On June 6, 2008 in the middle of the last economic crises I launched a new Company in the Energy Sector. The following year in 2009 during the middle of the H1N1 Virus I bought 3 companies.
While everyone else was hunkering down and cutting back spending, I was out hiring the best and most talented people I could find, while growing and buying companies.
Money was cheap and the banks were throwing $$ at me, this allowed me to grow from $0 to $50M in 4 years with 350 employees and 5 operating companies.
As a Contrarian- I believe every issue is an opportunity in disguise;
Now that your team is safe due to the recent measures you’ve incorporated, and some are probably already working from home. They’re utilizing; Phone, Skype, Zoom, Whatsup, Slack and a variety of Social Media platforms to communicate and stay in touch with one-another. Hopefully you have established secure and remove server access and they have access into your ERP and accounting systems.
What can you be doing to create new business opportunities?
- Social Capitalism - do not do layoffs, embark on training and leadership development
- Develop strategies for disruption of your industry and your competition
- Money is cheap, do not be afraid to finance that acquisition you’ve been considering
- Identify those key people that are required to take you to the next level
- Prepare for the next wave of growth, it’ll be here before you know it
- Research and explore new products and services to offer
- Re-direct your sales teams identifying new client prospects and reaching out to them.
- Increase utilization of technology applications, big data and digital strategy
- If quarantined from making those important sales calls, complete all the follow-up calls and emails or read professional development and business books
- Use the additional time saved from commuting to hit your private gym and get exercise
- Consider providing financial and logistical support to your employees to set-up their home offices
- Change the way you operate forever, maybe you don’t need a bigger office after all.