First, I will like to appreciate everyone following the series on what Businesses should be doing during this lockdown. Thank you for the feedbacks and encouragement. We will be taking a step further in our discussion. In this edition, we shall be looking at the paperwork Businesses need to be doing right now if they intend to stay in business.
One major paperwork businesses ought to be doing right now is what I call effective planning. I am aware some businesses are already doing and using contingency plans. Proactive businesses must take a step further to do an effective long term plans. They must be able to see beyond the immediate. If the business must succeed and not just merely exist.
I understand the times are not really looking certain. Yes, there were never times of 100% certainty in the business activities. This is the time we know skillful managers who can be proactive. So many businesses are reactive, they have to wait for a problem to hit them first and that means the success rate is already limited. So many things will be meeting you unprepared and unaware. This is the time for proactive businesses.
Questions Businesses Need To Be Asking
For the proactive businesses, there are two important questions they should asking themselves right now. I understand there are several questions on people’s mind both employee and employers have lots of questions. Amidst all, I believe that we should be asking the right questions that can help us think in the right direction.
What’s The Best Case Scenario?
In your own view, what’s the best case scenario? For you, it maybe that coronavirus disappears and business operations resume full time in two to three days. For another, it maybe all restrictions removed in a week. Whatever your best case scenario is, make plans with it. Just in case it goes that direction you won’t be dumbfounded rushing into things.
What’s Your Worst Case Scenario?
Just as you asked the first question, it is important to think deeper and ahead by asking what your worse case may look like. To one, it maybe lockdown for next one year. To another, it maybe lockdown for next five years. Whatever the worse case maybe, make a plan to scale through. You just have to be prepared even as the days unfold. Strange times sometimes demand strange strategies and tactics
Apart from these questions and making plans with the answers, there are other things businesses need to do if they intend to stay in business and be a success. In the next piece, I will be sharing more. Ensure you check back. Don’t forget to comment and share with your loved ones especially the business inclined or entrepreneurs. You can also shoot me an email for concerns.