We hate what's happened to businesses because of this pandemic. There's so much chaos and uncertainty out there right now. It's easy to get overwhelmed. Maybe you don't know where to begin, or you're buried each day, just trying to survive.
Our consultants put together this guide as a way to pull out the five biggest questions we're helping our own clients focus on to get them past surviving and get them into thriving. To get them out of the uncertainty and back to profitability.
We call it the "5 Guiding Questions to Help Your Business Come Back in the New Normal." You can download the full document here, or enjoy the "Cliff's Notes" version of it below. Who remembers Cliff's Notes, by the way?
It's important to answer these questions in order. I think you'll see why, but essentially, each question depends on the one just before it.
#1: DEMAND - HOW ARE YOUR CUSTOMERS BUYING NOW?
By now, you've likely learned how your customers are buying from you, but think more long term. They may be ordering your product differently, or maybe they don't care about your product at all anymore. Find out. Look at data, look at your financials. Your customers may have changed. It's time for you to change too.
#2: SUPPLY - HOW WILL YOU MEET YOUR CUSTOMERS' EXPECTATIONS?
This is all about adapting. Movie companies like Disney had to adapt by sending big movies like "Onward" direct to consumer via Disney+ after movie theaters closed down. Their future may even entail a blend of movies going straight to cinema or straight to streaming. So think about what you need to do to change your model, specifically for the long term.
#3: EXECUTION - HOW WILL OPERATIONS EXECUTE ON THE SUPPLY AND DEMAND CHANGE?
The org structure, processes and technology you were using to execute operations before COVID likely aren't the same going forward. You may have different roles that need to be filled. You may be working with 30% less employees than before. You may even be wanting to seek ways to leverage AI for automation efficiency. Either way, real change needs to happen. And frankly, there's no better time than now.
#4: SAFETY - WHAT IS YOUR NEW SAFETY STRATEGY FOR STAKEHOLDERS?
You've likely already rolled out safety protocols, but this question strives to achieve a longer term purpose. Health and safety are now synonymous. They both used to be boiler plate, but now they can kill a customer, an employee or even your business. Your new safety strategy needs to be effective and scalable. Consider making a key hire to focus on health and safety or identify one person that can lead this on.
#5: SAVINGS - WHERE CAN YOU MAXIMIZE COST SAVINGS?
You need to understand the answers to questions one to four to really answer this one. You may no longer need half the space you were in. Projects that you had in progress may no longer be priority and need to be shuttered. Expenditures that seemed reasonable before may not seem that way now. Take intentional strides to make cost cuts. They'll likely enable you to do so much more for your customers, your people, or even for innovation.
Download the full free guide now at Louderco.com/resurgence.
We hope you found this helpful. Your comeback awaits, and I'm pulling for you.
PS. You'll see more information coming out on this soon, but we're making changes for the new normal too. One of the big ones is performance based pricing. We're cutting our rates substantially and tying our pay to how much money we save you. If you want to learn more, schedule a meeting with me.