Change Better. We support companies to structurally improve their business…
Governments across Europe start to ease coronavirus (COVID-19) restrictions. That said, this virus will continue to have a substantial impact on our private life and our businesses. Where do you stand on the business time crisis line? What are you doing to turn the ship around? How do you prepare for the (near) future? Please continue to use immediate recognition in order to maximize your going concern potential. Based on our experience, we share lessons learned and some best practices how to manage your businesses during a crisis.
1) Act now. Pick your team members wisely. Create a strong, cross functional team. Build momentum.
2) Prepare and do your homework. Upgrade your business plan, financial model and in particular your liquidity projections. What is your runway?
3) Focus on data analytics. Value creation is a moving target. Reorganize your equipment, people and cash around value streams.
4) Calculate your risk. Don’t bury one’s hand in the sand. Did you already put your company under a microscope? What is the cause, effect and consequences to your business(es) as a result of COVID-19 outbreak and prevention regulations?
5) Communicate to your customers and be empathic. Don’t send a bot, but a human being in order to prevent any miscommunication (or for that matter frustration). Try to please everyone, but accept that you won’t.
…with our head in the sky and feet in the mud