It is known that your business suffered major impact due to COVID-19
While the income stream(Revenue/funding) may not have reached the same level for some, it is good time to identify what is really needed in the future.
Currently, alot of people are impacted both financially and personally(career, family) due to lockdown, how do we get back on track and renew our confident and plan for growth?
Please feel free to send more questions and I will answer here (will update timestamp)
Talent & business partners Q&A:
1. Currently I have registered my business on JobKeeper support scheme to keep my critical talent ongoing (permanently or part-time employed/casuals worked for your business for over 12 months), I have a business continuity plan but unsure what future holds?
a. It is great that you have business continuity plan and we are really in the stage to utilise it or revise.
b. Identify the growth requirement/demand on 1. Products/services #lifeCycle management (Requirements - Design - Develop - Test - Distribute - Review/Improve(loop) - phase-out) 2. Customers clusters vs demand (specifications, price point, value, customer experience) 3. Business development and decision making model 4. Sourcing strategy
5. Marketing strategies and champaign (utilise data, social media, on-demand listening) 6. Financial management 7. Talent management plan (Demand, Capability, Roles & Responsibilities & #EmployeeExperience)
8. Distribution channel - how do you build-distribute-change as rapid as possible
9. Technology solutions - Cloud solutions, data management/governance, security, utilisation
Discuss with your team whom you identify as crucial for your business on identifying what they are also interested in providing extensive skills for your next stage post COVID-19
It is also important to engage with your contingent specialist/casual workers as they have exposure to various businesses and have insights on what is trending.
#ProfessionalSociety.org we have specialist consultatn to ready to help.
2. I can see the shift of business models for alot of retail/hospitality utilising digital / customers/seller platforms to attract new customers and I need to review the demand on skills or staff responsibility
It is great that you acknowledge the change and trying new business distribution channel (the way to attract new income stream)
a. Have a discussions with your team and see what is the best way to engage customers utilising their exceptional skill and chat about best way working forward
b. While demand may be shifted and it may be more secure to source locally, it is good to consider the sustainable, ethical and responsible sourcing
c. Your customers are potentially your business partner, do consider their recommendations and utilise their experience to move forward
To be continued 09/04/2020 1134