Change Better. We support companies to structurally improve their business…
The Coronavirus (COVID-19) will have a substantial impact on your private life and our businesses. What is the impact on your current trading numbers? What are your latest management projections? Where do you stand on the business time crisis line? Please continue to prepare in order to maximize your going concern potential. Based on our experience, we share lessons learned and some best practices how to survive in business during a crisis.
Dream big –start small -act now (and do not hesitate)
1) Customer-Centric is key. Over communicate with your customers and strategic business partners.
2) Stop the bleeding, slash costs & tighten the ship.
3) Always be closing. Make what sells & sell harder.
4) (re)set your profit zone. Based on data analytics, optimize the usage of people, equipment & cash.
5) Analyse your data. Watch for trouble signs and red flags. Stress test management projections.
6) Cash is king. Manage your liquidity position on a regular (daily/ weekly) basis.
7) Re-negotiate your financing terms and conditions now, and work on your relationship with (quasi) equity and (bank) debt providers.
…with our head in the sky and feet in the mud