Do you have a fitness plan?
At the start of Lockdown that we were all out there exercising for England… You couldn’t turn around without seeing people out walking together or with a partner. To keep ourselves mentally and physically healthy is really important when movements are restricted and the future is uncertain.
Getting fitter not fatter is important for your business too. Resilience and Pivoting seem to be the buzzwords of the moment.
I have come across a curtain maker who pivoted her team to making scrubs for the local hospital, a farm shop that reinvented himself online and turned his tea room into online meal delivery, a plastic moulding company that started making masks, a freight forwarding company that suddenly found their main business was in transporting masks around the world. A bridal shop who switched all her bookings to online – and is now taking on extra staff to cope. A marketing agency that switched from international entertainment clients to supporting small local business.
Other businesses have simply moved to working from home – it turns out all we really need is a good wifi connection, a decent laptop and a printer/scanner. Zoom has taken over our lives, (although I don’t think I ever actually attended a meeting in PJ bottoms.)
Some sectors have been hit very hard. Some will not recover, and some will come out much leaner and fitter.
Do you have a fitness plan? Can you measure and test all your processes? Do you know your numbers? Do you really need those premises going forward? Cash is king, but cash in the bank is not necessarily yours to spend. Did you get a Bounce Back Loan or defer your VAT payment or not pay your July self assessment? All these have to be repaid at some time. Do you have a cash flow projection in place.
Joe Wicks and Zoom may have been the big winners from this crisis, but small business will fly the flag for Bounce Back Britain.