There’s nothing quite like a worldwide pandemic to bring about change!
But with or without the current global circumstances, it is clear that the business environment is quickly evolving. Businesses must now be flexible and more adaptable than ever before. Not only must we find ways to ensure business continuity, but we also need to devise solid recovery plans to keep our businesses alive during and after the present crisis.
What’s more, a good recovery plan will set us up to survive—and even thrive—through whatever may come next.
Here at DesignPoint, we are focused on helping our clients through the current uncertainty while also setting them up for success going forward. Take a look at four key areas where your focused attention can yield significant results in the coming months.
4 Key Focus Areas to Support Business Continuity
When a crisis hits, it’s easy to get lost in putting out fires and handling the chaos of day-to-day operations as they shift to meet the changing environment. However, it is even more critical during challenging times to stay focused on the right things.
The following are four important areas that deserve more attention now than maybe ever before. These key areas will help us build and sustain relationships that will carry through today’s crisis and prepare us well for tomorrow’s challenges.
1. Stay Focused on People
Your employees are looking to you to provide safety guidelines and responsive policies, to adjust work expectations appropriately, and to accommodate their shifting needs through the crisis. Be ready to reimagine how your business works at a moment’s notice so that you can stay adaptable in hard times.
This is true even when the business environment is stable. So, put a strong emphasis on employee wellbeing, consistently put people first in your business, and watch your organization thrive even through challenges.
2. Refresh Your Strategy
Revising policies, providing up-to-date guidance, and adjusting work expectations are undoubtedly crucial in times of crisis. It’s also important to focus on refreshing your entire business strategy to be as proactive as possible, adaptable, and responsive when unforeseen circumstances arise. Because, at some point, unforeseen circumstances will certainly occur!
To do this effectively, consider the following (do this proactively if possible!):
- Look for areas rife with financial risk, and assess opportunities to improve short-term cash flow and asset liquidity (even if these plans are only used in times of crisis)
- Stay vigilant and look for weakness and risk in your supply chain and internal processes
- Regardless of circumstances, focus on continuous improvement so that your organization is always trimmed of excess, stays lean, remains flexible, and of course is continually resilient.
- Assess budgets and business plans for their viability even in challenging times (stress test them under normal circumstances where possible, so you’re ready when challenges arrive).
3. Leverage Resources
Whether your business is in crisis or not, you should be looking for resources that benefit your company. There are grants, government programs, funding opportunities, and online resources that could benefit you now and going forward.
Incorporating a process of seeking out resources and encouraging exploration will pay off even more in crisis times. When it’s time to put together a recovery plan, you’ll already be familiar with finding and leveraging available resources.
4. Communicate Clearly and Often
Again, even in the most average phases of business, this one is key. In challenging times, communicating with your key stakeholders becomes even more critical to your business continuity and success. When it comes to crisis mitigation, having established lines of clear communication with all the people who make your business work will pay dividends.
Think of how to communicate often and clearly with partners, suppliers, investors, stockholders, employees, customers, and any government entities that may have governing authority over your business in any capacity. Making this part of your everyday business plan will assist you with competent crisis planning, risk mitigation, and gaining support when you need it most.
DesignPoint: Your Recovery Plan and Growth Strategy Partner
We pride ourselves on being responsive to our customers’ needs. Following our own advice, we are doing our best to put you first during the current challenges so that your business can survive and thrive.
If you’re ready to revolutionize your business by building a solid recovery plan for business continuity and growth or if you’re interested in a top-quality 3D printer or other 3D software or product, contact us today. DesignPoint is here with you, helping transform your efforts for the better through good and bad times.