Get your head out of the sand...

I have met many SME businesses in the last couple of weeks and there is a real mixture of how people and organisations are dealing with the #COVID-19 crisis. This ranges from totally ignoring the issue at hand and thinking it will all blow over...to complete panic stations and over reaction. I have been absorbing the news, listening to podcasts, webinars, radio and TV...

The facts are that there is going to be a reaction and economic impact from this crisis, how large or how long that continues for is unknown currently. As per my LinkedIn post yesterday, now is the time to PLAN and not PANIC. However that does mean plan NOW.

Look at the current statements that have recently come out. I had an email from British Airways and Virgin Airlines yesterday with reassuring me that if I book now I can change flights free of charge if necessary. They also went so far as to tell me that they have enhanced the cleaning on their flights. This move helps instil CONFIDENCE in their customers in an uncertain time.

Today, my hairdressers emailed me to share with me the measures they have put in place to ensure clients well-being and comfort. The local cinema also emailed me and let me know about the increased cleaning procedures they had put into place. So this proves that not just the big brands are taking action.

What 5 things should all SME owners be thinking through RIGHT NOW?

• Staff - Do you have contingency plans for when staff cannot get to the office? How can you enable staff to work effectively from home? Can your staff get out to see customers or are customers placing restrictions on this? If there are certain staff members with specific knowledge ensure they write down the basics of their job in case they can't get into the office or are sick.
• Supply chain - Are you going to be able to get the materials/products/services you need to run your business? Can you look at alternatives (perhaps you already have secondary suppliers).
• Diversifying - Is your business directly affected by the crisis; tourism, event management etc? Are you effected in a secondary tier; event organisers, event locations etc? Think through how you can diversify your business in the short term. A contact of mine runs a scientific poster company, designing and printing them - all scientific conferences are delayed or cancelled until later in the year but he is looking to diversify and print posters for local businesses to warn about the benefits of handwashing.
• Capitalising - Some businesses are thriving currently - think about hand sanitiser producers, cleaners, filtration experts. How can your business best serve those industries?
• Sales and Marketing - People that I have been talking with have been reporting cancelled trade shows, exhibitions and even a ban on face to face sales staff from visiting their customers facilities! How are you going to continue to market - can you up your digital presence? Can you sell online rather than face to face? Are you GDPR (groan!) compliant?

So what do I suggest? - Get with your team, your friends, your family... me and brainstorm, brainstorm, brainstorm. Ask the awkward questions, take my tips from my last post on brainstorming! Remember PLAN don't PANIC.

If you would like to book a 15 minute FREE no obligation brainstorming session with me to discuss your situation please use the calendar link here to book.

CONTACT ME if you are an SME owner and would like business advice NOW. 

#SME #COVID-19 #plandontpanic