The world has changed. Your world and the economy as you know it has totally changed – and not for the better in the short-term. We must face facts. The next two quarters will be brutal. But this is the time to stay focused because we will all get through this. When you’re in hell, you keep going.
But sometimes, in a crisis, we decide to be honest about our situation (even if it’s not fun), consider the worst-case scenarios (which may not become the case for our business), determine the actual facts of the situation in relation to our unique business (without panic), consider all resources (we may have more than we realize), cut out spending (which isn’t a bad idea even in healthy times) and take appropriate action (that’s what you are in leadership for.)
For many, part of this process will be to take advantage of the Federal Coronavirus Relief Bill. Work with your CPA, lawyer, and banker now! See some summary pieces and the simple applications here.
Thoughts On Remote Work
All my clients are now working remotely. Some companies were progressive and pushed for being ready; others were in denial until the state governors issued stay at home orders.
I’ve been working remotely for the last 15 years as a trusted business advisor and virtual CFO to businesses around the country. Now everyone is working remotely (or WFH – work from home). I am lucky to have a great office space above my detached garage. It’s interesting, with such an increase in video calls, to see how else is using their remote/home space. Interacting with and leading remote teams is much different for some, where it’s business as usual for those who have been working virtually for years.
Many of my clients are using (and loving) Microsoft Team. I like it too (though I prefer NOZBE Teams.) Many other tools are now becoming well-known such as Zoom, Asana, Basecamp, and more.
The tool you pick is important, but what’s more important is how you use it. Try to mirror some of the same standards, schedules, and communication guidelines that would be in place in the on-location office. These virtual tools help you be able to carry on in a similar way … yet do understand that your team is going through a major change that is likely affecting (sometimes deeply) their personal lives, level of distraction, and emotions. Show some grace for a while, while keeping some standards and routines that will provide structure and even, respite, from the onslaught of information and fear.
Let me know if I can be of help to your team during this scary but also potentially beneficial (in some ways) time. Contact me here.