There is an old adage, “Never let a good crisis go to waste,” and COVID-19 is providing a lot of opportunity for us to learn and protect ourselves from a future crisis. Back in 2008-09 businesses learned the importance of having cash on hand, minimizing costs, cross training talent and ensuring succession plans were in place. These same core issues are at play with our current crisis and so we have the opportunity to plan for the unknown before it happens.
Watch the short video to hear Jon Paul Davis, a Partner with HHM CPAs and our very own Dan Schneider and Jeff Bannon to hear insights on the burning question.
As you listen to this episode you will walk away with key take a-ways and will realize you will want more. Click to visit the “Burning Question” topic page to easily access the additional episodes in the series.
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Tune into more burning questions by subscribing to our blog on the right side of the page. You will receive updates when new episodes are live that will address:
- Adjusting to the new normal for industries that rely on customer interactions
- Messaging for business owners / leaders to share with their people in times of crisis
- Navigating the path when some family want to work in the business & others pursue other careers
- Addressing uncomfortable subjects that are more difficult during crisis as opposed to normal times
- Strategies for helping a son and daughter to learn how to work together
- Navigating business transitions when the next gen is not interested in the family business
- Proactive strategies to position the business for the “unknown”
- Communication tactics ease employee’s anxiety and worry
- Managing emotions of others and self in times of stress
- Strategies to increase sales to cover costs and create more points of revenue