COVID-19 has upended whatever you had planned for 2020. Many businesses will likely have to create multiple short-term plans to address the ongoing economic uncertainty. It’s important to note that short-term strategy shouldn’t fundamentally change long-term strategy. A business will continue to live its core values and mission through the ebbs and flows of business, but an agile business will evolve. The experience and skills you’ve gained leading through this pandemic will create a culture of agility and resiliency, a culture that will carry your company from disruption to growth.
Brown Smith Wallace can help you assess what’s happened in your businesses thus far and where you should go next. Our experts have worked on both sides of the table helping businesses incorporate and grow and strategy focused on agility and resiliency. The path forward depends on the phase you are operating today—Disruption, Resilience or Growth.
Due to the erratic nature of the pandemic and the need to significantly slow down or cease operations altogether, businesses and organizations are experiencing an ongoing cycle of disruption as they re-open and close. Our team of business response professionals can help you create a plan to address these common challenges:
- Cash flow planning and liquidity
- Financial modeling and projections to better understand threats as well as weaknesses to revenue, profitability, and human capital
- Immediate actions focused on keeping people safe and essential business functions operating
- Virtual work environments and return to work plans
If you’ve found an operational rhythm after experiencing the initial COVID-19 disruption, you’re operating in the resilience phase. This is a fragile stage, but not as dire as the disruption phase. Some common issues we help C-Suite leaders address include:
- Redefining a short-term strategy in the current environment
- Identify opportunities to return to normalcy
- Organizational planning and talent management
- Exploring alternative financing options to bolster the balance sheet
- Tax structuring and planning strategies to improve tax-efficient and cash flow
If you are operating in the growth phase, you should focus on doing everything you can to maximize your position. You will be capitalizing on growth opportunities while keeping a watchful eye on the uncertainty in the broader economy. Contingency planning and a focus on responsible, sustainable growth will provide you with maximum flexibility to adjust should you experience a downturn. When our clients are experiencing growth, we help them:
- Align short-term and long-term strategy to come
- Identify and close acquisition opportunities to seize growth
- Conduct customer and competitor analysis to determine opportunities
No matter which phase you’re operating in today, disruption, resilience or growth, the Brown Smith Wallace COVID-19 Business Response Team can assist you. If you have questions about our services or to schedule a meeting, please contact David Killion.