The fundamental question in preparing your post Covid-19 business future is whether your industry is “inside or outside” the circle of sustainable industries. Slow recovery is predicted for most retail stores, restaurants and other social establishments; while stay-at-home enhancements from landscaper, pool contractors and home entertainment installers are outliers in an otherwise recessionary business picture. If your industry is in between, your bridge back to profitability must include a new operational outlook, creativity, a detailed plan, more wide-ranging management skills, and patience.
No one ever imagined having to manage their business through anything quite like a world-wide pandemic. Protecting and pairing workers; meeting different customer expectations; constantly juggling financial matters; operating profitably; regularly communicating with staff, customers, and vendors while staying ahead of competitors are all; still very critical concerns. These tactical matters, plus big people and operational process realities will surely require attention, if not wholly-new approaches to traditional ways.
Navigating through these unpredictable circumstances armed with a department-by-department process improvement initiative and contingency platform, is the best preparation tool for success in tomorrow’s small business marketplace. Your operations manual must be designed to deliver a thorough, granular platform to operate effectively in normal and not so normal circumstances.
Organizing your return plan today will make the real restart possible and sustain the revenue engine of any small company.
What to do when everything changes:
* Test the prevailing pressure
* Accept today’s circumstances
* Calculate your $$$ burn rate
* Reset expectations (write it)
* Put aside command management and lead
* You can’t lead until you become proactive (see above)
* Implement your process improvement initiatives
* Customer finding (regularly check the suitability of your offering)
* Continuous operational efficiency
* Staff adjustments, improvement & protection
Consider the fact that implementing change in an existing organization usually requires skills that do not reside within that organization. Read other of my recent articles on pandemic-related insights for getting back to business here.