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Building resilience post lockdown

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Anjana Vivek
Anjana Vivek

How to re-imagine and rethink business in a post Covid-19 world. Leading through building resilience in self and business and shining light in a new world business environment.

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Building Resilience Post Lockdown eMERG 18 April 2020 Anjana Vivek
At the start Leading self Business stocktake Business rethink Going ahead To Trigger Thinking 2 2
Reflection: You What motivated you to be an Entrepreneur? 3
Reflection: You A desire to: Follow your passion Be your own boss Find an alternate to employment To make money/name/fame? Other ? 4
Reflection: You A desire to: Follow your passion Be your own boss Find an alternate to employment To make money/name/fame? Other ? Has this changed now... Post lockdown ? 5
Reflection: You You could think of this time as an opportunity to rethink and reset 6
At the start Leading oneself Business stocktake Business rethink Going ahead To Trigger Thinking 7 7
Reflection: You Relook at your life, a new future awaits Accept there will be change, practice to exercise acceptance of new reality, unknown and uncertain This takes time to internalize, register and move ahead Take time make time to grieve, count blessings and move on, a step at a time if required and sometimes one step forward and two steps back, that is OK 8
Reflection: You Some tools to accept change: Counting blessings Connecting with others, reaching out Working on positives Using opportunity to re imagine and rework on self and business Faith in a higher power can help in difficult times 9
Reflection: Going ahead.. Future is unclear Difficult to predict how things will turn out There are many things out of control Think about what is in your control and try to build an action plan to help you navigate the chaos around you 10
At the start Leading oneself Business stocktake Business rethink Going ahead To Trigger Thinking 11 11
Business Stocktake: At the start What is your core business solution What is the customer satisfaction level How hard do you have to work to sell 12
Business Stocktake: At the start How will the changes in the world impact your idea? Relook at your Business Idea/product/solution Business cycle 13
Business Stocktake Illustrative business activities/cycle Purchases supplies, solutions etc. Manufacturing, in-house processing Sales, marketing Delivery of product/service/solution Collection of money and payments 14
Business Stocktake Unbundle key items in Business cycle and relook at each item: Example: Purchases, goods-in etc Will service delivery partners and associates continue to be a part of your extended team How will this impact your product/solution Delivery Pricing Additional warranties Other 15
Business Stocktake Continued: Example: Purchases, goods-in etc Relook at partners and associates in delivery What other options do you have Is this a crisis situation, which will impact your business. COLOUR CODE: Red Orange Green If uncertain: Use another colour 16
Business Stocktake Example: Purchases, goods-in etc What changes do you expect from suppliers of raw- material and other goods In terms of quantity Delivery time Pricing Other How will this impact your product/solution Delivery Pricing Additional warranties Other 17
Business Stocktake Do a step-by-step review as well as look at the overall key impacted items due to the lockdown and overall changes in business environment expected It will help to look at both the details and overall picture to help you put in place an action plan 18
At the start Leading self Business stocktake Business rethink Going ahead To Trigger Thinking 19 19
Business Next Summarise your stocktake; this is the first cut, a start, maybe even a draft; it can be refined over time, as you go along In addition list any other key items or activities that may be impacted, such as employee engagements, some employee roles becoming redundant etc. Some such areas may be difficult to deal with and may cause emotional upheaval, be kind when you can and show caring, that is what survives and brings resilience to humankind 20
Business Next Think of changes you may want to make overall in either changing product offerings or adding new ones in new business environment Look at technology and how you can leverage on online presence and the investments you need to make, in terms of time, money etc. List items that are critical to look into for survival and growth and see how these can be addressed 21
Business Rethink: Action plan Build an action plan to address Immediate survival 6 months plan 12 months plan Put an activity plan, tasks to be completed on a daily/weekly/monthly basis Put out your time charts and build this into your new daily routines, estimating times that may be available to you post lock down. 22
Business Rethink: Action plan As you plan timelines, block times for Business activity Review and monitor activities and changes implemented Think about strategy going ahead List your finances, for self and business 23
Business Rethink: Financial rethink 24 Optimistic Normal Pessimistic 1-3 months 6 months 12 months 1-3 months 6 months 12 months 1-3 months 6 months 12 months Total Revenue Expenses Salaries SG&A Other Total EBDITA Depreciation PBT Tax PAT
Business Rethink: Finance rethink Periodically revisit financials and change/update these on need basis This will help you to have a better grip and get some control in these challenging times 25
At the start Leading self Business stocktake Business rethink Going ahead To Trigger Thinking 26 26
Going Ahead We face uncertain times where the future is more unpredictable than ever before Do not lose heart, count your blessings and focus on what you can control rather than what you cannot Take small steps at a time as you rethink and restate your business, business model and action plans Think through financials and set out an action plan for survival, 6 months and 12 months Address the emotional needs of yourself, family, employees while re-engineering your life Keep faith that you are not alone, this is one time when the whole world is going through a reset Be the light that brightens the path for others 27 Thank you

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Building resilience post lockdown

  • 2. At the start Leading self Business stocktake Business rethink Going ahead To Trigger Thinking 2 2
  • 3. Reflection: You What motivated you to be an Entrepreneur? 3
  • 4. Reflection: You A desire to: Follow your passion Be your own boss Find an alternate to employment To make money/name/fame? Other ? 4
  • 5. Reflection: You A desire to: Follow your passion Be your own boss Find an alternate to employment To make money/name/fame? Other ? Has this changed now... Post lockdown ? 5
  • 6. Reflection: You You could think of this time as an opportunity to rethink and reset 6
  • 7. At the start Leading oneself Business stocktake Business rethink Going ahead To Trigger Thinking 7 7
  • 8. Reflection: You Relook at your life, a new future awaits Accept there will be change, practice to exercise acceptance of new reality, unknown and uncertain This takes time to internalize, register and move ahead Take time make time to grieve, count blessings and move on, a step at a time if required and sometimes one step forward and two steps back, that is OK 8
  • 9. Reflection: You Some tools to accept change: Counting blessings Connecting with others, reaching out Working on positives Using opportunity to re imagine and rework on self and business Faith in a higher power can help in difficult times 9
  • 10. Reflection: Going ahead.. Future is unclear Difficult to predict how things will turn out There are many things out of control Think about what is in your control and try to build an action plan to help you navigate the chaos around you 10
  • 11. At the start Leading oneself Business stocktake Business rethink Going ahead To Trigger Thinking 11 11
  • 12. Business Stocktake: At the start What is your core business solution What is the customer satisfaction level How hard do you have to work to sell 12
  • 13. Business Stocktake: At the start How will the changes in the world impact your idea? Relook at your Business Idea/product/solution Business cycle 13
  • 14. Business Stocktake Illustrative business activities/cycle Purchases supplies, solutions etc. Manufacturing, in-house processing Sales, marketing Delivery of product/service/solution Collection of money and payments 14
  • 15. Business Stocktake Unbundle key items in Business cycle and relook at each item: Example: Purchases, goods-in etc Will service delivery partners and associates continue to be a part of your extended team How will this impact your product/solution Delivery Pricing Additional warranties Other 15
  • 16. Business Stocktake Continued: Example: Purchases, goods-in etc Relook at partners and associates in delivery What other options do you have Is this a crisis situation, which will impact your business. COLOUR CODE: Red Orange Green If uncertain: Use another colour 16
  • 17. Business Stocktake Example: Purchases, goods-in etc What changes do you expect from suppliers of raw- material and other goods In terms of quantity Delivery time Pricing Other How will this impact your product/solution Delivery Pricing Additional warranties Other 17
  • 18. Business Stocktake Do a step-by-step review as well as look at the overall key impacted items due to the lockdown and overall changes in business environment expected It will help to look at both the details and overall picture to help you put in place an action plan 18
  • 19. At the start Leading self Business stocktake Business rethink Going ahead To Trigger Thinking 19 19
  • 20. Business Next Summarise your stocktake; this is the first cut, a start, maybe even a draft; it can be refined over time, as you go along In addition list any other key items or activities that may be impacted, such as employee engagements, some employee roles becoming redundant etc. Some such areas may be difficult to deal with and may cause emotional upheaval, be kind when you can and show caring, that is what survives and brings resilience to humankind 20
  • 21. Business Next Think of changes you may want to make overall in either changing product offerings or adding new ones in new business environment Look at technology and how you can leverage on online presence and the investments you need to make, in terms of time, money etc. List items that are critical to look into for survival and growth and see how these can be addressed 21
  • 22. Business Rethink: Action plan Build an action plan to address Immediate survival 6 months plan 12 months plan Put an activity plan, tasks to be completed on a daily/weekly/monthly basis Put out your time charts and build this into your new daily routines, estimating times that may be available to you post lock down. 22
  • 23. Business Rethink: Action plan As you plan timelines, block times for Business activity Review and monitor activities and changes implemented Think about strategy going ahead List your finances, for self and business 23
  • 24. Business Rethink: Financial rethink 24 Optimistic Normal Pessimistic 1-3 months 6 months 12 months 1-3 months 6 months 12 months 1-3 months 6 months 12 months Total Revenue Expenses Salaries SG&A Other Total EBDITA Depreciation PBT Tax PAT
  • 25. Business Rethink: Finance rethink Periodically revisit financials and change/update these on need basis This will help you to have a better grip and get some control in these challenging times 25
  • 26. At the start Leading self Business stocktake Business rethink Going ahead To Trigger Thinking 26 26
  • 27. Going Ahead We face uncertain times where the future is more unpredictable than ever before Do not lose heart, count your blessings and focus on what you can control rather than what you cannot Take small steps at a time as you rethink and restate your business, business model and action plans Think through financials and set out an action plan for survival, 6 months and 12 months Address the emotional needs of yourself, family, employees while re-engineering your life Keep faith that you are not alone, this is one time when the whole world is going through a reset Be the light that brightens the path for others 27 Thank you