Running A Business During The (Caron)Apocalypse: PART 2

Working For Your Future

Running A Business During The (Caron)Apocalypse: PART 2

April 27, 2020 Blog Update 0

Previous part here

Image credit: https://flickr.com/photos/dva41/

Unfortunately we have had the need to carry on with this series. Every business in the world right now needs to develop a new business plan.  As we are in uncertain times and we do not know how the world markets will look in a couple of weeks time, it is advised that every business becomes pro active in adapting to our changing societies.

We advise all businesses if you have not done so already to consider these options for the future.

SHORT TERM PLANS (1-3 Months)

List out the threats to your business in this time period, what are the options you could take to avoid them and how likely are they to work? Speak to suppliers and creditors to see if you may get relief during this time period.

 

MEDIUM TERM PLANS (3-6 Months)

There are only two possible outcomes we will have to consider over this time span. As there is still no official vaccine for the virus it means that this figure is still only speculation. And that the very worst case scenario is that we are stuck in a cycle repeating these events until a vaccine is found. Mass produced and distributed.

a.) Continuous lockdown period from now for the next 6 months.

b.) Periodic lockdowns from now for the next 6 months

 

LONG TERM PLANS (6-12+ Months)

a.) Continuous lockdown period.. Which would be impossible to sustain. But best to plan for anyway.

b.) Periodic lockdowns or lockdowns based on areas or regions.

Either way the long term outlook without a vaccine would mean that we are facing major changes to society. And a coming great upheaval. Our roles and the services we provide, are an important part of maintaining our local economies and recovery from this period.

As this has been proven with the importance of shelf stackers, small local shops, carers medical professionals, police and more.. All local organisations who can continue, will play a vital role in seeing each of our communities through these times.

The conclusions will decide what happens to a business.

a.) MOTHBALL – Place the business in a state of temporary suspension. Furlong workers. Try to pause or suspend any expenses and stop as many overheads for the business as possible. For as long as possible.

b.) DOWN SCALE – Work out what essential functions your business needs to continue and look at alternative ways of delivering these functions in a low risk manner or through remote means. Setup staff to work from home. Use the first part of this guide if you are an essential worker etc.

This should not just apply to service delivery and business functions but also in how you get business and customers and clients. If you were not online before then you may need to do this for your business before it is too late. And it may be too late for some already.

c.) STOP TRADING – This is the worst case scenario. But if your business relies on only walk in trade, and there are no online options for you then you will need to seek local government help and grants to help you through this time. Your local council website will have more information.