Performance data and human psychology have proved over and over again the positive impact of planning for any organization. In last week’s blog, we shared a few ideas for the Small/Medium Business (SMB) community about planning for the unique challenges of 2021.
In the age of ‘Prime Now’ one thing won’t change, the need for speed. Fast wins. Our clients that were able to make smart, timely pivots have survived and some even thrived through 2020. If we plan for contingencies and have alternate courses of action mapped out, our teams can be faster than the competition.
After planning sessions with dozens of our clients, we have discovered three contingencies most SMBs should be factored into their 2021 plans.
Plan B: Quarantines. One of our own teammates tested positive last week. She said it feels like December 44th, 2020. Our employees and their families are still going to be dealing with infections and 10-14 day quarantines. Cross-train, keep remote work protocols ready, develop back up plans for key personnel. How will you adjust your team’s priorities if you have short term reduced capacity?
Plan C: Xceleration. Are you and your team ready if things get better and faster than your Plan A? If you will need more people fast, build a virtual bench. Make a plan for working capital, office space, and key infrastructure for a growing team.
Plan D: Government ‘assistance.’ There is a second round of PPP in the recent stimulus. Do you qualify? Should you take it? The new administration will certainly be putting a play together for the first 100 days. Can you anticipate how that will impact your business and prepare the right adjustments?
What other contingencies should we be thinking about? XtraMilers, put your contingency outlines in writing and talk through them with key leaders on your team. When the opportunity emerges, you are ready to execute.
Hold on tight, the next 30 days will be wild.
Do you have a 2021 plan in writing? As a business owner, one of the hardest things to do is find time to sit down and plan strategically. Click here to learn more about our 1-day event!