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How we can help during a time of crisis
How to grow through adversity
What are your options when you’re faced with uncertainty?
By Simon Monk
As we’re seeing across the UK, new revenue can take a sharp turn for the worst when disaster hits, but there are some common steps to a re-growth plan.
“Disaster and uncertainty are not the same. Disaster with a clear plan is often better then normality with no plan – it’s all about risk and mitigating uncertainty, not about disaster. For some, disaster can be an opportunity.”
Growing in the face of adversity is not unique to companies managing pandemics. Thousands of companies do this when faced with a turn-around situation, and accordingly, much can be learned from people who have made good the fortunes of companies who were on the brink of collapse.
5 key questions that drive any turnaround:
- Do you have the cash?
- Do you have the right team in place?
- Are you sufficiently differentiated?
- Are your costs aligned to the goals?
- Do you still have the cash?
- Communicate your plan to key stakeholders.
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Val_monk@yahoo.com
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