Planning for a pandemic is not something we would ever hope to have to use. But it is possible to plan during uncertain times, and being prepared is crucial because it can help to ensure your business can continue and minimise any losses. Being prepared can also offer you and your employees some much needed reassurance.
Do we ever know for sure what the next six months holds? Even outside of Covid? That’s the truth we’re all facing.
There are many unknown questions and lots of bridges to cross in the coming months.
Questions you may have already considered at this stage could include:
- How long can my business continue in the current climate?
- Will my business recover from this?
- How can I best support my employees?
This blog will help you to consider all of the options available to you.
We can never be 100% sure of what the future holds, so we must always plan ahead to build business resilience
It is fundamental to plan ahead at all times – not just in times of crisis. This is important because there are always external circumstances we have no control over that have the potential to disrupt our lives and businesses.
You’ve already made it this far through significant challenges
Considering how the last 6 months have been, you have already been challenged with adapting your ‘normal’ ways of working such as:
- Diversifying your business to meet the current needs and demands within your sector as your customers’ needs may have changed.
- It’s likely you have also had to accommodate working from home arrangements for both yourself and your employees while also juggling your own personal commitments.
Revolutionise the new normal
A balance is needed between what worked before and what needs to happen in the future to succeed. The adaptations you have already made have become part of our new way of life.
Achievements you may have noticed may have been an increase in productivity and a better work/life balance. You may have also been able to use this time to streamline processes that you had not previously considered necessary. These changes may not have been something you had planned for in the past, but faced with them they have led you to make these decisions.
Be one step ahead by having an accurate picture of how your business is doing
At Fresh Financials, we do our bookkeeping daily because it allows us to be one step ahead continually and consistently. Knowing what our key numbers are on a daily basis means we have the most up to date information and picture of your business. This enables us to act swiftly and make fully informed decisions in whatever situation we’re faced with. It is crucial if you want to be able to see what is coming to ensure your business does not run out of cash and also to be able to jump at exciting business opportunities.
Steps you can take to look forward and plan ahead:
- Create an action plan detailing your visions as to where you want your business to go.
- Are there any areas in which you will need to get help with?
- Ensure you have a good foundation to build upon and make up to date informed decisions to put your business in the best possible position in order to fulfil your visions.
- The key is preparation and planning.
Taking care of yourself is vital to your business’ survival and success
Your business relies on you therefore you also need to be mentally and physically prepared.
Situations like this are stressful enough without having to run a business, so you must take care of yourself too. Stay connected with colleagues, employees and other businesses to exchange ideas, discuss your feelings and just have a chat!
There are going to be many questions you have and we can guarantee that you will not be alone in thinking this. We will be here every step of the way to guide and support you in any way that we can. We are all in this together.