Reassess – what situation is your business in now, compared to how it was before the significant challenge arrived?
Make a list of the main challenges and try to quantify the impact of these over the next 2 to 3 months (short term).
What are the most significant threats?
Refocus – what options are available to your business?
A crisis management team can list out different financial options (loans, investors etc).
Given any immediate limitations to your “Business As Usual”, investigate if there are any new opportunities that you could work towards that could mitigate any losses caused by the BAU limitations.
How could you potentially grow? What might your customers need / value, now more than they previously did, in order to better serve their customers?
Restructure – how do you need to organise your staff and resources to maximise opportunities to survive and thrive.
Redeploy – issue an updated business plan that help focus on what must be done in the next week or two, what should be completed in the short term, what could be done in addition to the “must and should” and, as importantly, what you won’t want to be doing.
Reconnect – with existing clients to update them and gain insights into their revised requirements given the new situation. Let them know what changes you have implemented and what additional / different services you can now offer to support them and their clients. Work with your suppliers and create clear communication strategies and updated marketing.
It is critical to move from disaster recovery to business normalisation and even to look for growth.
The world is now working in a new paradigm – where being flexible, adaptable, resilient and entrepreneurial are key ingredients.
We are offering a free initial 30 minute online consultation to support your business during this challenging time, to move from surviving to thriving. Please get in touch for a more in-depth discussion and investigate how our ecosystem of specialists can help.
Together we can do and be so much more!
Stay healthy and stay connected.
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