The Lockdown is here. It will be over eventually. What are you doing to plan?
It’s amazing how many business owners are sitting back and waiting for the lockdown to finish, presumably thinking that everything will return to the way it was before. We hope that isn’t you. Times are difficult for most (not all). If your business has a clear direction, you will be better placed to succeed after the crisis.
You should realise that the Coronavirus pandemic isn’t just affecting the UK. It is global. Every country in the world has businesses affected and, because their domestic market might be diminished, businesses will be looking further afield for potential customers for their product or service. You might get competition from places you didn’t expect.
We urge you to take the opportunity to think about your business now, while you have time. Some of the questions you could ask yourself are:
Is there anything we can do to make our product or service saleable now?
Ask us to help you look at your business critically and constructively to see if we can identify something now.
What will be required when the crisis is over?
There may be change in people’s perception and requirements when things start returning to normal. Will your product/service be something required, or should you be looking at changes now?
We don’t have a crystal ball but, because of the number of business owners we talk to, we often understand the bigger picture.
What are your competitors doing?
If one (or more) of your competitors has found a niche, can you get in on the act. Remember, Amazon were not the first online book seller, Ebay wasn’t the first online auction site. They took ideas and developed them. Make sure you know what other people in your industry are doing.
You may have to do this yourself, although we can put one of our staff on research duties to help you.
What will the longer term financial impact be?
Do you have enough cash, not only survive but, to grab a bigger share of the new reality? Maybe you realistically need additional investment. Are loans the answer or is an alliance (or merger) with another, complementary, business a way to strengthen both of your financial positions?
This is definitely an area where you need a critical friend. Our expertise and wide business knowledge will help you arrive at a financial impact summary and forecasts.
Can my business be more efficient?
We are coming across situations where businesses are realising how inefficient they have been. This takes many forms:
- Staff are happy working from home and want to continue to do so – so notice can be given on unnecessary office space resulting in a substantial future saving in rent and running costs.
- A business running at 40% of sales, but only needing two staff instead of the ten previously employed. This has resulted from more efficient working.
- Realisation that subcontracting some of the work makes sense. Specialist subcontractors are often more efficient an cost effective than “DIY”.
We can help you become more effective in lots of ways.
Want to review your Procedures and Processes – we have the skills and software to help you.
Want to subcontract some of your work – we have a lot of in house skills and can take on many of the regular tasks which need doing. We also have clients which can help with much subcontract work – and we have a long list of specialists to consult.
Decisions, Decisions, Decisions!
The first thing you need to do is make a decision to properly review your business. Then talk to us to help you plan which services you need and identify suitable specialists to help you.
We want you to be extremely successful in years to come. There’s nothing altruistic about this – if you are successful, we will probably earn more from you. This is why we are happy to spend some FREE time with you to put a plan in place.
You can contact us via the usual channels:
Telephone – 01509 816150
Email – firstname.lastname@example.org
Webmail – see form below
If you don’t already use our services, perhaps this short video might help you decide to: