Prospering In A Pandemic – Panel Discussion With Three Successful Business Leaders
Navigating The Crisis Webinar Series
When experiencing economic shocks, there are no better people to ask for advice than those who have encountered similar situations in the past and have prevailed. We might not have come across a pandemic of such magnitude for over a century, but we have definitely experienced global economic recessions which have scared businesses of all sizes over the past two decades. And we have recovered.
An incredible session organised in partnership with the London Growth Hub/Funding London and led by Business Leader with three serial entrepreneurs and angel investors: Sukhendu Pal, Stephen Kelly and Steve Garnett.
- Cash is king. Build a water-tight cash plan, involve your stakeholders – employees, investors and customers into thoughtful discussions.
- As a leader, under circumstances such as the one we are experiencing, you should not be shy of over communicating with stakeholders and lead from the front.
- Cash is the fuel of growth. Create a reset plan with a new revenue reality and conservative assumptions. Align your expenses with the new revenue reality. Treat government schemes as contingency.
- As a CEO you will need to ‘hyper adapt’ during these times and acquire new skills that will help your business survive.
- CEOs need to get creative to prevent slippage of the pipeline and avoid cancellations. Put yourself in the shoes of prospective customers and understand what they need. Be proactive with prospective and existing customers.
- The HEART solution: Humanise your start-up; Educate customers on how to interact with your company; Assure customers your business’ values will continue; Revolutionise what customers value about your business; Tackle the future.
- We have been forced to adapt to full time remote working overnight. Even after lockdown will be lifted, we expect that many businesses will prefer to continue working this way.
Businesses will most likely experience the aftershock of the pandemic for few good months, if not years to come. Founders, this is the time to start thinking about how you can make your service or product a ‘must-have’ rather than a ‘nice-to-have’.