If We Have Another Lockdown, How Long Can Your Business Survive?
Not a scare story, a genuine question. As a business owner you know it is always in your best interests to prepare as much as possible for any scenario. But do you have a documented and tested plan for survival in the event that another lockdown – whether in whole or in part – is implemented? Have you discussed how you will improve your response in comparison to the previous lockdown?
Have you discussed the prospect of a lockdown with your suppliers, and agreed with them what actions you need them to take? How will you ensure your business ingredients (raw materials, people, hardware, et al) are available when and where you need them? Do you have a marketing strategy to ensure your customers know what you will do, and which provides assurances that your products and services will continue to be delivered? Would you benefit from diversification? Are your funding sources secured?
The potential list of questions is endless, but the answers depend entirely on your business needs.
We have already started to work with our clients to help them make sure they have built-in resilience for survival. Not surprisingly, most had this on the ‘to do’ list, but other more immediate priorities continued to push it to the bottom of the list. That is a recipe for a crisis, so we have mapped out a workable, cost-effective solution with them to make sure they have a range of scenarios which have been tested (and modified in the light of the results of those tests). That makes them better prepared, and avoids a potential panic-based response.
Give this some thought please. Acting now will avert – or at least mitigate - any business disruption. #businesssurvival #advanceplanning