The lockdown has been a shock to business. People are predicting the worst downturn in the economy in 300 years. If firms are to survive, what steps can they take? Here's a start with a few suggestions:
- re-evaluate your overheads - do you need to spend what you did before (on property for example)?
- re-evaluate how you produce your work - can you do it smarter at lower cost of production?
- re-evaluate how you deliver client care - they've got used to the convenience of visiting you remotely, it's more convenient for them - the competition for clients when the lockdown will be fierce
- re-evaluate how you meet your compliance obligations - do changes allow you to do this in a more slick manner (remote viewing, signatures etc)?
- re-evaluate business continuity and distaster recovery plans
- how will you ensure staff safety as the lockdown is eased (PPE, social distancing, cleaning surfaces etc)?
- consider what you want to achieve - do you want to stay in business? If you actually want to find a buyer for your firm do some housecleaning & prep. If you want to expand, decide what you're looking for.
Just a few thoughts - what others should people consider?
