Business in 2020: It’s just a season
2020 is the adventure park of business. But don’t organisations face their individual roller coasters all the time? It’s just not in tandem with so many others. It’s all part of the seasonality of business.
We are operating in an unpredictable climate. Pre-prepared, resilient organisations are bewildered as they wade through opportunity and adapted efficiency. The less prepared (we’ve all been there) are digging deep for the grit they need to get through; using learnings and hindsight to cement a more stable future.
So what have we learned? It turns out sustainability and continuity are overused phrases but underused practices. We’ve cashflow forecasted down to increments we didn’t know existed. We are more technologically savvy than we thought. Our people can be equally productive when faced with change and a challenge.
Like all business battles – this too shall pass. So we must run our business like we garden or harvest with the seasons. Each completed project or process will need to be revisited one day. The best plans changed. Our success will come from a mindset of continuous improvement not perfection. For example, making progress by starting, knowing we will update work as we need to.
It’s time to look at the fundamental blocks of your business. If your revenue is down, where can you improve workplace productivity to increase profit margins? With the right people, practices and processes you can sail through a GFC Winter, a COVID Winter and everything in between.
Where to start
Emendas offers a Scorecard Assessment that business owners can use to check their compliance and understand their obligations. This Scorecard process looks at employment to safety and quality to highlight an organisations opportunities and risks. So contact Emendas to find out how your business stacks up: https://www.emendas.co.nz/contact/
Here is a great article if you want to focus on profit retention, see how many of the 30 tips can you apply to your business: https://www.inc.com/david-finkel/30-simple-ways-to-increase-your-profits.html
Preparing for Alert 2? Here’s what you need to know
We’ll move to Alert Level 2 when we’re confident there is no community transmission and that the disease is contained.
When we do, we’ll have measures in place to track and stop any new transmission and stamp out any outbreaks.
Cabinet is reviewing whether we are ready to move to Alert Level 2 on Monday 11 May. Until then, we remain at Alert Level 3.