As we begin the work week, the new reality of the coronavirus has begun to significantly affect our daily lives in the United States. Here are some thoughts on how to prepare your company right now, as well as to position your company to exit the pandemic, perhaps even in a stronger position.

  • Do not skip holding daily team meetings. Think about holding these meetings virtually to keep all employees updated and informed. This is the most important way for your organization to get the daily, real-time employee and customer feedback needed to keep the organization focused on the critical tasks at hand. 
  • Make real-time adjustments to your strategic plan. Bring your leadership team together to review your strategic plan and discuss the adjustments you might need to make to your plan. It is critical that discussion in this meeting be open and honest.  You should have a contingency plan for the best and worst-case scenarios. Use this meeting to decide, as a team, on the next steps of action. Commit to reviewing your plan weekly. 
  • Know your cash burn rate and understand your monthly cash flow. Cash is king and it is a must to know your monthly cash flow. Contact us if you want help in projecting your cash flow. We have proprietary software that can help you do this.
  • Look for new opportunities to deliver value.  Have your leadership team prepare a list of  opportunities that might exist to help your customers navigate in this dynamic environment. Although the coronavirus will definitely cause some hardships, you can also focus on identifying the opportunities that could make your company more valuable over time to your customer base.
  • Follow the CDC recommendations for social distancing and good hygiene. CDC is the best public  source for updates. https://www.cdc.gov/coronavirus/2019-ncov/index.html?CDC_AA_refVal=https%3A%2F%2Fwww.cdc.gov%2Fcoronavirus%2Findex.html 

Accerion Partners is here to assist you in continuing to grow and scale your company, even in times of challenge and hardship. To learn how to access our services on our virtual delivery platform contact us at 616-377-4567 or via email: info@accerionpartners.com .