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Posted by Sarah Brown on 29 Feb '20
Use Coronavirus to be better prepared
So it’s official, Boris Johnson has said that Coronavirus is likely to spread so how will it affect your business and your personal life and what can you do?
Since they had run out of their baked beans in Waitrose on Saturday I suspect people are personally contingency planning with beans in the store cupboard in case they are quarantined, but what do you do for your business or organisation?
Like baked beans it is worth doing something that will have value even if you don’t have to use it for Coronavirus so here are three ideas which will have value for your business going forward:
- Have method statements in place for key tasks that need to be done so that if you or a member of staff gets ill or quarantined someone else knows what to do. Remember to include infrequent tasks which are critical such as VAT etc. We call them method optimisers and everyone we have worked with on them has found them invaluable and has increased their efficiency.
- Identify potential other suppliers or alternative products/services you could use so that if a particular organisation has a problem you can easily address it.
- Review your customer portfolio to ensure you are not too reliant on one client. We advise no more than 15% from one source if possible. Scenario plan what you would do if you lost your largest client and implement any of the actions in your plan that you can do now. This might be reducing fixed costs or increasing marketing to get more customers.
Contingency planning is always good practice but this situation gives you the permission to spend some time doing it rather than thinking you need to focus on the day to day.
If you need any help contact me, Sarah Brown on 01709 810080
If you are interested in other areas to improve your planning, you may find these interesting:
Stakeholder communications planning
Dealing with an uncertain future - the role of business planning