain viable?
Agility in business has never been more important than it is today.
The first questions every business owner needs to ask themselves is- is there enough cash to pay wages and suppliers? How do we access the relief packages being rolled out? And even more importantly, how do we survive until that money hits the system?
These are the first questions every business owner needs to ask themselves.
A Strategic Business Survival Plan will help get through the crisis, giving businesses the best possible chance of survival and thriving in the new “normal”, whatever that turns out to be.