Where to from here?

As I sit here on a Sunday afternoon penning this message, I know I would rather be spending time with my wife and kids, getting ready to watch the Newcastle Knights notch up a win against the Tigers or even just sitting in the beautiful sunshine reading a book. The reality is that we are about to face some uncertain times. Up until last week, the extent of the problems we faced, seemed to be centred around access to some of the items on our supermarket shelves. The impacts still seemed to be low and I think most of us have dealt with that ok.

This last few days has seen a change in the conversation amongst us, and we are all preparing for “what” is next, which seems to be an evolving thing that changes every other day. I’ve spoken to a number of my clients over the past week, with mixed discussions. Just like the “curve” highlighting the number of cases by country (showing that each country is on a different stage of the curve), I believe that we are all on different stages of the curve in identifying how this may impact each of our businesses and lives.

There are some businesses that are looking at possible wide-scale closures should an outbreak occur in their business, there are some that are looking at an amazing amount of demand, however supply is limiting them. There are some business owners that really haven’t turned their mind to its impact.

I suggest that if you currently do not have a business continuity plan or your are not having any discussions around what impact this may have on your business, that you pick up the phone and talk to someone you trust. It could be a mentor, it could be a business advisor, it could be your accountant. Being prepared for what is next is part of the battle. Having options is also part of the battle. Having no plan, or sticking your head in the sand at this stage is not wise.

The Commonwealth and State Governments are releasing a lot of stimulus, which I applaud. We will release another post detailing what this is shortly. The Government can see that we need to build a bridge to get through this temporary challenging period. These funds need to be used in a productive way and a planned way, not seen as a “windfall gain” in the early days and wasted before they are needed. Should you be looking at the your Business Continuity Plan and see that everything should be OK, then I implore you to put the money aside to look to assist other small businesses and the community get back on their feet through donations or sponsorships or giving of your time to help those in need.

Please be kind to one another and remember we are all in this together.