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Surviving times of crisis

Author: Henry Ejdelbaum

Tags: business, small business, SME

One of the biggest challenges your business can go through is a time of crisis. The coronavirus one and its implications are unprecedented, leaving many businesses struggling. Surviving this crisis will be an accomplishment whilst planning to ensure your business is as ready as possible for any unexpected times in the future has become an ongoing target. We’ve highlighted three possible ways for businesses to ensure they are best placed to survive:

Changing your business habits
Whilst sticking to the way it’s always been done might be more comfortable, adapting to a new way of working and having the capacity to do so quickly is now vital for business survival.

Making plans
Though businesses face the persistent unknown regarding what will happen next, one thing that seems definite is how consumer habits and interactions will change. Therefore, it is important to develop a strategy based on a wide view of how your business might be impacted.

Prioritising what is key to survival
With limited amounts of time and resources in a working day, now is the time to prioritise what is important to the business, allowing sufficient resources and time towards specific areas.

By evaluating this frequently and reprioritising where necessary to suit the ever-changing landscape, you can help your business react during times of crisis and survive uncertainty.