Business Survival Guide

If you had told me three months ago that I will be homebound for two months, I would have found that hard to believe. In business, we prepare for unforeseen circumstances, but the COVID-19 crisis is far greater than most of us could have imagined or prepared for. In spite of everything going on, we have to find a way to pull ourselves together and lead our businesses each day.

As you work through this crisis, I want to share my Business Survival Guide with you; this guide is designed to deal with the daily challenges of a crisis while planning for post crisis recovery.

1. Business Impact Analysis

Perform a weekly (or as necessary) analysis of the impact that the crisis has on your business. List a detailed consequence of the crisis on all components of your business such as customers, vendors, operations, employees and finances.

2. Impact Mitigation Strategies

Based on your analysis above, develop strategies to reduce the impact of the crisis. Your strategies should be tactical actions that stop, slow down or divert disruption to your business.

3. Crisis SWOT Analysis

Perform a SWOT analysis in relation to the crisis by identifying your strengths, weaknesses, opportunities and threats. Use your SWOT results to create various strategy options for your business.

4. Recovery Roadmap

Prepare an action plan for the critical and recovery stage of the crisis. The plan will leverage the strategy options identified above and will cover all possible scenarios (bad, neutral and good).

I am hopeful that we are at the tail end of the COVID-19 crisis, but it is not too late to plan and take control of your outcome.

Download the Business Survival Guide and lead your business to a better recovery.