I travelled for the first time this week since the start of the pandemic.
I struck up a conversation in the Qantas Lounge with a business owner in the textile industry. He told me about a workbook produced by Deloitte Private detailing a roadmap out of COVID for small business.
I got hold of a copy – Well done Deloitte Private !!!
The workbook details (6) six strategies small business owners should be working on now as we recover from COVID-19 and re-open.
The three (3) phases are:
- Respond – dealing with the present and managing continuity
- Recover – learn and emerge stronger
- Thrive – prepare for success in the “new normal”
You apply these three phases to the six (6) strategies Deloitte Private discusses in the workbook:
- Understanding your customer’s needs :
- Are your customers aware of the impacts to your business ?
- Are you aware of the impacts to your customers ?
- Are you aware of how this effects your business ?
2. Getting your cashflow is in order:
- Do you have a sound understanding of where things are at ?
- What’s your business level of liquidity right now ?
- How is this likely to change in the immediate future ?
3. Re-organising your supply chain:
- What’s your suppliers situation right now ?
- Do you really understand your supply operations ?
- What is your business’ working capital/inventory position ?
4. Rethinking your workforce:
- How has workforce capability been affected ?
- How has the way people work been impacted across the business ?
- Do you have an open communication policy with employees re-opening after COVID-19 ?
5. Digitally enabling your business
- how can your business enable digital ways of working ?
- what security risks do you need to consider ?
- how can you optimise your digital platform to sustain your business ?
- how can your business enable seamless digital processes ?
6. What’s changed in your workplace ?
- do your workplace practices align with public health directives to protect customers and employees ?
- what are your updated legal and compliance obligations ?
- do you need to update your business travel policy ?