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Eight C's to help your business during Covid-19

Updated: Jun 4



The information overload is real. The ramifications of Covid-19 on businesses are being felt and speculated upon every minute of each day - probably leaving you feeling like a rabbit caught in the headlights.

Here’s eight simple words also beginning with C to help clarify your vision.

1. Cash. It’s the oxygen for your business, do what you can now to preserve cash for the unknown future state.

2. Credit. You may need to arrange adequate credit; talk to your bank to see what your options are.

3. Colleagues. Your team are the backbone of your business and needs your leadership now more than ever. Your leadership skills will be growing day by day. Be supportive, honest and human.

4. Customers. Connect with your top customers. Call them, if for no other reason than to see how they are. Many are feeling isolated and out of control. A familiar voice and fresh perspective can make a big difference.

5. Condense. Your Marketing Plan and messaging, Business Plan and goals are likely to be temporarily irrelevant. Hit pause. Condense your efforts to focus on this crisis and adapting to make the most of the opportunities that may present themselves.

6. Change. It’s is usually a choice, but right now it’s being forced by crisis. Maximise your financial resilience by imagining a new normal for your business. How can you pivot your business model to serve existing and new customers? How can you get up and running faster?

7. Communication. Whether your business is operating in some capacity or not; keep your customers and suppliers updated regularly. Social media is a big opportunity to engage your audience right now.

8. Compassion. Whether on the frontline or being unable to operate - everyone is feeling it. If we act with compassion right now, we’ll all come out of this better off. There are beautiful stories everywhere we look: from the florist donating his unsellable flowers to frontline nurses, to the musician live streaming a free concert. These gestures will not be forgotten.

If you need support with developing your Business Continuity Plan to help your business emerge successfully from lockdown, get in touch.

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Paul & Co (Accountants) Ltd is a  modern, forward thinking accountancy practice. Apart from the more general accountancy services we can also assist you with business development and specialist tax services to identify opportunities for improvement in your business.

Paul & Co
8 Freetrade House
Lowther Road
Stanmore
Middlesex
HA7 1EP

P: 0208 204 9911

E: info@paul.co.uk

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