These Things Can Help

Last week I asked readers of Tony's View to offer up their thoughts on what things are helping their businesses during this Covid-19 crisis. Following is a summary of their insights, and full results plus plentiful quotes will be included in tomorrow's Tview Premium weekly. Enjoy. https://tonyalexander.nz/test.php

Here are the main themes which came through.

1.     Take government help where offered.

2.     Embrace remote working but monitor it to be sure it works.

3.     Ask more of your staff. If talked with maturely and delivered all the facts they will respond.

4.     Work to keep staff morale up through special functions, small gifts.

5.     Communicate openly, honestly, and if necessary frequently, with all relevant parties including staff, bankers, suppliers, and customers.

6.     Invest in IT and go online where possible.

7.     Concentrate efforts on good customers and gaining new business from them whilst offloading poor clients.

8.     Boost cash flow monitoring and planning.

9.     Reduce ongoing costs and put long-term strategic plans on hold for a while.

10.  Be ruthless in determining which forms of marketing work best.

11.  Focus on boosting business agility and ability to react to unpredictable changes in your operating environment rather than trying to forecast what lies ahead and position only for that.

12.  Don’t treat this as a repeat of the GFC. The characteristics and pressure points this time are quite different, with some businesses much better off.