Getting your business back to work

Every business will have faced different challenges due to Covid-19, but one thing we all have in common is that it is perhaps now, as restrictions ease, that we face some of our most difficult decisions. During lockdown our options were limited, but now we have to create our own route map out of the crisis phase and into the new normal.

We thought it would be helpful if we created a series of useful suggestions to help.

Walking the tightrope between the physical and mental health of our employees and the financial health and possibly survival of our companies, is one of the most critical challenges we will have faced in our lifetimes. There is no playbook for this, and precious little steer from any quarter.

So, what do we need to consider, to help us get this right, when getting it wrong could have the most severe repercussions imaginable? Like any potentially insurmountable challenge, we need to start by breaking it down into more manageable pieces, and remembering that even now the speed at which circumstances might change means we must be ready to react and adapt rapidly.

While there are many elements to consider, the following will be relevant for most businesses;

1. Protecting your employees
2. Ensuring liquidity and nailing cash flow forecasting
3. Setting up a task group
4. Staying close to your customers
5. Focusing on sales
6. Stabilising your supply chain
7. Demonstrating leadership and purpose

Clearly the first of these is the most important one to consider and we will address this in the next email. However, all of these need to be assessed, however, you cannot do everything immediately, so prioritise and engage your team to support you.

In addition, don’t be afraid to ask for external help and support, these are unchartered times and sharing ideas and asking for advice are important steps on the road to recovery.

This is 1 of 8 blogs we have written to help businesses as they are faced with the new challenges in the post lockdown world. If you would like to receive the next update in this series, please email jemma.houseman@bhp.co.uk