PROSPER OR PERISH #9 by Stephen Gross. Click here to read past issues.
As re-opening our economy begins, we are entering the tricky stage of balancing safety, for customers and employees, with re-opening our businesses. We will face two obstacles in this effort – FIRST, our customers are going to be super cautious about risk (for a period of time), until a normal ebb and flow of people resume with little consequence.
SECOND, our employees will be hesitant to resume activities in a place they feel has a danger for them. Crowded spaces, open floor plans, lots of foot traffic, and interactions with strangers will threaten their perception of safety.
The unknown is whether the virus is slowing down, OR we will have a second wave of infection that is worse than the first. The Spanish Flue is an example of a virus that became much more dangerous in its second wave than it was initially.
Our business strategy, in the middle of such uncertainty, should be – careful thought out steps to minimize the risks for both customers and employees, while re-engaging in the business of creating revenue for our business with our core products and services. Additionally, we should explore creative, innovative, and opportunistic revenue that may have not been obvious or available prior to the pandemic.
If we carefully move through this transitional period, our chances of survival, adaptation, and success improve greatly!
Stephen Gross, CPA, CGMA, CVA, CFE — EVP of Hegemon Holdings and Co-Founder of Trusted CFO Solutions — is a big picture thinker and connector, with 40 years of rich and diverse experience in the C.P.A., business consulting, and venture capital worlds. Steve was an early adopter and evangelist of cloud-based accounting, as well as the concept of a virtual C.F.O. or Controller as a method of outsourcing the position in small businesses and startups. Learn More About Steve…
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