Here’s the second set of pointers based on what Susan has learnt from her extensive experience of working with a wide range of organisations facing financial difficulties:
- Think in terms of options and scenarios rather than trying to find one solution and then implementing it, come what may. You need to be able to adapt as the world is now changing very rapidly.
- Don’t play the blame game: it takes up valuable time and even more valuable energy when both will be essential but in short supply
- Pace yourself: most crises are marathons not sprints!
- Keep key stakeholders informed: you will need all the goodwill and support that you can get.
- Document your decisions: it’s your best protection in the event of later challenges.
Tomorrow there will be more detailed guidance on managing a tight cashflow.
We both know this is a really challenging time for everyone and want to do all we can to provide whatever support and guidance we can. If you have any questions, or have tools and techniques that work for you, do feel free to share them with us.
Hoping you and your families are keeping safe and well.
Susan & Dawn