A second UK lockdown has been announced
Rising case numbers mean that the UK business community will have to weather a minimum of 27 days of national lockdown. So how can you prepare your business for a second UK lockdown?
Our advice to clients since we forecast this has been to focus on what they can control.
We came up with CACC as an acronym for what you can be doing based on four key questions to prepare your business for a second lockdown
- What can you do to maximise your CASH FLOW?
- What products and services can you ADAPT in full lockdown?
- Have you got an easy to COMMUNICATE plan for employees & customers?
- How can you galvanise your clients into a COMMUNITY?
Cashflow
During times of business stress having a clear grip of your cashflow is vital. But now is the time to take steps to protect and enhance this.
- Make sure you are on top of invoicing and chase those that are overdue.
- Review all spending and focus on what delivers for clients and generate revenue (marketing and sales)
- Review your subscriptions as these can easily mount up
- Can you offer perks and enhanced vouchers instead of refunds (keep the right side of law here)
- Check to see what support you can get (if any) in the form of loans and grants
Adapt
Figuring out what you CAN do instead of focusing on what you can’t is going to be key.
Whilst you may not be able to go out or meet customers face to face, we saw some great innovations from zoom fitness classes, takeaway beers from pubs or online training and memberships.
- Think about what value you can deliver to customers virtually
- Can you offer services in the future to bring in revenue now?
- Can you offer credit to clients rather than refunds (with their consent)
Communicate
Clear communication to your clients, employees, suppliers, and network is key during times of uncertainty and service interruption.
- Create and share your plan of action
- Communicate the plan of action with a tailored plan of action for different stakeholders
- Make it clear what you will do and what your expectations of others are
Community
During tough times building a community of like-minded people that support you is key.
Building an attitude around being all in this together will not just build morale but also encourage employees to go further.
- How can you build a community where people can come together and support each other
- Which communication platform is right for each audience
If you are struggling to prepare or need some support why not join our Facebook Community