How to run business during the crisis

Wait-and-see attitude

• Consider important decisions carefully
• Don't put the company potential and reputation at risk
• Decide what you are ready to abandon and keep safe everything else
• Use the crisis time for breathing-space or rearrangement of the company and team
• Monitor the situation to notice the end of the crisis and understand that it is the right time to start

Concentration on important

• Find the possibility for development during the crisis
• Don't try to achieve many goals
• Choose the main goals and work with them
• Have your strategic priorities and current situation analysis in mind
• Concentrate all your resources on achieving the main goal
• Ask yourself the following questions:
• What can I refuse from in my business?
• What should I pay more attention at?
• What should I start doing (something that I haven't done before)?

Revision

• Ask an independent expert/agency to hold the audit of your strategy and promotion
• Reduce expenses and get new ideas for business
• Arrange a group meeting with the expert/agency to decide together how to work more effectively during the crises
• Refuse from unimportant

For example, in promotion there are always the channels which give the main part of sale volume, and additional, which can be refused without any essential loss. Pareto Principle (80/20) works here perfectly.

• Cancel complicated and not clear promotion steps
• Keep the team motivated and interested in results

Still if you decided to fire somebody, explain the reason and let others understand the lesson.

• Analyze your partner relationships...

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