There is a relentless struggle happening in all businesses. A relentless hunger by business leaders and owners to survive the impact of this pandemic. I don’t believe that any business can forecast three months into the future with any level of confidence. I also believe that business leaders and owners are trapped with indecision. Someone told me back in March, not to worry this will be over in about 12 weeks. I thought it was bullshit then and I believe it is bullshit now. I am a very data driven and strategic individual, experience has taught me to trust nothing, unless you can prove to me that it is reliable and sustainable. I know a number of business leaders and many agree with me. They are worried that this virus is taking a large toll on business survival, personal finances and mental and physical health for those involved. Having been brought up in a family business I more than empathize with all.
However the question is can we do anything to save businesses? Are any of the government programmes worth the paper they are written on? Are banks ready to take the hit and allow these businesses to survive until the vaccine arrives? I wonder why not? Won’t the losses of these businesses be greater than 4-6 months of late payments and a plan to catch up not pay up, when they reopen. But we all understand why banks can’t or won’t take a holiday.
The sad part is that not every business will make it and many have already folded. Perhaps I’ve been in the corporate world far too long and I know open or closed most will not have a chance at the holiday season.
The problem? Consumer Confidence simply it doesn’t exist. From the very beginning I said that we needed to watch-out for this and how this virus reshapes consumer behaviours. I am disappointed in some management consultants still peddling the same nonsense on how to run or market a business, when all of them know that businesses are struggling and closing.
Can We Save Businesses From Covid-19?
If we let them stay open and restrict public movement they might as well be closed.
if they open with restrictions the volumes will not cover costs.
If we close them the financial hardship is not tenable.
If we let them stay open with no public restrictions the virus will accelerate, more than it is now. But that would be irresponsible and only good for those that like anarchy.
Is there no win-win situation here? Are we stuck? Only if we remain conventional.
What if we were unconventional? What if the banks, landlords, businesses and government were to come up with a new plan? I can think of a number of ways to do this.
So it is a challenge that I am proposing to all those that hold the balance of power and influence over the future of businesses. Get unconventional, you will not only save businesses and jobs, you will also save the economy from the calamity we all know we may face post virus.