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My Strategy For Surviving Coronavirus
By Karl Paul, founder of Smarter Media, a Swindon-based digital marketing agency founded in 2011 and specialising in SEO and lead generation helping their clients to grow.
When did you realise the Coronavirus could be a problem for you and your business?
I started feeling concerned a couple of weeks back, and with each day became a little more concerned. The plans announced just after the Budget made it hit home how big an issue this could become. I started implementing plans and decided to operate work from home two weeks ago.
What has been your plan to continue?
We’re not panicking and making rushed decisions, we’re operating business as usual at this time, albeit remotely. I’ve been working with our FD closely to review our forecasts and worst-case scenario.
We’re looking at available credit lines and at what point we may need them.
I’ve spoken with lots of other business owners who are obviously going through the same, its great to know that each of us are willing to talk and share ideas on how to get through this and support each other.
The team are working with our clients to reassure them that we’re still here and can assist them through this period.
What advice would you give to others in business?
Try not to panic, ask for help, make a plan looking at your risks, worst case scenario and the options you have.
If you feel you may need funding don’t leave it until you really need it, start looking at options now.
What can we do to help each other?
Talk to each other, understand each other’s concerns and bounce ideas on solving them.
Keep your teams motivated and ease their concerns. They will have lots of concerns of their own in these uncertain times and communication (as well as cash!) will be king.
What do you think can be learned from this in the business world?
Always expect the unexpected, whilst that might sound crazy the world is changing all the time. Whilst you can’t always plan for the unknown, just be mentally prepared that things can change very quickly and be ready to adapt.
Your parting thought?
Running a business can be a very lonely place, don’t feel like you must battle this alone, pick up the phone and talk to people.
I appreciate this may be a very tough time for all of us, but I always try and find the positive in any situation.
Just a little thing for me but working from home I’ve been able to take the kids to school. Sometimes it’s the smallest of things that can brighten a cloudy day.
For more information visit www.smarter-media.co.uk