If you are one of the lucky ones, like me, to still be in business you must be doing something right. So why do you still feel anxious, or at least ultra-cautious and maybe worried about the future?
At least some of the doubts about weathering the Coronavirus pandemic are behind us and there is an air of expectation that we are starting to cross to the other side to get the wheels of industry once again turning over.
We’ve battled down, made good, fast decisions and done the hard yards and it would appear, the country is winning the health battle. However, you realistically would have to think this is just the first phase of a crisis that has gripped the world and is now readying itself to reveal the ugly picture about the state of each country’s economy, the how it was, how it is and how it is going to be. The Good, the Bad and the Ugly.
Don’t kid yourself. The road ahead that brings about an economic recovery is going to be tough. It will call on all our strength and smarts as we learn to exist and operate in a vastly different world in the weeks and months ahead.
So I urge you, now is the time to be thinking of the future.
Make it your Mantra: I will survive. The Good, the Bad and the Ugly
The last thing you want is to be one of those companies that won’t survive the COVID-19 pandemic having got this far. The survivors will be those that have the initiative to know they need to re-strategise and pivot for longevity.
While COVID-19 is the crisis right this minute, now in 2020, brand transitions have a long history and there are numerous success stories from years and years where companies have faced the need to reinvent, to rebuild and to stay alive.
Those that pivot will win. A global crisis like the Coronavirus creates change, and the upside is, this provides endless new opportunities. For change, for the better, forever.
The internet and the media are awash with tips to keep your business afloat. I feel almost tipsy and dragged down from consuming the advice. After 25 years running a successful marketing and public relations company, I am, as the CEO the first to admit the coronavirus has tested leadership in Australia, in unprecedented ways.
Getting ahead of the next stage and preparing for what’s to come is paramount. Not wanting to overload you with another long list of tips, look at what needs to happen today, in a month and in six months and determine quickly your cash flow threshold.
Companies that survive are able to act decisively and quickly amidst so much uncertainty and risk. These decisions are taken once you’ve identified the weaknesses and threats to your business. It’s not a time to put your head in the sand.
I’m in the PR and marketing business, so I take a lesson from what I tell clients on a daily basis: over communicate with staff, clients, suppliers and other stakeholders.
Show leadership. If in doubt, look in the mirror and stand tall
Being upfront and transparent with your staff is ethical and they will respect you for doing so. You may need to ask your people what is their minimum home budget to survive – can they afford pay cuts. Amazing teams will pull together to keep their job security and keep businesses afloat.
With expectations growing that we are crossing to the other side and out, now is the time to stay ahead, avoid complacency and review your marketing strategy. Make a new plan.
If you are exhausted, get some sleep. Wake up and repeat the good work