Your Total Guide To Business

My Strategy For Surviving Coronavirus

By Bob Hayward, managing director of Be More Effective, which provides a unique blend of consultancy services to source top talent, enhance employee engagement and lift performance. Having started seven businesses myself, of which I still run two, (Be More Effective Ltd and Key Performance Training Ltd). I now love using my experience and the skills developed along the way to make growth happen for others - sometimes as a non-executive director, or a growth consultant or as coach.

When did you realise the Coronavirus could be a problem for you and your business?

On March 23, everything changed. Up till the announcement of lockdown I thought that I, and my clients could get through this crisis without too much trauma.

On the 24th, clients called and cancelled projects or asked for huge discounts. After all we all have to reduce costs, don’t we? We cannot do any more recruitment now can we? And you cannot deliver your consultancy and executive coaching without actually being on site, can you?

70% of my expected turnover for the months ahead disappeared within days.

What has been your plan to continue?

I had to pivot my service into a area of need, and do it all online.

I immediately organised a series of free webinars with a small number of other trusted advisors and collaborate with a group of authors to get two new books to market.

One to help give advice to the 1000s of people suddenly thrown into working from home; a strange pastime if you’ve never tried it before.

And the other book for business owners not used to handling a crisis. While I may not be able to generate much revenue now, I have to build interest and a desire to work with my company again once lockdown begins to ease.

Have you changed your business as the weeks are passing?

I am now doing everything on Zoom, Skype or Team. I spend hours on video calls. The webinars and book promotions are working as more people want to get advice while not many can afford to pay just now…

Have you been able to access any government support?

I’ve stopped taking money out of the business myself to save costs and applied for the Business Bounce Back Loan to keep things going as best I can.

What have you seen about business which has been positive?

I have experienced an amazing collaborative effort. Businesses who’ve put creative teams together to help their own colleagues and staff save money, teams to find new products to sell, and teams to reach out to people in the local community who might need food or support.

I’ve been struck by the self-sacrifice of business owners who have stopped taking any salary at all so they didn’t have to furlough staff.

I am inspired by some clients who have been able to pivot their business into an area of significant need and actually make significant progress.

Most of all I’ve realised just how much more can be achieved when there is a reason bigger than anyone involved. I’ve been inspired by experiencing just how amazing and generous people can be.

What have you seen about business which has been negative?

I’ve been annoyed at some organisations which appear determined to stick to the previous rules. While most are trying to be helpful and flexible I did receive a letter reminding me of my automatic travel insurance renewal accompanied by a statement saying I will not be covered if I do decide to travel and subsequently succumb to a Covid-19 infection.

Why? Because I knew it might happen and still decided to travel?!

Somehow that doesn’t seem fair…

What advice would you give to other business owners?

First, workout your “Go-Broke-Date”. How many days can you continue to trade and pay your bills before the money runs out? It is vital to keep that date 60, 50 or 120 days away if you can.

As painful as it is you may have to cut costs. In a crisis, cashflow matters more than ever.

Second, look out for your staff, do everything you can to support their mental health, keep them busy, focussed and well informed.

Third, work out a way to shift your offering into an area of greater need that can be delivered online, or via a delivery service.

What can we do to help each other?

Call as many of your contacts, friends, family, prospects, clients and suppliers as you can. Ask them how they are and mean it.

Ask them if they need any help and provide what you can. Free if you can.

Together we can get through this. This is not the time to sell, it is a time to listen, a time to support, a time to give.

Your parting thought?

Whatever you are going through, you don’t have to get through it alone. Social distancing doesn’t have to mean you are on your own. Whatever you are going through, please reach out to someone and ask for help.

While a problem shared does not literally divide that problem in half it does make it much - much easier to bear or it may even provide the solution.

For more information visit https://www.bemoreeffective.com/

Scott Media

Scott Media is run by a UK-based journalist with more than 20 years' experience in the media - print, radio and television.

6 Gold View, Swindon, Wiltshire, SN5 8GZ

Website Email 07789 270030

More Details

Doubletree by Hilton Swindon (Animated Ad)