Business Planning During Coronavirus Pandemic
Further to my video this morning – knowingly undertaken in the dark (my face for radio etc), I commented that we would give a quick insight into how we are trying to plan in the most uncertain of times = Covid-19. Our attitude is stay agile and get business planning during Coronavirus.
We as a management group are meeting every day via 3CX video conferencing at 7.30am, to keep up to speed on where we are as a business in today’s continually changing landscape.
Our current plan and daily review takes the following forms:
- Maximising Cash Flow – yes stating the bleeding obvious, but as my senior partner used to say ‘cash flow is the 8th wonder of the world’.
- Grab the lowest hanging fruit with both hands and yank the bugger out of the tree.
- Costs need to be so so so tight
2. Review our marketing daily. Weekly and monthly plans have gone out the window. We have to be so sure we are on point with our message, especially when you of the type think the work we undertake, we will not be ghoulish in our messages.
Yes, we’re going into recession – but we fully respect all entrepreneurs struggling out there due to Covid-19.
3. Being abreast of the facts at all times. Don’t look at all news feeds or it will do for you. I thoroughly recommend the FT and they will have a subscription deal on at the moment for sure. The FT continues to always offer succinct reliable reporting, such as Pilita Clark’s excellent piece from yesterday ‘No room for bullshit in this time of coronavirus’.
James Bell, Noel O’Hare & Angela Thorpe sign up please to any entry-level for the FT.
Also, a man who speaks a lot of sense is Luke Johnson who writes in The Sunday Times and is on twitter.
4. Working on different timeline and plans.
We have a one week, two week and five-week plan here during Covid-19. As things evolve/change we will look at things accordingly. As I said in the video piece I need this for my wee brain but we need to plan at least for some light at the end of the tunnel, as day to day existence is no good. We all need purpose here.
5. Ensure we are smarter in our work.
Lockdown gives us more opportunities to consider options, tactics and approached on cases.
6. Making sure and it’s cliché but…think outside the box.
For example, we have today developed another way to attack our work in Spain merely by taking some time out to consider the detail of what we do.
It will be a game-changer – hopefully.
7. Ensuring our team is motivated on a daily basis.
Remote working and managing bring their own challenges.
We have the benefit of an established team here. If you are alone or not able to talk to a peer or someone else conversant with the pressure so business before the COVID-19 landed. It’s tough out there as we all know so keep talking.
Tomorrow we are going to relay a few types of stances we should approach when faced with financial adversity. Business planning during Coronavirus is critically important as the regulations from the powers that be will change rapidly. Stay agile, stay on top.