No One Will Be Untouched

 

Our businesses have changed, perhaps forever, due to the COVID-19. Once you emerge from this crisis, you can reinvent your product offerings to first just survive in the post- COVID-19 economy, but eventually thrive. At the heart of your strategies, we recommend, evidence-based decision-making.

AccuComp desires to collaborate with you to make immediate decisions to reduce cash burn. Your sound decisions now will make your funders have confidence in your judgment, so there can be available for additional funding if required. Here are questions to guide your thinking as to how to reinvent, retool, and re-envision while inspiring for a post-coronavirus economy.

Our first blog was:  https://accucompenterprises.com/where-does-it-come-from/

Blog Author

 

In my professional career I have been involved in four (4) downturns, seventeen (17) business closures, three (3) recessions, and maintained a small business during an entire state going broke during the late 1980’s due to the collapse of the domestic oil market.  Over my forty-five-year career, I observed experts leading recoveries in these circumstances, so a learned a few techniques. As a result, I am sharing both “best practices” and strategies that I have advised clients who were facing disruption issues.  Obviously, none of the above compare to our current pandemic.

Check out my LinkedIn profile:  https://www.linkedin.com/in/bjmartinez/

Are you ready to begin your growth, now?

 

As the world rebounds from the CORVID19, you will be confronting a “new normal:” the prospect of slow growth for many years to come. Managing in this new era will be different – and much will rest on how willing you and your teams are to digress from your comfort zone and challenge your traditional processes.

To cope with future challenges, you will need to question, reassess, and redefine your pre-COVID19 thinking. You will have to reexamine the context in which you make decisions. You may emerge as a new company, based on what customers want and your ability to deliver.

  • What can you do now to prepare for reopening?

    1. How can you begin to limit your current cash burn rate?
      • Hold on to your cash.
      • Approach all resources with your revised projections, so you can be nimble during this period.
      • Explore opportunities, technology, and maintain your old team.
  • What can you deliver to your customers?

    1. Are you talking with your customers to determine what they feel?
      • Know what’s going on with your customers.
      • See if you can get commitments for purchasing your current offerings, or what customers are telling you they are needing.
      • Find out what your competition is doing.
      • Contact your competition’s customers to see if you can deliver to them.
  • Are you looking for opportunities?

    1. What changes have occurred in your industry due to the pandemic?
      • Plan to change now to be more competitive.
      • Take your projections and do those things now.
      • Optimize your operations to meet the changing requirements of customers.
      • What resources are available for expanding technology into your daily operations?
  • Are you investing in your people?

    1. What are you doing to maintain the loyalty of your old team?
      • Send emails weekly to let them know your plans.
      • Ask them to participate in your strategies.
      • Reward and recognize, when you can.
      • Say “Thank You”.

Conclusion

 

Your people are looking up to you for strong leadership—which creates a climate in which the risk of failure does not overwhelm real opportunities. Even when your funds are short, it is important to allow, and even encourage, experiments, and pilot programs. Keep in mind that every dollar invested has even more impact as your competition scales back.

You will have to get used to heightened competition. Take the initiative, respond decisively to the challenge, differentiate yourself and execute your strategies with single-minded determination. You can still expect to grow. Look at your new realities as once-in-a-lifetime opportunities.

AccuComp Enterprises is ready to advise and collaborate today with those who wish to begin the restart you’re their growth now.  Contact us at appointment@accucompenterprises.com.

We are all in this together