Restructuring businesses one piece at a time.
Restructuring businesses will improve your community and ultimately make it work and able to survive the next crisis. The COVID-19 pandemic should be the most crucial wakeup call anyone can have if a better future is to emerge.
The COVID-19 pandemic has now turned everything upside down. Everyone is impacted by putting many people and businesses into situations from which they will never recover. We all have to prioritise and concentrate on what’s important and what will help to pull through a period of anxiety and uncertainty.
Everyone should be looking into insights which can help to future-proof our businesses and create a better future for the town or village. Look at this time of adversity as an opportunity to improve your community.
- Understand the new problems, frustrations wants and needs.
- Anticipate, and go above and beyond to fulfil requirements.
- Engage and support entrepreneurial activity.
- Act with purpose in helping businesses and job creation in your community.
- Restructure enterprises and build a more robust business ecosystem.
- Do smart, responsible, and vigorous marketing and support.
- Use this time to align all activities with the local vision and objectives.
- Re-align technology and communications available in the community.
- Introduce creative and innovative programs which are relevant.
As much as you might want to rush back to what life was like before this COVID-19 pandemic, the reality is you will see a new kind of normal for some time. What you do now will define who you are later and how your community will recover and move forward into the future with certainty.
Restructuring businesses and reject the notion of business as usual.
As the initial shock continues to impact on the business operations and sink in, everyone is looking for help and support. Here are some tips to help businesses and non-profit organisations in your community.
- Focus on doing one thing well and hire specialists to improve, the quality of work.
- Upgrade the business model, and improve planning practices.
- Inject creativity and innovation into your value chains.
- Work on import replacement programs and generating new opportunities.
- Improve customer engagement and new customer generation.
- Avoid cash flow problems by becoming more financially savvy.
- Improve systems, tools and processes.
- Improve customer engagement and customer experience.
- Focus on specialisation and unique products and services.
- Upgrade all sales and marketing activities.
- Train employees and take out the strain.
- Build a management team with leadership skills.
- Reward good performance.
- Engage advisors and mentors; it’s too hard doing it by yourself.
Always help entrepreneurs to build companies to be on-sold even if they have no intention of cashing out or retiring. It will help to create continuity in the community’s supply chains.
It can be challenging when looking at what is possible to revitalise a devastated business community. Contact us for our tool, “Community Business Re-engineering”, https://faqsupport.com.au/contact-us/
Key Message: Acknowledge things have changed, as there is no more business as unusual.
“Every business has two organisational structures. The formal is in plans; the other is the everyday relationships associated with the stakeholders”. Peter Sergeant
“No pandemic or natural disaster has killed off people’s need to live and work in clusters of common interest with suitable knowledge bases and support structures”. Peter Sergeant